Daily Transactions and Unique Addresses

    Daily Transactions and Unique Addresses

    Count and plot the number of daily transactions and unique addresses on Polygon, beginning July 1, 2022. In your estimation, discuss whether Polygon is still growing, has reached a plateau, etc.

    Methodology

    We are looking to see how the usage of poly has changed sing the first of july in terms of the number of users and transactions.

    What is Polygon?

    Polygon is a “layer two” or “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network's native cryptocurrency, which is used for fees, staking,

    What is the difference between L1s and L2s?

    A layer 1 (L1) network blockchain that serves as the base layer to store information that can represent: - assets such as tokens; - smart contracts which can form dApps. Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system. The main goal of these protocols is to solve the transaction speed and scaling difficulties that are being faced by the major cryptocurrency networks.

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    Conclusion

    In the past week there were over 20 Million transactions from about 900K wallets. Over the past week the number of users and transactions daily have gone down by a small amount, but have mostly stayed the same. Overall the activity on Polygon has sayed flat in July.