Layer two protocols have seen monumental development this 12 months and considered one of them has briefly surpassed the community it’s a scaling answer for, by way of energetic addresses.
The variety of every day energetic distinctive addresses on layer two aggregator Polygon has surpassed these on the excessive payment layer one Ethereum in keeping with protocol co-founder Mihailo Bjelic.
Based on his stats, Polygon had 351,000 every day energetic addresses on Sept. 27 whereas Ethereum had 326,000.
One other large milestone for @0xPolygon!
We eclipsed Ethereum L1 in every day energetic addresses for the primary time!
That is only the start. We’re working around the clock to enhance our tech, strengthen our ecosystem and improve adoption.
Let’s carry the world to Ethereum! pic.twitter.com/K4sAF1y3LT
— Mihailo Bjelic (@MihailoBjelic) September 29, 2021
Based on Polygonscan, the variety of energetic addresses skyrocketed on Sept. 20, hitting a peak of 426,586 on the twenty seventh earlier than falling again barely to 385,740.
Etherscan is reporting that Ethereum’s every day energetic tackle depend was 457,402 on Sept. 29 so the 2 are fairly evenly matched in the meanwhile.
The variety of energetic addresses on Polygon has surged 330% over the previous 3 months whereas Ethereum’s have really declined by 12% for a similar metric over the identical interval.
By way of cumulative distinctive addresses, Ethereum is method forward with 170.8 million as of Sept. 29 in keeping with Etherscan, whereas Polygon had 89 million complete district addresses yesterday. Nevertheless, Matic solely rebranded to Polygon and launched in February so its development has occurred over a shorter time frame.
Polygon has a higher variety of transactions at current in keeping with Polygonscan with 5.7 million complete transactions recorded for Sept. 29 in comparison with 1.1 million on Ethereum layer one. This will largely be attributed to Ethereum’s excessive charges which have elevated once more just lately.
DeFiLlama at present stories that the entire worth locked of all protocols on Polygon is $4.81 billion, nonetheless it has greater than halved since its mid-June all-time excessive of $10.54 billion. The preferred protocol on the community is flash mortgage platform Aave which has $1.77 billion TVL, or 37% of the entire.
Polygon obtained a large endorsement in Might when billionaire investor Mark Cuban added it to his portfolio. Its native token, which remains to be known as MATIC, has gained 5.2% over the previous 24 hours to achieve $1.14 in keeping with CoinGecko.
Ethereum transaction charges have skyrocketed once more in latest days which has contributed to the surge in exercise on layer two protocols. Based on Bitinfocharts, the common transaction value on the Ethereum community is at present round $23. Extra complicated operations akin to DEX token swapping or sensible contract interactions can value as a lot as $66 in gasoline in keeping with Etherscan.