- In May, both networks collected ATN by the number of transactions
- This happened after the launch of the LRC-20 and DRC-20 standards.
On February 19, the developers introduced Ordinals on the younger brother of the main cryptocurrency – Litecoin. The effect of the trend was not long in coming. On May 10, the Litecoin network reached its highest daily transaction volume ever (584,000 per day). As for Dogecoin, the network reached record transactions on May 18 – 1.2 million per day.
Recall that the launch of Ordinals on Litecoin occurred after the offer of a 15 Litecoin bounty. A bounty is a reward that people promise developers for solving certain problems. In this case, they were asked to fork Ordinals for a new version of the Litecoin Core software, i.e. version 0.21.2.1.
Initially, the reward was equal to 5 LTC, but then two more users added 5 LTC each. The programmers fulfilled the request of the community. And here is the result.
DOGE fans did the same. They copied the Ordinals protocol, introducing the new Doginals protocol.
However, the hype around Bitcoin Ordinals has subsided a little lately, and the number of daily transactions has been steadily declining. Therefore, the real driver of activity in Litecoin and Dogecoin was the emergence of the LRC-20 and DRC-20 token standards. These are tokens that offer users the opportunity to create new memcoins on two networks.
