It happens at a time when the number of blockchain-related monthly active teams increased to 11,800 in July from 8,000 in March.
Decentralized applications (DApps) on Polygon, an Ethereum scaling platform, have surpassed 37,000, a 400% increase since the year 2022 began.
The numbers were released by the Polygon team in a blog post on Wednesday and came from Alchemy, a Web3 development platform that is partnered with Polygon. The team noted that the number represents the total number of applications that have ever been launched on both the testnet and mainnet.
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 activity on a blockchain.
A breakdown of DApp projects was also emphasized by the project team, and it was notable to note that “74% of teams integrated exclusively on Polygon, while 26% deployed on both Polygon and Ethereum.”
A long list of well-known projects and names in the cryptocurrency industry, including nonfungible token (NFT) marketplace OpenSea, Metaverse platforms Decentraland and The Sandbox, decentralized finance (DeFi) lending platform Aave, and NFT venture fund/gaming company Animoca Brands, host DApps on Polygon’s Ethereum Virtual Machine (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 secured using DApps on Polygon, and the network has currently processed about 1.6 billion transactions.
We’re having quite a year at Polygon, noted CEO Ryan Wyatt on Twitter, indicating that he was clearly pleased with the expansion.
We’re having quite a year at @0xPolygon
💻 ~500 dApps in November, now 37,000+ with 11.8k active teams.
“Many projects are increasingly choosing to build solely on Polygon. Alchemy data shows that 74% of teams integrated exclusively on Polygon”https://t.co/ERiLHJiVdh pic.twitter.com/UzKZPlazWD
— Ryan Wyatt (@Fwiz) August 11, 2022
The growing number of DApps being developed on the network was cited as a major contributing factor earlier this year by the Polygon team. This is because the infrastructure of the Web3 platform makes it “significantly easier for Polygon developers” to build DApps.
The partnership between Polygon and Alchemy, which was announced in June 2021, “proved to be an adoption catalyst, sending 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 post.
The article highlighted Alchemy’s platform tooling, Web3, and DApp infrastructure, including application programming interfaces (APIs), and also mentioned how Alchemy collaborates with Polygon to “hand-in-hand resolve and mitigate network-level incidents when they occur.”
Polygon’s native asset, MATIC, has surged a significant 66.3% in the past month to sit at $0.92 at the time of writing, according to CoinGecko, as the cryptocurrency markets have recently shown signs of potentially bullish recovery. MATIC is currently the sixteenth largest cryptocurrency asset with a market cap of $6.9 billion.
