Articles 9 push EVM chains to reach annual sales highs
The ongoing frenzy of minting scripts on non-Bitcoin-base chains has seen several blockchain networks reach all-time highs in resources, including Arbitrum and BNB Chain.
According to data from an analyst named “hildobby”, a data analyst at crypto venture fund Dragonfly, Goerli, zkSync, Arbitrum, Gnosis and BNB Chain, the daily peak transaction per second (TPS) hit in December.
Between 83% and 97% of transactions on those five chains were scripts. Additionally, the data shows that Phantom, Cello, Avalanche and Polygon hit new daily TPS records in November.
The Optimists hit a TPS record of 87,960 per hour on Dec. 19 and the Avalanche hit a TPS record of 289,285 per hour on Dec. 18, according to the analyst's Dune Analytics dashboard.
Looking back over the past couple of years, the transaction count on blockchains has peaked during the recent writing frenzy.
Spending on gas to produce new articles also rose to a new all-time high.
As with Bitcoin Ordinals, users have found that they can make articles using transaction call data on Ethereum Virtual Machine (EVM)-based chains. You can generate anything from a memecoin to a social media profile picture, which will inevitably increase the demand for block space.
Related: Why the Gold Rush for Texts Broke Half a Dozen Blockchains
On December 19, Ava Labs founder Kevin Seknicki said the Avalanche C-chain (contract chain) hit 977 TPS “and a lot of EVM chains just broke.”
He added that write-downs are a “great stress test” for current infrastructure, emphasizing the need for sub-networks to handle additional loads.
Thread (personal comments) on engravings.
First, if you're not familiar with them, there are tons of resources on Twitter. C chain hit 977 TPS, and many EVM chains are now broken. But this thread isn't about what the scripts are, just the engineering lessons to be learned.
— Kevin Sekniqi (@kevinsekniqi) December 19, 2023
As reported by Cointelegraph on December 19, the Gold Rush recordings also recently caused full and partial outages on several networks, including Arbitrum, zkSync, Cronos and Celestia.
Magazine: BlackRock Reviews BTC ETF Filing, El Salvador's Crypto-Citizenship In Progress, and More: Hodler's Digest, December 10-16
