Polygon’s Records Six-Fold Growth in dApps Since Last October

Polygon, the layer-2 scaling solution for Ethereum, has been making some big moves in the industry lately. As the various arms of the blockchain constantly bring in new projects, Polygon has reached a new milestone with the dApps. Reportedly, the number of dApps on Polygon has reached 19,000 in the last five months.

Alchemy, an industry-leading web3 developer, recently released data on dApps growth on Polygon. As per this report, the number of dApps increased six-fold from a mere 3,000 last October. Experts take the data to signify how the network’s reliability grew in recent months.

On the other hand, the active teams of developers on Polygon are currently 8,000, which is more than 30% growth from the 6,000 reported last January, and the number would have been even less in October 2021. As per Alchemy’s reports, nearly 65% of the 8,000 teams chose to operate exclusively on Polygon, which is way above Ethereum’s 35%.

Alchemy’s contribution is significant in the new increased adoption rate of dApps on Polygon. The statements were released to confirm that Alchemy has worked closely with Polygon to mitigate network-level issues. It helped developers direct their energy into their product innovation and made dApp building more efficient than ever.

Polygon’s co-founder Sandeep Nailwal states, “The reliability and scalability of Alchemy’s comprehensive developer platform – from infrastructure and tooling to enhanced APIs and monitoring systems – is best in class.” As a result of their efforts, Polygon provided the necessary infrastructures and tools for developers to bring their projects.

Developer activity is an important sign of growth in a network. And there can be no doubt about the rising popularity of Polygon among them as the numbers even support it. Polygon’s proof-of-stake mechanism is responsible for 3.4 billion transactions with more than 135 million unique addresses. The network also brought in more than $5 billion in assets.

Polygon is currently one of the most-sought ecosystems in the crypto industry with cutting-edge infrastructures for DeFi gaming and NFTs. Polygon Studios is the NFT arm of the network and has successfully welcomed some of the reputable names in the industry. The current portfolio of Polygon boasts the likes of Aave, Uniswap, OpenSea, Animoca Brands, Lazy.com, DraftKings, Decentral Games, and The SandBox metaverse.

From here, Polygon is expected to go only forward given the suite of features it holds up the sleeves. Polygon Edge is a function that allows developers to build blocks from the ground up, and the network has built a data availability layer called Polygon Avail. Apart from these, several products are built based on the Zero-Knowledge cryptography to tackle network traffic and user privacy issues.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button
Bitcoin (BTC) $ 66,901.92
Ethereum (ETH) $ 3,551.72
Tether (USDT) $ 1.00
BNB (BNB) $ 607.85
Solana (SOL) $ 145.89
XRP (XRP) $ 0.51681
Dogecoin (DOGE) $ 0.133411
Cardano (ADA) $ 0.414946