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Decentralised apps on Polygon hit 37,000, rocketing 400% this year

The NFT venture fund/gaming company Animoca Brands, host dApps on Polygon’s EVM-compatible proof-of-stake (PoS) blockchain.

74% of companies integrated completely on Polygon, whereas 26% deployed on both Polygon and Ethereum
74% of companies integrated completely on Polygon, whereas 26% deployed on both Polygon and Ethereum

Decentralised applications (DApps) on Polygon, an Ethereum scaling platform, have surpassed 37,000, a 400% rise since the year 2022 began, as reported by Cointelegraph.

The amount of applications that have ever been launched on both the test net 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.

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 emphasised 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 decentralised 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.

According to the blog post, more than 142 million unique user addresses and $5 billion in assets have been safeguarded using dApps on Polygon, with around 1.6 billion transactions having been carried out on the network as of this writing. The Alchemy relationship, 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, noted Cointelegraph.

The relationship between Polygon and Alchemy, which was announced in June 2021, “proven to be an adoption driver, driving the number of dApps running on the network to 3,000 in October, 7,000 in January, and over 19,000 as of April,” according to the report.

(With insights from Cointelegraph)

Also Read: What is the goal behind DeFi 2.0

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