The Polygon ecosystem (MATIC) has seen a 400% increase from the start of 2022 to date in the number of decentralized applications (DApps) created on the network.
This data came from Polygon’s partnered Web3 development platform, Alchemy, noting that the number represents the cumulative number of apps ever released on both testnet and mainnet.
He also noted that the number of monthly active groups – a metric that tracks developer activity on a blockchain – reached 11,800 at the end of July, up 47.5% from last March.
The project team also pointed out that 74% of dApps were integrated exclusively into Polygon, while 26% were developed on both Polygon and Ethereum.
Great Projects in Blockchain
Polygon’s blockchain works with a proof of participation (PoS) mechanism and is compatible with the Ethereum Virtual Machine (EVM).
It hosts dApps from a long list of great projects and brands in the cryptocurrency space, such as the non-exchangeable digital asset (NFT) marketplace OpenSea, the Metaverse, Decentraland and The Sandbox platforms, the decentralized finance (DeFi) lending platform Aave, as well as the NFT venture fund/gaming company, Animoca Brands.
Very high usage
The use of dApp on Polygon has secured more than 142 million unique user addresses and $5 billion in assets, with approximately 1.6 billion transactions processed on the network to date.
Polygon’s CEO, Ryan Wyatt, was clearly pleased with the growth of the network.
Important partnership with Alchemy
Earlier this year, the Polygon team made public its partnership with Alchemy as a key driver behind the growing number of dApps being created on the network, as the Web3 platform infrastructure makes it much easier for developers to create dApps on Polygon.
“Polygon’s partnership with Alchemy in June 2021 proved to be a catalyst for adoption, sending the number of dApps running on the network to 3,000 in October, 7,000 in January and over 19,000 in April,” the network post said.