Alkanes Protocol Accounted for 61% of Bitcoin Transactions Over 90 Days, Data Shows
(3 days ago) · 1 source · Summarized by CryptoBipto
Data from SUBFROST indicates that the Alkanes protocol, which has strong adoption in Asian markets, drove 61% of all Bitcoin transactions over a 90-day period. The figures highlight the growing role of application-layer protocols built on top of the Bitcoin network.
WHY IT MATTERS
Bitcoin was originally designed as a digital payment system, but developers have been building new tools on top of it — similar to how apps are built on top of a smartphone's operating system. Alkanes is one such tool, or "protocol," that adds extra features to Bitcoin. This report suggests that a single protocol was behind the majority of Bitcoin transactions for three months, which shows how the way people use Bitcoin is evolving. For newcomers, this is a reminder that Bitcoin activity is not just about sending money from one person to another — it increasingly includes interactions with software applications built on the Bitcoin network.
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- bitcoinmagazine.com
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