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August 11, 2022

The Number of dApps On Polygon Reaches 37,000

It was revealed yesterday that the number of decentralized apps (dApps) running on the Polygon network has surpassed 37,000, representing a phenomenal rise of 400% from the beginning of the year to the present. This measure indicates the number of decentralized applications (dApps) that have been deployed, as well as the number that are in the process of being launched, on both testnet and mainnet.

To be more specific, the number of active teams, which is a key scale for blockchain developers, reached 11,800 at the end of July. This represents a significant growth of 47.5% when compared to the number of active teams in March. The remaining 26% of the project is deployed on both Polygon and Ethereum, while the remaining 74% of the product integrates solely on Polygon.

Polygon’s Proof-of-Stake (PoS) blockchain is compatible with EVM and is home to a huge variety of well-known cryptocurrency projects and businesses. These include NFT Marketplace OpenSea, Metaverse Decentraland, The Sandbox, the platform for DeFi Aave loan, and Animoca Brands venture capital fund.

According to the blog post, the deployment of decentralized applications (dApps) on Polygon has resulted in more than “142 million unique user addresses and $5 billion in assets safeguarded.” So far, around 1.6 billion transactions have been conducted on the network.

Ryan Wyatt, the CEO of the company, expressed his happiness straight away:

At the beginning of this year, the Polygon team pointed to their partnership with Alchemy as the primary reason behind the increasing number of decentralized applications (dApps) being developed on the network. Specifically, they mentioned how the infrastructure of the Web3 platform makes it “much simpler” for Polygon developers to build dApps.

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According to the report, “Polygon’s cooperation with Alchemy in June 2021 proven to be an adoption stimulant,” which caused the number of decentralized applications (dApps) operating on the network to increase from 3,000 in October to 7,000 in January and then to over 19,000 in April.

At the time of this writing, the current price of Polygon’s MATIC on the market is $0.9327.