On October 17, 2022, the Polygon network made a milestone announcement on its Twitter account. An accumulative number of 53,000 decentralized applications (dApps) have built their homes on both Polygon’s mainnet and testnet, representing an 8x increase, according to Alchemy’s data.
https://twitter.com/0xPolygon/status/1582085275450101760
While that is a high mark, a more realistic representation is a 29% increase in live applications from the last quarter. The activities of developers on the chain have also seen an increase of around 27%, with their applications being built completely on the Polygon chain.
As one of the best layer two scalability solutions to Ethereum’s problem, Polygon created a relationship with Alchemy in June 2021.
The partnership has led to an upsurge in the development of Polygon’s ecosystem, making it popular for Decentralized applications and NFT projects. This upsurge is seen with over $5 billion worth of assets secured on the chain and 175 million unique users, accounting for the 2.1 billion transactions processed by Polygon’s proof-of-stake protocol.
Since some of the applications built on the Polygon chain aren’t consumer-focused, this allows the chain to serve as a hub for all kinds of applications. That is why some projects of immense importance in the Web3 space have also found their home on Polygon. These include Uniswap V3, Opensea, and other brands like Reddit, which use polygon as their entry point into the crypto space.
All of this is possible due to Alchemy’s leading API technology for Web3 projects. How have they achieved the milestones above?
Since the Polygon chain is leveraging Ethereum’s security protocol, all the applications on the polygon network require a fully maintained and deployed backend infrastructure. Maintaining this takes hours away from the developers, leaving them with less time to focus on upgrades, patches, and new features.
With the assistance of Alchemy’s API tools, developers are equipped for speedy deployment and redeployment. Alchemy works in Harmony with Polygon to rectify network-level issues and ensure continuous productivity.
With the current trends, Polygon seems set to power the Web3 ecosystem, and Alchemy is providing the needed support to shoot for the moon.
