NEAT, the first Near Chain enrollment standard, has significantly increased the number of daily on-chain transactions.
The Near network is recording an impressive number of transactions per day since the launch of NEAT, the first blockchain registration standard.
Near recently introduced the NEAT enrollment standard, as an important milestone that opens the doors to the creation of new digital assets on the blockchain network. This standard is similar to the well-known Ordinals Protocol, which is developed on the Bitcoin blockchain.
Ordinals became popular on the industry's most robust blockchain, thanks to its ability to register or record data and information directly in the chain. Due to their inherent characteristics, ordinals are appreciated by prominent figures in the crypto industry, such as Michael Saylor and Elon Musk, and even gold-mining advocate Peter Schiff, as an innovation that elevates the potential of Bitcoin use cases.
It may interest you: Peter Schiff launches Ordinals-based project on the Bitcoin blockchain
13,19 million daily transactions on Near
The number of transactions on Near skyrocketed to 13,19 million on November 30, following the announcement of the NEAT standard.
According to the chart shared by Near Protocol developers, the network was processing less than 2 million transactions per day before the launch of NEAT, so the arrival of this new registration standard on the network meant a 690% increase in the number of daily transactions.
While Near developers see the arrival of on-chain signups on the network as a major milestone, and the impressive increase in daily transactions, not everyone is happy with the launch. X user @Cameron_Dennis_ said that rather than bringing value to the Near network, NEAT felt more like an attack on the chain, making the user experience “much worse” for actual Near Chain users.
Registrations, a gateway for new tokens on public chains
On-chain inscriptions became popular with Ordinals in Bitcoin, allowing developers and users to record and preserve content, from data and images, to new digital assets, video games, and other files, such as NFTs on the blockchain.
However, unlike traditional NFT tokens, inscriptions are embedded and stored directly on the blockchain network.
Regarding NEAT, Near Chain highlighted that it is a new standard for launch new arbitrary digital assets and tokens, such as NFTs, security tokens and stablecoins, on the Near chain, which will unlock new use cases for it.
To date, the number of registered inscriptions on the Bitcoin blockchain amounts to more than 45 million. Blockchain data platform Dune Analytics shows that, at the time of writing this article, a total of XNUMX million have been registered. 45.727.860 registrations on the Bitcoin network.
Other blockchains, such as Avalanche, Polygon, and Solana, have also seen the arrival of the revolutionary inscriptions on their respective blockchains.
Continue reading: Elon Musk speaks in favor of Ordinals in Bitcoin
