Blockchain

dApps On Polygon Hits 37,000 Milestone

Polygon (MATIC) continues to achieve an impressive new milestone in its journey of growth and development, following its Q2 2022 performance report. It comes as the number of monthly active teams for the blockchain reached 11,800 in July, up from 8,000 in March.

dApps On Polygon Hits 37,000 Milestone 4

Yesterday, it announced that the number of decentralized applications (dApps) on the network has reached 37,000, marking a spectacular growth of 400% year-to-date. This metric represents the number of dApps that have been and are being launched on both testnet and mainnet.

Specifically, the number of active teams – an important scale for developers on blockchain – reached 11,800 at the end of July, a hot increase of 47.5% compared to March. Of which, 74% of the project only integrates exclusively on Polygon, and the remaining 26% is deployed on both Polygon and Ethereum.

Polygon’s EVM-compatible Proof-of-Stake (PoS) blockchain is home to a long list of prominent crypto projects and brands, such as NFT Marketplace OpenSea, Metaverse Decentraland, The Sandbox, the platform for DeFi Aave loan, Animoca Brands venture capital fund…

dApps On Polygon Hits 37,000 Milestone 5

The blog post stated that dApp usage on Polygon has seen more than “142 million unique user addresses and $5 billion in assets secured,” with around 1.6 billion transactions processed on the network to date.

CEO Ryan Wyatt immediately expressed his delight:

Earlier this year, the Polygon team cited their relationship with Alchemy as the key reason behind the growing number of dApps being produced on the network, citing how the infrastructure of the Web3 platform makes it “much simpler” for Polygon developers to construct dApps.

“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 post read.

At the time of writing, MATIC is trading at $0.9327.

MATIC daily chart. Source: CoinCu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.