Why a gold rush for inscriptions has broken half a dozen blockchains

The latest degen “gold rush” to inscribe everything from profile pictures to memecoins has led to at least half a dozen blockchain networks cracking under pressure over the past week.

The last few days have seen Arbirtrum, Avalanche, Cronos, zkSync, and TON all suffering partial or full outages recently due to inscriptions, with modular data availability network Celestia the latest to succumb, according to industry researchers who posted a screenshot of its block explorer on Dec. 18.

Videos have also been posted of mass minting on the Celestia network.

Screenshot from Celestia block explorer. Source: X/@Dogetoshi

“The team is actively investigating, but we can confirm that a sustained…

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