The trend of creating inscriptions seems to have some positive effects on blockchain networks, particularly those capable of handling increased transaction volumes. Various blockchain networks, such as Arbitrum and BNB Chain, have experienced record-breaking throughput due to the ongoing surge in inscription activities on non-Bitcoin-based chains.

According to data provided by the pseudonymous analyst "hildobby," who works at the crypto venture fund Dragonfly, Goerli, zkSync, Arbitrum, Gnosis, and the BNB Chain have all achieved their highest daily transaction per second (TPS) this month. The data reveals that between 83% and 97% of transactions on these chains are attributed to inscriptions. Furthermore, Fantom, Celo, Avalanche, and Polygon set new daily TPS records in November.

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Daily TPS records per chain. Source: X

The graph displaying daily TPS records for each chain indicates significant achievements, with Optimism reaching an hourly TPS record of 87,960 on Dec. 19 and Avalanche hitting 289,285 on Dec. 18, as per a Dune Analytics dashboard.

Looking at transaction counts on leading blockchains over the past two years, there is a noticeable spike during the current inscription trend. The expenditure on gas for minting new inscriptions has also reached unprecedented levels.

Similar to Bitcoin Ordinals, users have discovered that they can create inscriptions using transaction call data on EVM chains, allowing them to mint various items, from memecoins to social media profile pictures. This increased demand for block space has contributed to the surge in transaction activity.

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Transaction counts on leading chains. Source: Dune Analytics

Ava Labs co-founder Kevin Sekniqi highlighted on Dec. 19 that the Avalanche C-Chain achieved 977 TPS, causing several EVM chains to break. He described the inscription trend as a valuable stress test for existing infrastructure, underscoring the necessity for subnets to manage the additional loads.

It's worth noting that, as reported on Dec. 19, the inscription gold rush has not been without challenges, leading to full and partial outages on networks like Arbitrum, zkSync, Cronos, and Celestia.