Polygon Daily Active Addresses Top Ethereum for First Time

The Polygon network has reached another major milestone with the number of daily active addresses surpassing Ethereum for the first time since its inception. Polygon co-founder Mihailo Bjelic tweeted about the landmark moment on Twitter on September 27, saying it was "just the beginning".

The number of MATIC addresses currently stands at 351,000, while Ethereum's stands at 326,000. This achievement is a remarkable development for a network that is fast becoming the standard on the market. Tier 2 scaling solutions were quickly integrated by several projects that prided themselves on their efficiency.

Polygon's multi-chain system has helped reduce gas fees and greatly increase transaction speeds while maintaining network security. The framework is designed to be developer-friendly, and teams can deploy preset blockchain networks with a single click while using the modules to create custom networks.

It was founded in 2017 by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic. The project is open source and has been rebranded from MATIC to Polygon. Consultants for the project include Hudson Jameson, Ryan Sean Adams, Anthony Sassano, Pete Kim and John Lilic.

Since its inception, Polygon has made continuous progress in technical development and expansion into the Ethereum ecosystem. 2021 in particular has been an outstanding year for the project, which has now seen leading names aboard.

The closer the polygon is to its solution, the larger it gets.

Polygon has not slowed down, both business and technical. In addition to getting some of the biggest names on board, it has received funding from multiple sources.

Among them are Ernst and Young, who will be using Polygon for enterprise Ethereum scaling. Cream Finance and Set Protocol were also launched on the network. Polygon is also expanding into the non-tradable token (NFT) space, with a new division focused on gaming and NFTs. The first project initiated by Polygon Studios is the Rario NFT platform.

As for technical developments, the team has released a general purpose blockchain called Avail. Second, it offers independent chains and sidechains with arbitrary execution environments. It comes with multiple features to make the blockchain easy to start and process. Along with the market's trend towards NFTs, it is also working in collaboration with Aleph.im to provide extra security to NFTs and dApps.

Source: beincrypto.com