See More

Polygon Daily Active Addresses Top Ethereum for First Time

2 mins
Updated by
Join our Trading Community on Telegram

In Brief

  • Polygon's daily active addresses surpassed Ethereum for the first time.
  • The number of MATIC addresses now stands at 351,000, with Ethereum’s standing at 326,000.
  • Since its inception, Polygon has consistently made progress in its technical development and expansion into the Ethereum ecosystem.
  • promo

Daily active addresses on the Polygon blockchain have crossed 351,000, surpassing Ethereum for the first time, which stands at 326,000.

The Polygon network has hit another major milestone, with its number of daily active addresses crossing that of Ethereum for the first time since inception. Polygon co-founder Mihailo Bjelic tweeted on Sept 27 about the landmark moment on Twitter, saying that it was “just the beginning.”

Polygon DAU: Mihailo Bjelic Twitter

The number of MATIC addresses now stands at 351,000, with Ethereum’s standing at 326,000. The feat is a remarkable development for a network that has quickly become a standard in the market. Its layer 2 scaling solutions have quickly been integrated by several projects, which have all vaunted its efficiency.

Polygon’s multichain system has helped reduce gas fees and greatly increase transaction speeds while maintaining network security. The framework is designed to be developer-friendly, and teams can deploy preset blockchain networks in one click while also making use of modules to create custom networks.

Founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic in 2017. The project is open source and rebranded from MATIC to Polygon. Advisors to the project include Hudson Jameson, Ryan Sean Adams, Anthony Sassano, Pete Kim, and John Lilic.

Since its inception, Polygon has consistently made progress in its technical development and expansion into the Ethereum ecosystem. 2021, in particular, has been a phenomenal year for the project, which now sees prominent names hopping on board.

Polygon grows as more take to its solution

Polygon has not slowed down, both in terms of business and technical aspects. It has received funding from multiple sources, besides getting some of the biggest names on board.

Among those are Ernst and Young, which will use Polygon for enterprise Ethereum scaling. Cream Finance and Set Protocol have also been launched on the network. Polygon is also expanding into the non-fungible token (NFT) space, with a new division focused on gaming and NFTs. The first project launched by Polygon Studios is the Rario NFT platform.

As for technical developments, the team released a general-purpose blockchain called Avail. The latter offers standalone chains and sidechains with arbitrary execution environments. It comes with multiple features to make the launch and handling of the blockchain easier. With the market’s trend towards NFTs, it is also working on providing extra security to NFTs and dApps in collaboration with Aleph.im.

Top crypto projects in the US | June 2024

Trusted

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 ConditionsPrivacy Policy, and Disclaimers have been updated.

Rahul-Nambiampurath.jpg
Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance from Sikkim Manipal University, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has helped DeFi platforms like Balancer and Sidus Heroes — a web3 metaverse — as well as CEXs like Bitso (Mexico's biggest) and Overbit to reach new heights with his...
READ FULL BIO
Sponsored
Sponsored