DApps on Polygon hit 37,000, which is a 400% increase this year alone. This happens at a time when the number of blockchain-related monthly active teams increased to 11,800 in July from 8,000 in March.
dApps On Polygon Hit 37,000
The amount of applications that have ever been launched on both the testnet and mainnet is what the Polygon team revealed in a blog post on August 10 that was sourced from a Web3 development platform partner, Alchemy.
It also mentioned that at the end of July, there were 11,800 monthly active teams, up a staggering 47.5% from March, which is a gauge of developer engagement on a blockchain.
A split of dApp projects was also emphasized by the project team, and it was notable that 74% of companies integrated completely on Polygon, whereas 26% deployed on both Polygon and Ethereum.
A long list of well-known cryptocurrency projects and companies, including the NFT marketplace OpenSea, the Metaverse platforms Decentraland and The Sandbox, the decentralized finance (DeFi) lending platform Aave, and the NFT venture fund/gaming company Animoca Brands, host dApps on Polygon’s EVM compatible Proof-of-stake (PoS) blockchain.
According to the blog post, more than 142 million unique user addresses and $5 billion in assets have been safeguarded using dApps on Polygon, with around 1.6 billion transactions having been carried out on the network as of this writing.
“We’re having quite a year at Polygon”, noted CEO Ryan Wyatt on Twitter, indicating that he was definitely delighted with the expansion.
We’re having quite a year at @0xPolygon
💻 ~500 dApps in November, now 37,000+ with 11.8k active teams.
— Ryan Wyatt (@Fwiz) August 11, 2022
Partnership With Alchemy
Earlier this year, the Polygon team acknowledged their relationship with Alchemy as a key driver behind the network’s growing number of dApps, claiming that the Web3 platform’s infrastructure makes building 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,”
Application programming interfaces (APIs), Web3 architecture, and Alchemy’s collaboration with Polygon to resolve and mitigate network-level events when they happen were all mentioned in the post.
With the crypto markets exhibiting signs of a possibly bullish resurgence recently, Polygon’s native asset MATIC has risen 66.3% in the last month to $0.92 at the time of writing, according to CoinGecko. MATIC is now the sixteenth largest cryptocurrency asset with a market cap of $6.9 billion.
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