Polygon (MATIC) Records Eightfold Increase in dApps Since January

Statistics show a 60% increase in Polygon dApps since June 2022.

polygon dapps
  • Statistics show a 60% rise in the number of Polygon dApps since June 2022, and an eight-times increase since the beginning of the year.
  • The number of live applications has increased 29% since the start of the year, surpassing 17,800.
  • The Ethereum scaling platform also saw an increase in monthly active teams, surging 27% to 13,700.
  • Polygon has expanded its ecosystem through its development efforts over the past few months, and is now being used by both Web 2.0 and Web 3.0 companies.

As per a report by Web 3.0 development platform Alchemy, more than 53,000 decentralized applications (dApps) are now running on Polygon, as of late September. Polygon recently published statistics illustrating a 60% increase in the number of dApps using the Ethereum scaling platform since June 2022.

Even more so, the data reveals an eightfold spike in dApp numbers on Polygon since the beginning of the year, though the figure covers the overall number of dApps unveiled on its testnet and mainnet.

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In terms of live applications, activity on Polygon has recorded a 29% spike since last quarter, reaching 17,800, representing a fourfold increase compared to the start of the year.

The Ethereum scaling platform further disclosed an increase in its number of monthly active teams. According to Alchemy, developer activity on the Polygon PoS chain spiked by an approximate 27% at 13,700. The data indicates that 66% of projects are directly building on Polygon, while others are being developed for Ethereum.

Polygon Hosts Both Web 2.0 and Web 3.0 Platforms

Polygon PoS is home to some of the most important Web 3.0 projects in the sector, including Aave, Uniswap V3, OpenSea, and Mark Cuban’s Lazy.com. Furthermore, firms such as Adobe, eBay, Nothing, Reddit, Robinhood, and Stripe utilize Polygon as their default gateway to Web 3.0.

The positive developments are due in large part to the efforts made by the Polygon development team in recent months to advance the network’s ecosystem. Most recently, the team launched the public testnet of its Ethereum scaling solution, known as the Polygon Zero Knowledge Ethereum Virtual Machine (zkEVM), just last week.

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Polygon also offers products beyond PoS, including Supernet, which serve as a fast-track platform for building application-specific chains, and Polygon Avail, which functions as a scalable data availability layer.

At press time, the scaling platform boasts more than 179.2 million unique user addresses, and has processed over 2.1 billion transactions.

On the Flipside

The recent developments, while credited to the Polygon team, are also considered to be related to the recent Ethereum Merge, which reportedly represents an important factor in helping companies choose Polygon for building their Web 3.0 platforms.

Why You Should Care

Polygon’s progress shows the growing use cases of the Ethereum scaling platform. Despite scalability issues related to Ethereum, firms remain confident in the network’s security, and are looking to Polygon to scale its capabilities.

 

You may also like: 

Polygon Launches World’s First Zero Knowledge Scaling Solution In Testnet

Polygon to Devote Resources to Help Terra Projects Migrate to the Polygon Network

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

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Soumen Datta

Soumen has been a dedicated researcher and writer in the field of cryptocurrencies for the last few years. Even though Indian crypto regulations are still unclear, he believes that India will continue to innovate in the years to come. He loves to play his guitar and sing along in his spare time. He holds bags mostly in BTC, ETH, BNB, MATIC, ADA.