The number of decentralized applications on Polygon grew by 400%

The number of decentralized applications on Polygon grew by 400%

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The Polygon blockchain continues to evolve despite the recession in the cryptocurrency market – many companies create their decentralized applications in this ecosystem.

The Polygon team has published fresh statistics obtained from the Web3 Alchemy partner platform. According to the report, the number of decentralized applications (DApps) on the platform has surpassed 37,000, an increase of 400% since the beginning of the year. The developers emphasized that the figure represents the cumulative number of applications ever launched on both test and main networks.

Also, the number of active teams – the monthly measure of developer activity on the blockchain – reached 11,800 at the end of July, up 47.5% from March. The team highlighted a breakdown of DApps projects that showed that 74% teams integrated exclusively on Polygon, while 26% deployed on both Polygon and Ethereum.

Recall that the Polygon blockchain hosts applications from such projects as the Decentraland and The Sandbox metaverses, the OpenSea non-fungible token (NFT) marketplace, Aave, a decentralized finance (DeFi) lending platform, as well as applications from the gaming company Animoca Brands.

The developers claim that when using DApps in Polygon, more than 142 million unique user addresses and assets worth $5 billion were recorded. At the same time, about 1.6 billion transactions have been processed on the network to date. According to CEO Ryan Wyatt, Alchemy data shows that many projects are increasingly choosing to build their business on Polygon.

Earlier, Wyatt said that after the collapse of the Terra ecosystem, projects based on this blockchain are massively moving to Polygon.

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