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Crypto News

Dogecoin (DOGE) Beats Bitcoin (BTC) in Daily Transactions Thanks to DRC-20 Standard

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Category

Crypto News

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

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Dogecoin (DOGE) passed Bitcoin (BTC) in daily transactions on Wednesday after the new DRC-20 standard was implemented.

According to new data from blockchain tracker BitInfoCharts, the number of daily transactions on the DOGE blockchain has reached a new all-time high, beating even that of the top crypto asset by market cap.

The DRC-20 standard is a set of rules that developers can follow to make tokens for the Dogecoin network. They are made with the same technology as cryptocurrencies but are usually not used as cash. Instead, they show who owns something. The DRC-20 standard is like the BRC-20 standard that Bitcoin uses.

The data shows that from May 10 to May 11, a day after DRC-20 tokens were released, the number of transactions on Dogecoin’s blockchain went from 48,547 to 456,491. This is a nearly tenfold rise. Just two days later, that number skyrocketed to 628,209 before plummeting all the way down to 88,453.

But on May 17, there were more than 1.1 million transactions on the memecoin, which was much more than the king cryptocurrency BTC at the time, which saw about 580,000 daily transactions.

According to the data, this is the second time that DOGE transactions have outpaced BTC operations. The first time was in December 2013, right after Dogecoin came out. At that time, Bitcoin had about 67,000 transactions, while DOGE had about 92,000.

When it came to daily transfers, DOGE was ahead of BTC at the time until about mid-February 2014.

At the time of this writing, Dogecoin is worth $0.074, which is a small drop from 24 hours ago. Bitcoin, on the other hand, is worth $27,017, which is a 0.85% increase from 24 hours ago.