There are now over 100 million unique addresses on the Polygon Network. The new milestones caps off an extraordinary growth period for the network in 2021.
The number of unique addresses on Polygon Network has hit an all-time high, crossing 100 million on Oct 17. The growth represents a remarkable rise for the full-stack scaling solution network, which has experienced exponential growth since the start of June 2021. The exact number of addresses now stands at 100,720,280.
September was a particularly strong month for Polygon, as it added a staggering 2.5 million new addresses on Sept 23 alone. The network has nearly doubled in terms of the total number of addresses from the start of September until now.
The network has hit other major milestones in recent months as well. Late last month, the number of daily active addresses crossed that of Ethereum’s for the first time. At over 351,000 daily active addresses — at the time — Polygon has quickly become a cornerstone of the cryptocurrency market with its scaling solutions.
Polygon was launched by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic in 2017. It underwent a rebranding from MATIC to Polygon, and its prospects have only looked up since. The project’s advisors include Hudson Jameson, Ryan Sean Adams, Anthony Sassano, Pete Kim, and John Lilic.
2021 has also seen more technical improvements on the network, but it’s not all been perfect. The number of Polygon transactions dropped by about half since there was a hike in gas fees to combat spam transactions.
More projects looking to Polygon’s solutions
The reason for Polygon’s growth is that its solutions have resulted in minimal gas fees and much higher transaction throughput. Projects have swarmed to it to refine their own networks. Polygon itself has been the recipient of funding from many sources, and future growth looks even more promising.
To keep up with the market, Polygon will launch a non-fungible token (NFT) division focused on gaming and the unique asset. The first project that Polygon Studio will launch is the Rario NFT platform. Other notable names like Ernst and Young, which will use it for enterprise Ethereum scaling. Additionally, Cream Finance and Set Protocol have launched on the network.
The Polygon team has also released a general-purpose blockchain called Avail, which permits the creation of standalone chains and sidechains with arbitrary execution environments. To support the burgeoning NFT space, it is collaborating with Aleph.im to create extra security for NFTs and dApps.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
