According to BitInfoCharts, there were more than 1 million transactions in the Dogecoin blockchain on May 17.
This cryptocurrency normally has about 20,000 transactions per day, but the introduction of the DRC-20 token standard on May 9 led to an immediate increase in network activity.
The DRC-20 protocol was modeled after ERC-20 for Etherium and allows the creation of tokens “on top of” the blockchain.
Despite the dramatic increase in the number of transactions, not everyone likes the deployment of the DRC-20 token.
Critics point out that DRC-20 can lead to network congestion and that it departs from the purpose of Dogecoin.
“The Dogecoin DRC-20 community needs to stop this shameless hype,” a member of the Dogecoin community wrote on Twitter;
DOGE is Elon Musk’s favorite cryptocurrency. He has contributed to the growth of Dogecoin more than once with his posts and statements, and even temporarily put a DOGE image on the Twitter logo.
Earlier in May, digital artist Johnny Shankman tweeted out a video showing the process of creating the new EASY_MONEY token in just 27 seconds.