The Polygon network is reporting a notable increase in the number of decentralized applications. The number of DApps on Polygon has reached 37,000 representing a 400% gain since the beginning of the year.
Number of DApps on Polygon hit 37,000
The Polygon network shared the statistics of Polygon DApps on a blog post published on Wednesday. The blog post contained sources from the Alchemy Web3 development company. The Polygon team, said that the figure represented the cumulative number of applications that have launched on the testnet and mainnet.
The number of monthly active teams on the network also reached 11,800 towards the end of July, representing a 47.5% increase from March. The MATIC team also discussed the breakdown of the DApp projects that showed 74% of the teams had integrated on the Polygon blockchain, while 26% had launched on the MATIC and Ethereum blockchains.
The MATIC proof-of-stake blockchain is compatible with the Ethereum Virtual Machine (EVM). It supports several DApps from a wide range of projects and brands in the cryptocurrency sector including the OpenSea non-fungible token (NFT) marketplace. it also hosts metaverse networks like The Sandbox and Decentraland, and decentralized finance protocols like Aave.
Your capital is at risk.
The blog post also added that the use of DApps on MATIC had reported over 142 million unique user addresses and $5 billion in secured assets. the number of transactions processed on the network to date also stands at around $5 billion, and around 1.6 billion transactions processed on MATIC to date.
The CEO of MATIC , Ryan Wyatt, also commented on the development saying that he was impressed with the growth of the network. On Twitter, Wyatt said that the Polygon network was having quite a year.
Polygon’s partnership with Alchemy
At the beginning of this year, MATIC revealed its partnership deal with Alchemy saying that it was the driver behind the rising number of DApps launching on the MATIC. The Infrastructure offered by the Web3 network makes it easier for Polygon developers to build DApps.
MATIC also addressed the tooling infrastructure offered by Alchemy, saying that Alchemy was working alongside the project to resolve and mitigate the network issues as and when they occur.
Crypto markets have shown signs of a bullish recovery. MATIC, the native token for the MATIC, has registered a 66.3% gain over the past month to trade at $0.92 at the time of writing.