As of December 2021, Polygon had surpassed a new adoption milestone, with over 7,000 decentralized apps (dApps) running on the network.
Dara from Alchemy, the world’s biggest Web3 developer platform, highlighted that the number of decentralized applications has more than doubled in three months.
Last year, the exponential growth of new applications in decentralized finance (DeFi) and non-fungible tokens (NFTs) caused congestion and spiking fees on the Ethereum mainnet.
To take advantage of low fees and high throughput, much of the activity shifted to Polygon. By October, the network had grown to over 3,000 dApps, up from only 30 a year ago.
According to Alchemy, the number of teams developing products on Polygon PoS has doubled every two months since mid-last year. At the end of December, that number had risen by 43% from the previous month to over 6,000. In the same time span, the influx has increased utilization by 74%.
Polygon’s wide range of scaling options and cheap transaction rates have attracted some of the most well-known Web3 platforms and developers, ranging from DeFi initiatives like loan platform Aave to luxury brands business Dolce & Gabbana and NFT marketplaces like OpenSea and Mark Cuban’s Lazy.com.
Uniswap’s community decisively approved the deployment of V3 of its protocol on Polygon in December, joining an already thriving DeFi ecosystem that includes blue chips like as Curve, 0x, Balancer, and 1inch.
Many teams are also opting to use Polygon exclusively. According to Alchemy data, 55 percent of projects have integrated solely on Polygon, while 45 percent have additionally deployed on Ethereum.
With a billion transactions recorded last year, Polygon PoS use has exploded. The network’s more than 130 million unique addresses and 2.67 million monthly active users currently generate 3 million transactions per day, more than doubling Ethereum’s volume.
Polygon blog was used as a source.