According to Kaiko AI Research, the Chain Abstraction token standard grew by 673% between January and August 2024, making it the highest-ranked token standard by growth rate among top cryptocurrency narratives. Meanwhile, the BRC20 network on the Bitcoin blockchain decreased by over 72%.
Chain Abstraction: Growth Leader
According to Kaiko AI Research, Chain Abstraction soared 673% between January and August 2024. This remarkable growth makes it the highest-ranked token standard by growth rate among the top four cryptocurrency narratives.
Decline of BRC20
In contrast to Chain Abstraction's growth, the BRC20 blockchain standard of the Bitcoin network plummeted by over 72% during the same period. This decline underscores significant market fluctuations and user adaptability to new standards.
How Chain Abstraction Works
Chain Abstraction is a blockchain standard designed to eliminate the user experience (UX) challenges typically associated with managing multiple blockchains. By simplifying blockchain interactions, it increases the adaptability of...
In summary, Chain Abstraction has emerged as the leader in growth rate among token standards in 2024, highlighting its significance and potential for further development in the cryptocurrency space.
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