Polygon’s ecosystem is growing strongly with 170% growth year-over-year and over 19,000 dApps deployed

Polygon’s ecosystem is growing strongly with 170% growth year-over-year and over 19,000 dApps deployed


2022-05-03 19:57:25

The Polygon ecosystem has seen historic growth over the past few months and now supports over 19,000 dApps — an increase of more than 170% compared to January of this year.

This growth is also evident in the number of monthly active teams building on Polygon, which has grown from 3,000 to 8,000 in the past five months alone, according to data from Alchemy. The number of developers is even larger, their number increasing sixfold since October 2021.

Polygon’s Effort to Be the Platform of Choice in the Web3 Era

Insights into Polygon adoption show that the network is preparing to become the protocol of choice to power the Web3 ecosystem. Of the 19,000 dApps, more than 65% are hosted exclusively on Polygon.

These dApps forward 3 million transactions per day and leave Ethereum, Polygon’s biggest competitor, in smoke with 1.5 million daily transactions. This has led to many blue-chip DeFi platforms integrating into the Polygon ecosystem — Aave, 0x, Balancer, Curve, Uniswap and 1inch have all launched on Polygon in the past year.

Arjun Krishan Kalsy, Vice President of Growth at Polygon, told CryptoSlate that the growth the network has experienced has come from a combination of novel low-cost, high-speed infrastructure that supports the ecosystem unrivaled attitude and overall need for sustainability in the blockchain sector.

Kalsy says that Polygon’s ability to deliver a “frictionless” Layer 2 solution unlocks the full potential of dApps – both new and existing applications. Projects can benefit from extremely low fees and a sustainable environment that still promote the security and decentralization of Ethereum.

He believes it’s that sustainability that will keep projects coming to Polygon – once it’s carbon-neutral, it’ll be carbon-negative this year. Kalsy believes this will be a key point for developers and brands looking to build sustainability.

It looks like Polygon has positioned itself into a state of perpetual development. Providing developers with technology that is more innovative, agile and efficient than most other technologies on the market has made it an obvious choice for thousands of projects.

“Basically, Polygon positions itself as the only viable choice for those looking to build interoperable services on an EVM-compatible platform,” explains Kalsy. “The high synergies of culturally-driven projects in the emerging ecosystem brings tremendous value to those built on Polygon.”

This is evident in the even distribution of Web3 verticals in the Polygon ecosystem. Kalsy noted that the platform has seen exponential growth in gaming, DeFi, NFT, and the metaverse as all dApps launched on Polygon can support each other and grow together. their copper.

Both Kalsy and the rest of the team behind Polygon seem particularly worried about an impending bear market. While they were prepared for the severe impact of a sudden market downturn, they weren’t overly worried about Polygon’s future.

Kalsy says that a fundamentally strong business like Polygon will continue to thrive even in times of market volatility. This is because Polygon has focused on building the technology and providing ecosystem support – without paying too much attention to the market, Kalsy added.

The network’s reign as the king of Web3 isn’t going to end anytime soon, at least according to Kalsy. As the Web3 universe grows, so will the number and quality of its users, and Polygon will take the lead in supporting both the retail and institutional markets.

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