Polygon Continues to Expand Independently from Ethereum

Written By Guest User

  • Polygon ($MATIC), the Ethereum layer 2 scaling solution, has continued to grow at an accelerated rate where the on-chain ecosystem has essentially become independent from the Ethereum base layer.

  • According to a report from blockchain development group Alchemy, the number of decentralized applications running on Polygon has grown to well over 3,000 compared to the 30 applications found last year. Alchemy has also noted a 145% increase in the number of teams building on the chain compared to last month.

  • The original intent behind Polygon was to build a side-chain that would complement and provide network relief for the overused Ethereum. It now acts as a competitor in the sense that the number of new Polygon-native applications is outpacing the number of applications running on both.

  • Only 38% of new apps on Polygon are built on both Polygon and ETH, whereas 62% of apps are only on the side-chain indicating a potential signal that Polygon is growing more independent of ETH.

Guest User
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