Hello everyone, in this article we will talk about the Polygon network.

Polygon is a scaling solution for Ethereum. As you may know, Ethereum is the most popular layer one in the crypto industry and many developers have built different Dapps on it. Since Ethereum is extremely popular the network could get crowded sometimes and become expensive for a retail user. To solve this problem some people propose different methods to help to Ethereum network scale and Polygon is one of the best of them. Let's pause the scaling concept AKA L2 here and answer the question first and then we will return to it.

The first question is straightforward, it asks about the number of daily transactions and unique addresses from the 1st of July; the number of the transaction indicates how much the network is being used and the unique address thing shows the new people/accounts that are entering/using the network in a simpler word it shows the trustworthy of network and adoption of it by people. As you can see in the charts below numbers of good and relatively steady so by these metrics in the requested time frame network is doing OK.

Note: I define the unique address count as distinct addresses which initiate a transaction or more in a day.

The second part of the question is asking about the future of Polygon. Talking about the future is usually hard and when if we are talking about the future in crypto it is even harder since there are much more variables and uncertainty in this market but I going to try my best with the help of currently available evidence. (The first part is not very useful to answer the second question because of its limited time frame and ignoring other players) 

  As we discussed earlier Polygon is an L2 solution that will help more people use Ethereum at a lower fee. So the future of Polygon depends on two main factors:

1. The existence and growth of the Ethereum network.
2. Providing good solutions and UX/UI for Ethereum users. 

\n Talking about the first part is easier; while there is no sure thing but there is a good chance that we will see Ethereum for a Long time. It creates a network effect, a very strong and loyal user base, has attracted lots of developers and many projects have been built upon it. If you believe these things that I said and also believe that Blockchain is a new technology that has lots of room to grow you would agree that even in the worst cases Ethereum will grow even more in the coming years.    

 Since we are in a decentralized world here, scalability is always going to be a problem and with the current technology and knowledge, we could never reach a scalability level as the centralized system offers, so L2s are a need.

Now let's go two the second part. Is Polygon itself good enough and could survive and grow in a highly competitive section like L2? the current solution proposed by Polygon is not the best one but since it's one of the oldest ones, unlike the others it has an established user base (1) and it has the financial resources to do R&D (2) (Which it is doing so very aggressively, such as acquiring projects that are working on different L2 solutions like Zk, etc.) and there are lots on exclusive Dapps built on it and a lot more that support their network right now (3) and last point but differently not the least it has proved to be functional even under substantial pressure (4).

Given the reason that I mentioned above, there is a good chance that we would see Polygon for a long time as well, and not only as a name - dead project - but as an active player in the market which could play an important role; So, in the long run, I would say Polygon has room to grow and is not done or even in the Plato state. Of course, I am not talking about the short term since we are in the bear market, and depending on the duration of it we could see less activity in the market as a whole and Polygon as well. 

\n Hope you find this article useful, 

Sincerely M