Polygon surpasses Ethereum as MATIC's active user base grows.

Despite having a smaller number of unique addresses than Ethereum, Polygon is gaining new users in the form of unique addresses quicker. In the past week, the network has gained almost 3 million unique addresses, compared to Ethereum's fresh total of 710,000 for the same period.


Polygon added 321,674 unique addresses today, bringing the overall amount to 98,017,344 according to Polygonscan statistics. In contrast, according to Ycharts data, Ethereum has only gained 130,000 unique addresses. Ethereum, on the other hand, has 171.87 million unique addresses.

Polygon has been claiming massive daily gains in new unique addresses since May of this year, when the figure surpassed 10,000. Since May of this year, the number of active addresses has increased by approximately 1600%. This is mirrored in its price, which is currently at a three-month high of $1.42 per token.

Polygon, in addition to NFTs, is now a popular blockchain for gaming dApps. It recently collaborated with Gamee to launch Arc8 esports, which is drawing thousands of people on Polygon every day. The game is really one of the reasons behind Polygon's recent increase in unique addresses. According to DappRadar statistics, it has over 177,000 and 336,000 users engaging with the smart contracts within 24 hours and 7 days, respectively.


The figure reflects the increasing demand for Polygon as a smart contract platform. Because projects or dApps developed on Ethereum's scaling solution are more scalable – it does enable a greater transaction throughput than Ethereum – developers have chosen it. It should be noted that several DeFi coins based on Polygon have recorded substantial gains in recent weeks.

Polygon adopted Mina Protocol via a bridge exactly one month ago to improve privacy for dApps and smart contracts developed on it. Since integrating with the zero-knowledge proofs protocol Mina, the platform can now handle NFTs with enhanced security, addressing the security and privacy issues that NFT collectors have faced on blockchains.

Polygon is now incorporated into OpenSea, a well-known NFT marketplace. During September, Polygon accounted for 49 percent of all transactions on the OpenSea marketplace. In fact, more people are purchasing NFTs on Polygon right now than Ethereum.

Many additional reasons may be driving increased demand for Polygon from new users - it is quicker in transactions and has cheaper transaction fees than Ethereum. However, in order to avoid spam transactions, the network has decided to increase gas costs to 30 gwei.

Share:

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Hot Topic

CEO of Messari: "Bear Markets Are Good for Cleaning House."

 Although most of the crypto industry has had a difficult winter, Messari CEO Ryan Selkis believes that a little austerity will be good for ...

counter, at the bottom of the page, in a table, div or under a menu.