What Caused the Surge in Network Activity for Dogecoin?
Dogecoin, a meme-inspired cryptocurrency, has seen a surge in network activity with daily transactions reaching an all-time high of 650,000, surpassing Bitcoin and Litecoin. This is attributed to an increased interest in minting DRC20 tokens, a new type of digital asset, on the Dogecoin network. The uptick in activity is seen by some as an opportunity to test Dogecoin’s scalability while others have expressed concerns about the increased activity potentially congesting the network. Mishaboar from the Dogecoin community suggests dedicated Layer-2 solutions to avoid clogging the main network. However, many users remain optimistic, suggesting that this surge in transactions might be a sign of things to come if Dogecoin is to become a widely accepted global currency.
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