- Polymarket’s volumes and transactions surged on Election Day.
- Polygonโs handling of the DAppโs load has received praise.
- It is not the first time the network has shown a significant load capacity.
While Polymarket has been the undoubted star of the US election, there may be one overlooked hero: Polygon (POL), the network underpinning the application. On Election Day, however, the network’s contributions to the breakout crypto application’s success could no longer be ignored.
“The Unsung Hero”
Amid the US election cycle, Polymarket’s popularity has increasingly grown. With this rising popularity has also come a spike in several metrics. However, the platform has been able to navigate these spikes without any glitches, largely thanks to the infrastructure behind it: the Polygon (POL) network. This feat highlights blockchain’s growing potential for mainstream adoption.
Sponsored
Polymarket’s smooth handling on Election Day could not be overlooked, earning Polygon (POL) accolades from all sides.
Per Dune Analytics data, on Election Day, Polymarket saw a staggering $240 million in volume while recording approximately 360,000 transactions. Reacting to Polygon’s load handling, Dragonfly Managing Partner Haseeb Qureshi commended the network for having zero downtime.
“Volumes are going crazy and 0 downtime or issues as far as I’ve seen,” the VC chief wrote.
Responding to the accolades, Polygon (POL) co-founder Sandeep Nailwal lauded the network as “the unsung hero chain in crypto” while pitching the network to other prediction markets, contending that it is “battle-tested” and “fairly decentralized.โ
As highlighted by Nailwal, it is not the first time the network has shown significant capacity to handle load.
Polygon (POL) Surfs Inscription Wave
In Q4 2024, EVM chains were attacked by an enemy called inscriptions. Inscriptions refer to tokens created by editing transaction data, a technique invented to bring tokens to the less programmable Bitcoin network. This inscription wave washed over several networks, sinking many in its wake, save one: Polygon (POL).
At the peak of the craze, Polygon saw over 160 million inscriptions while still keeping network fees relatively low. However, facing only a fraction of this volume, most other chains became unusable, either by being unable to process transactions altogether or by having excessively high fees.
On the Flipside
- Polygonโs recent feats have done little to shake off POLโs lackluster price performance in recent months.
Why This Matters
Polygonโs smooth handling of Polymarketโs volumes showcased cryptoโs growing potential for mainstream adoption to the world.
Read this for more on Polygon:
Polygon (POL) Smashes ZK Proving Record in Push to Take the Tech Mainstream
Take a look at Trump’s crypto promises as he claims victory in the 2024 US elections:
Trump Wins US Elections: Here Are His Most Daring Crypto Promises
