The number of applications on Polygon, a layer 2 solution, is rapidly growing, a report released on Wednesday by Alchemy, a blockchain development platform, has shown.
According to the report, this is making the Polygon ecosystem independent of projects on the Ethereum base layer.
Only about 30 apps were resident on the Polygon blockchain as of last year. However, the report established that the number of apps had increased to over 3000.
So far, Alchemy has seen the number of teams building on the network increase by 61% on a month-over-month basis.
According to Mike Garland, Alchemy’s product manager, Polygon seems to be growing twice faster than Ethereum did at this stage of its lifecycle. Though previously referred to as a sidechain, developers are currently working to position Polygon as a compliment rather than a competitor. What is more interesting is that the data number of new Polygon-native apps has exceeded that deployed to both chains, suggesting that Polygon is becoming independent from Ethereum.
The Alchemy report adds that 38% of the new apps deployed to Polygon are built on both Polygon and Ethereum while the remaining 62% are solely deployed to Polygon. Further analysis, according to Garland, suggests that Ethereum-native projects which are also deployed to Polygon are growing significantly, just like Polygon’ MATIC.
Garland said that the data shows how projects that are ETH-native but also deploy to Polygon are growing in tandem with fully MATIC-native projects.
“I think the most interesting thing to me about this data is that we’re seeing both developing in parallel (roughly 4/10 using Polygon alongside Eth, 6/10 using just Polygon),” Garland said, adding that “many teams that are launching and growing natively on Polygon, but also a substantial group using Polygon to deepen what they started in the Ethereum ecosystem and enable new use cases.”
