On the evening of April 1, the AK mine application group by CXC public blockchain started bit collisions and BTC soul mining. Bit collision consumed 2017 BTCs from 19:00 to 21:00, accounting for 1.95% of BTC transactions across the network. The hot launch of AK caused network congestion in BTC transactions. According to the data at 21:52, 6,300 unconfirmed transactions were recorded across the whole network.
During the same period, the number of contracts by BTC soul mining reached 4526 BTCs. BTC holders do not need to invest in BTC (only need to hold BTCs in wallets) to mine AK through POA agreement, which is the first time in 11 years since BTC was born that the market has a voluntary lock-up mechanism. As a result, BTC prices rose rapidly, exceeding 6,700 U.S. dollars in short time, by nearly 8% in a day.
The development of token industry needs pragmatic innovation. AK has brought subversive innovation in mechanism to the industry, which is worth studying and following by peers.
