Crypto

Gods Unchained Triggers ERC-721 Token Transfer Spike on Ethereum

A lot of transactions over the Ethereum network have nothing to do with Ether itself. This is apparent when looking at the recent transaction spike for ERC-721 tokens.

A powerful and popular network like Ethereum attracts a lot of attention.

Gods Unchained Chugs Along Nicely

Not only are there the Ether users to contend with, but also plenty of token holders and dApp users.

It now appears the ERC-721 tokens are being transferred at an increased level.

So much even that the recent throughput is a fourfold increase compared to two weeks ago. 

This increase is, according to CoinMetrics, the direct result of the Gods Unchained dApp.

It is a digital blockchain-based trading card game where users effectively own the cards in their deck.

This project alone is responsible for seeing 6 million card assets transferred over the Ethereum network in the past few days. 

Related Post

If this trend keeps up, one would expect the Ethereum network to get clogged up again.

Despite this increasing volume by Gods Unchained, it appears Ethereum continues to chug along without any problems.

Most of the network blocks have ample size for additional transactions, either Ether-based or otherwise.

One can attribute this “success rate” to Gods Unchained as well, by the look of things.

The dApp’s team tries to batch transfers into one single transaction whenever possible.

In doing so, the dApp cuts down on so-called blockchain bloat which is often the reason why networks suffer major transaction delays. 

For the time being, these statistics will remain interesting to keep an eye on.

If more dApps can deploy this way of handling token transfers, Ethereum might remain bloat-free for the foreseeable future.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Maneki Token Surges By 50% In 24 Hours Amidst Whales’ Activity

The cryptocurrency market is abuzz with the meteoric rise of $MANEKI, a token that has…

4 hours ago

BNB Chain Set To Introduce Liquid-Staking On BSC Network

In a strategic move aimed at consolidating and enhancing its network capabilities, BNBChain is gearing…

4 hours ago

BlockDAG’s $20.6M Presale Success and 30,000x ROI Forecast Surpasses Dogwifhat and Worldcoin in the Crypto Race

BlockDAG's ROI Potential Soars From 20,000x To 30,000x After Moon-Shot Keynote As Rivalry with Dogwifhat…

6 hours ago

Looking For The Next Dogecoin (DOGE) Or Shiba Inu (SHIB)? Don’t Miss The ETFSwap (ETF) Presale

Since 2021, crypto investors, especially those who missed out on Dogecoin (DOGE) and Shiba Inu…

16 hours ago

BlockDAG Elevates Crypto Engagement with $2 Million Moon Teaser and Innovative Marketing

BlockDAG Smashes $20 Million Presale Amid Moon-shot Keynote as Raboo (RABT) & Bitcoin SV Prices…

19 hours ago

Crypto Analyst Split Investment Portfolio Between Solana And Algotech (ALGT): Which One Will Bring Higher Returns?

Crypto enthusiasts are assessing the best crypto to invest in. With the market showing signs…

20 hours ago