Decentralized apps (DApps) on the Ethereum scaling platform Polygon have surpassed 37,000, a 400% rise since the year 2022 began.
The amount of DApps that have ever been launched on both the testnet and mainnet was revealed by Polygon team in a blog post on August 10. It was sourced from a Web3 development platform partner, Alchemy.
It happens at a time when the number of blockchain-related monthly active teams increased to 11,800 in July from 8,000 in March.
It also mentioned that at the end of July, there were 11,800 monthly active teams, up a staggering 47.5 percent from March, which is a metric of developer engagement on a blockchain.
The project team also noted a breakdown of dApp projects, pointing out that “26% of teams deployed on both Polygon and Ethereum, whereas 74% of companies integrated entirely on Polygon.”
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.
The Alchemy relationship, which makes it “much easier for Polygon developers” to construct dApps, was noted by the Polygon team earlier this year as a major factor in the network’s growing number of 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.
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.
The native asset of Polygon, MATIC, has soared a massive 66.3 percent in the last month to sit at $0.92 at the time of writing, according to CoinGecko, as the cryptocurrency markets have recently shown signals of a possibly bullish resurgence. MATIC is now the sixteenth largest cryptocurrency asset with a market cap of $6.9 billion.
