Dogecoin's Daily Transaction Reached Lifetime Highs After ‘DRC-20’ Tokens Introduced

$DOGE's daily transaction volume climbed to a lifetime peak earlier this week following the launch of DRC-20 standard, a new mechanism that now allows the issuance of tokens on the Dogecoin blockchain. By shauryamalwa.

Dogecoin's daily transaction volume rose tenfold from the average daily earlier this week to set a lifetime peak following the launch of a new mechanism that now allows the issuance of tokens on the Dogecoin blockchain.shows, briefly crossing both Bitcoin and Litecoin transactions that day before falling back to previous levels as of Wednesday.

These standards allow developers to issue tokens that take network fees in the form of dogecoin . This adds to the value proposition for dogecoin and lays the path for potential decentralized finance services built on the blockchain.Despite the bump in transactions, not everyone is amused with the DRC-20 token deployment. Critics point out that DRC-20 may lead to network congestion and that it moves away from dogecoin's aim of being used as an everyday currency.

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