EddieJayonCrypto

 20 Dec 23

tl;dr

Polygon co-founder Sandeep Nailwal shared that the blockchain recorded over 161 million inscriptions, with BNB and Avalanche following with 77 million and 60 million inscriptions, respectively. He also highlighted the difference in gas fees between Polygon and other networks, as well as the signific...

Polygon co-founder Sandeep Nailwal has revealed that the blockchain recorded over 161 million inscriptions. BNB follows in the second spot with 77 million inscriptions, and Avalanche comes in third with 60 million. This is crucial as inscriptions, similar to Ordinals on Bitcoin, serve as data embeds much like smart-contract-based ERC20 tokens and NFTs.

Nailwal also highlighted the discrepancy in gas fees between Polygon and other networks, emphasizing that gas fees on Polygon remained under 10 cents while fees on other networks soared to $400. Additionally, data from the DUNE dashboard reveals Avalanche’s substantial gas fees, with a percentage of gas spent on inscriptions highest for Goerli at 91%. This points to significant differences in the efficiency and cost-effectiveness of transactions across different blockchain networks.

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