INTRODUCTION

This dashboard looks at the daily transactions and Unique addresses on polygon starting 1-07-2022.

Polygon is a layer 2 scaling solution built on the Ethereum blockchain that offers cheaper and faster transactions than the Ethereum Layer 1 chain. On Polygon, developers can build accessible, scalable D-Apps without compromising on security as it’s backed by Ethereum’s security protocols.

We plot the data and and study the volumes over the given time period, while analyzing key metrics that determine network usage and trends in recent times.

METHODOLOGY

To analyze polygon’s performance, we look at the daily transactions by adding up the unique ‘to addresses’ and ‘from addresses’.

The transaction volume is got by counting the unique transaction IDs.

DATA ANALYSIS

1. The number of transactions, unique user addresses and volume on Polygon increased sharply on July 6th 2022.
2. The daily number of transactions increased sharply on the 6th of July from 141k to 2.7million in a single day, a 1,814% increase.
3. The number of unique addresses increased from 40k to 281k, a 602% increased within the same period.
4. The number of ‘to addresses’ increased from 7,680 to 91,000 and from addresses increased from 33k to 237k.

APPENDIX

Polygon website:

Logo:

CONCLUSION

From the 1st to 5th, network activity had plateaued on the platform, and then a sharp increase on the 6th onwards.