The Number of Decentralized Apps on Polygon Increased by 400%
The number of decentralized applications (DApps) on Ethereum-scaling-platform Polygon has topped 37,000, marking a 400% increase since the start of 2022. Polygon released the information in their blog post on August 10.
142 Million Unique Users
According to the blog post, more than 142 million unique user addresses and $5 billion in assets have been secured using DApps on Polygon. The network has currently executed about 1.6 billion transactions. The figure represents the total number of applications that have ever been launched on both the testnet and mainnet.
The company also mentions that at the end of July, there were 11,800 monthly active teams, up a staggering 47.5% from March. These numbers show developers’ engagement with blockchain. 74% of teams integrated exclusively on Polygon, while 26% deployed on both Polygon and Ethereum.
“We’re having quite a year at Polygon,” noted CEO Ryan Wyatt on Twitter, indicating that he was delighted with the expansion.
We’re having quite a year at @0xPolygon
~500 dApps in November, now 37,000+ with 11.8k active teams.
“Many projects are increasingly choosing to build solely on Polygon. Alchemy data shows that 74% of teams integrated exclusively on Polygon”https://t.co/ERiLHJiVdh pic.twitter.com/UzKZPlazWD
— Ryan Wyatt (@Fwiz) August 11, 2022
Partnership with Alchemy Was Crucial
The Polygon team pointed to a significant factor in the explosion of DApps on their network: collaboration with Alchemy. The team noted that the Web3 platform’s infrastructure makes developing DApps much easier for Polygon developers.
“Polygon’s partnership with Alchemy in June 2021 proved to be an adoption catalyst, sending the number of dApps running on the network to 3,000 in October, 7,000 in January, and over 19,000 as of April,” the company wrote in the blog post.
On the Flipside
By the time Ethereum 2.0 is finished in early 2022, the Proof of Stake consensus algorithm will have replaced the Proof of Work algorithm.
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