Leading blockchain data analytics platform Nansen recently released its quarterly analysis report, which revealed that the crypto market had witnessed a decline in 2022 compared to its 2021 activity volume., BNB Chain, and Avalanche, remained fairly stable, with Avalanche standing out as a rising star among the pack., Polygon’s scalability, energy-efficient PoS system, and low gas fees compared to other blockchains like Ethereum boosted its adoption in 2021 by almost 1,000%.
Interestingly, it recorded a massive gas spike in Q1 2022, which was a sign of growing activity. According to Nansen, the spike in gas prices was caused by SunflowerFarmz, a Polygon-based blockchain game.The game’s explosive growth in January had resulted in network congestion that sent gas prices skyrocketing. At its peak, the total daily gas fees paid by Polygon network users in January were almost 800% more than that paid in December 2021.
from Binance Smart Chain to BNB network is an indication of its intent to expand beyond its crypto exchange, Binance.Avalanche’s performance was one of the most impressive, Namsen said in the report. The blockchain recorded stellar growth in the previous quarter as its transaction volume continued to grow uninterruptedly.
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