Decentralized Apps on Polygon Have Skyrocketed in Demand

Decentralized Apps on Polygon Have Skyrocketed in Demand
  • DApps on Polygon has topped 37,000, an increase of 400%.
  • End of July DApps activity rose 47.5% from March.

Decentralized applications (DApps) on Polygon, an Ethereum scaling platform, have surpassed 37,000, a 400% rise since the year 2022 began. The amount of applications that have ever been launched on both the testnet and mainnet is what the Polygon team revealed in a blog post on August 10 that was sourced from a Web3 development platform partner, Alchemy.

DApps Growth on Polygon

It also mentioned that at the end of July, there were 11,800 monthly active teams, up a staggering 47.5% from March, which is a gauge of developer engagement on a blockchain. A split of DApp projects was also emphasized by the project team, and it was notable that 74% of companies integrated completely on Polygon, whereas 26% deployed on both Polygon and Ethereum. 

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.

The Alchemy partnership, 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. 

According to CMC, at the time of writing, Polygon (MATIC) traded $0.9377 with a 24 hour trading volume of $529,009,669. MATIC has increased 5.17% in the past 24 hours and had a market cap of $7,535,128,975.

Journalism graduate who loves to write and Karate. And I love exploring new concepts and that brought me into the fascinating crypto and blockchain technology…