Blockchain analytics platform Nansen disclosed in a tweet the top blockchains with the most 7-day active addresses to date. Binance Smart Chain (BSC), Ethereum and play-to-earn game Axie Infinity’s Ronin topped the list.
Binance Smart Chain, a smart contract‐enabled sidechain for Binance Chain, ranked first with the most active addresses of 4.14 million, as of February 21, 2022.The BSC blockchain network is built for running decentralized apps (DApps) such as decentralized exchange (DEX) PancakeSwap, play-to-earn games Crypto Bomb, MBOX: NFT Farmer, and others. According to Nansen, Pancake Swap contributed the most with 24% of the total log occurrences in the BSC chain, followed by Binance itself with 21%.
As reported by Nansen, Ethereum, a decentralized open-source blockchain, was only at the second spot on the list despite having the second high-valued cryptocurrency (ETH) with 2.05 million active addresses. Ethereum supports DApps such as cryptocurrency exchange Uniswap and the chain and blockchain oracle network Chainlink. Uniswap contributed the most in Ethereum’s log occurrences with 14%, followed by the 13% transactions percentage from Wrapped Ether (WETH), while Chainlink contributed 3.1% to the log. The biggest non-fungible token (NFT) marketplace, OpenSea, is also under Ethereum with a contribution of 1.45% occurrences– as of writing.
With 1.4 million logs, Ronin was third on the list with the most active addresses. It is an Ethereum sidechain created by game developer Sky Mavis for Axie Infinity’s community and the game’s growing demands. According to data aggregator Covalent, as of December last year Axie Infinity has 8.3 million players. With that said, Axie Infinity contributes the most in the daily transactions in the chain with 87% of the logs. Katana, the decentralized exchange for Ronin launched just November last year, contributed 3.42% of the transactions.
Moreover, secondary scaling solution Polygon was also on the list with 959,000 active users, followed by Avalanche, a smart contracts platform, with 313,000 users. Fantom, an open-source smart contract platform for digital assets and dApps, was 6th spot on the list with 214,000 active addresses.
Scaling solutions Arbitrum and Optimism, as well as global crypto payment infrastructure Celo were also among the chains with the most active addresses.
Cryptocurrency community has significantly grown over the past years especially in 2021 when the bull market was at its peak. The Philippine government however reminded the investing public that despite the Bangko Sentral ng Pilipinas (BSP) assured them that it has cryptocurrency specialists. The financial regulators of the country still emphasize that it still does not encourage people to invest in cryptocurrency and that the public must do their own due diligence before engaging. (Read more: BSP, SEC Do Not Encourage the Public to Invest in Crypto)
This article is published on BitPinas: Nansen: BSC, ETH, RON Top Chains with Most Active Addresses