Daily Transactions of Dogecoin (DOGE) Outstrip Bitcoin (BTC) with the Introduction of New DRC-20 Standard
Daily transactions on the Dogecoin blockchain have overtaken those on bitcoin after the introduction of the DRC-20 standard. The framework allows developers to create tokens on the Dogecoin network, usually for ownership rather than to be used as a currency — much like cryptocurrencies themselves. The number of daily transactions hit a record high on 17 May of more than 1.1 million, compared with about 580,000 on bitcoin then. The last time this happened was in December 2013, not long after the launch of Dogecoin, and the outpacing ceased in February 2014. Since then, many investors have “backed” Dogecoin after mention of the cryptocurrency by Tesla founder Elon Musk, among others. It is trading for $0.074, while bitcoin is valued at $27,017.