Polygon Network Records 400% Increase in Number of DApps in 2022

UTC by Mayowa Adebajo · 2 min read
Polygon Network Records 400% Increase in Number of DApps in 2022
Photo: Unsplash

Polygon is having quite a year in 2022 and the number of DApps on the platform confirms the same.

Layer-2 Ethereum scaling platform Polygon network has revealed that it now has 37,000 decentralized applications (DApps). According to Polygon, this represents a 400% increase from what the figures were, as of the start of the year. The news was disclosed by the team via a recent blog post on reports from its Web3.0 partner Alchemy.

DApps on the Polygon Network

According to the report, a total of 37,000 DApps have been launched so far on the network. And that figure includes applications launched on either the testnet or mainnet of Polygon.

The report also shows impressive trends in developer activity on the blockchain. According to the report, the number of monthly active teams on the blockchain also surged by over 47% to reach 11,800 in July. Interestingly, this figure was only 8,000 as of March.

Furthermore, Polygon has also been able to classify DApp projects according to how they were integrated. The team claims that 74% of teams are deployed solely on the Polygon network. However, the remaining 26% are said to be integrated on both Polygon and Ethereum.

Meanwhile, sharing his thoughts about the company’s unprecedented growth amid a turbulent market period, Polygon CEO Ryan Wyatt excitedly tweeted:

“We’re having quite a year at Polygon.”

Alchemy Partnership: A Key Driver of Polygon’s Growth

Meanwhile, it should be noted that the massive growth that is evident on the Polygon network may be attributed to its partnership with Alchemy. In fact, the Polygon team confirmed this earlier in the year. At the time, the team claimed that the partnership will make it “significantly easier for Polygon developers” to build DApps. And certainly, this recent report appears to be enough proof that that partnership birthed an adoption spree.

Shortly after the Alchemy partnership happened in June 2021, the impact soon became clear. And by October, DApps on the network rose to 3,000. By the turn of the year, the number of DApps on Polygon grew to 7,000, before surpassing 17,000 in April.

Without a doubt, the use of DApps is one of the main reasons why the Polygon network now boasts of over 142 million unique user addresses.  The platform also claims to have $5 billion in assets, having processed nearly 1.6 billion transactions so far.

Blockchain News, Cryptocurrency News, News
Mayowa Adebajo

Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.

Related Articles