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Avalanche Activity Surges Following On-Chain US GDP Publication

Avalanche Activity Surges Following On-Chain US GDP Publication

The Avalanche network has emerged as the leader in weekly transaction growth. Activity surged amid news of the US government’s use of blockchain for publishing economic data.

According to Nansen, the number of operations in the network increased by 66% over the past week, exceeding 11.9 million. The number of active addresses reached 181,300.

In terms of growth rate, Avalanche surpassed Starknet (+37%) and Viction (+35%). However, Base leads in total weekly transactions with 64 million operations.

The US Department of Commerce has already begun publishing gross domestic product (GDP) reports on decentralized networks.

The information appeared on nine public blockchains: Avalanche, Bitcoin, Ethereum, Solana, TRON, Stellar, Arbitrum One, Polygon PoS, and Optimism.

Oracles Pyth and Chainlink participated in the data dissemination. Exchanges Coinbase, Gemini, and Kraken also assisted in the publication. The department stated it would continue to expand the list of blockchains and services.

The ministry emphasized that it publishes data for informational purposes only and does not endorse any specific blockchains or services.

The department published the hash (SHA-256) of the PDF report, as well as the final GDP growth figure. The hash and data are recorded as notes in transactions or embedded in smart contracts. For EVM-compatible networks, the protocol was implemented in Solidity.

According to Commerce Secretary Howard Lutnick, publishing statistics in a distributed ledger will make reports “immutable and globally accessible.” He added that this would strengthen the US’s role as the “world capital of blockchain.”

Back in July, it was revealed that the Grove lending protocol from the Sky ecosystem would launch infrastructure on Avalanche for hosting tokenized assets worth up to $250 million.

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