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.

Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 19 Sep 24
 19 Sep 24
 19 Sep 24