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, and more. You can buy or sell MATIC via exchanges like Coinbase.

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Question:

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.

Metrics:

1. Daily Unique Addresses on Polygon
2. Daily Transactions on Polygon
3. Total Transactions on Polygon (Since July 1, 2022)
4. Total Unique Addresses on Polygon (Since July 1, 2022)

Analysis:

If we look at the first graph in the top left corner we can see that on any given day there is anywhere from 1.5-2.8M transactions, with an average of about 2.2M daily. Overall on a day to day basis since July 1, 2022 the amount of transactions have remained pretty similar with little fluctuation. If we move onto the graph on the right we can see the total daily number of unique addresses which average around 210k. Similar to the last graph the amount of unique addresses daily have stayed pretty consistent since July 1, 2022 and this trend doesn’t appear that it will change anytime soon. I believe that since the amount of transactions daily have remained similar over time it is likely that Polygon has reached a plateau, although there are still more unique users everyday the amount of transactions they are making is the ultimate test to whether the platform is growing so overall I believe Polygon has reached a plateau.

Conclusion:

1. The amount of transactions made on Polygon and unique users on Polygon has remained pretty consistent since July 1, 2022.
2. I believe that Polygon has reached a Plateau because although there are more unique addresses using the platform everyday the amount of transactions made by those addresses remains roughly the same over time.