Litecoin Experiences Highest Blockchain Activity Thanks to Ordinals Mania

CN
Decrypt
关注
2年前

Ordinal mania has caused increased blockchain activity—but not just on Bitcoin’s network: Litecoin, the 12th largest cryptocurrency by market cap, is experiencing a huge surge in transactions. 


Litecoin’s blockchain last week experienced over 584,838 transactions in one day, the highest in its history, according to crypto data website Bitinfocharts. 


Activity has since dipped—363,855 transactions took place yesterday—but Litecoin use is still higher than it has ever been. 



The cryptocurrency, which trades as LTC, is also one of the best performing digital assets in the past week: up 12.6% in seven days and trading for $91.43, according to CoinGecko. 


Why? Because people are using Litecoin for Ordinals, a new craze in the crypto world which allows digital assets like pictures or moving images to be inscribed on a blockchain—just like NFTs


This has caused activity on Bitcoin’s blockchain to surge—and transaction fees, too—as people use the network to mint new assets. 



In February, a coder brought Ordinals to Litecoin’s blockchain and people have taken note. The Litecoin Foundation, a non-profit that pushes for the cryptocurrency’s adoption, told Decrypt that over 2.6 million Litecoin Ordinals have been inscribed on the blockchain. 


“The Litecoin network so far has handled this enthusiasm without any issues,” they said in an email, adding that Litecoin fees have remained the same—despite the increase in activity. 


Meanwhile, Bitcoin transaction fees have soared to two-year highs since Ordinals became popular, leading some in the community to blast the craze



Litecoin was created in 2011 as a rival to Bitcoin. The idea was to make a peer-to-peer cash system cheaper than the oldest and most well-known digital currency. 


As of yet, the cryptocurrency hasn’t been successful at beating Bitcoin in terms of adoption. 


免责声明:本文章仅代表作者个人观点,不代表本平台的立场和观点。本文章仅供信息分享,不构成对任何人的任何投资建议。用户与作者之间的任何争议,与本平台无关。如网页中刊载的文章或图片涉及侵权,请提供相关的权利证明和身份证明发送邮件到support@aicoin.com,本平台相关工作人员将会进行核查。

ad
出入金首选欧易,注册立返20%
广告
分享至:
APP下载

X

Telegram

Facebook

Reddit

复制链接