What is Polygon MATIC? And how does Polygon work?

The Polygon Network, formally known as the Matic Network, is a secondary scaling solution based on the well-known and popular Ethereum Network.

To put it in the simplest terms, the Polygon Network solution works in conjunction with or on top of an existing blockchain network (as opposed to working as its own blockchain) – in this case, as mentioned, on Ethereum.

It is also known in blockchain industry terms as a 'layer 2 solution'.

Depending on your breadth of knowledge within the crypto space, you may be aware that Ethereum's transactions have become not only slow but also expensive.

While Ethereum has a great reputation and is considered the second largest cryptocurrency by market capitalization, the speed and cost of the network, especially during peak transaction times, pose many challenges for the crypto's future.

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Question

Q1. 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.

Description

These two graphs you see on the right

The first graph is the graph of the number of transactions on the Polygon network.

As you can see, this chart shows the data from the beginning of this month

In the first few days of July, the number of transactions had reached its lowest level due to a problem with the polygon network Many transactions were recorded on July 8 and 6

Description

The second graph you see shows the number of unique addresses At the beginning of the month, due to the technical problems of the polygon network, the number of unique addresses decreased, then increased

Explanations and conclusions

In order to check the status of the Polygon network, I have used the two charts above that show the status of the number of addresses and the number of transactions in the last 6 months.

In 2021, the status of the Polygon network had grown significantly

But in 2022, due to the declining conditions of the crypto market, the number of transactions and the number of unique addresses will not grow as before, it has taken a neutral trend, the main reason is the fall of the crypto market and the fear that governs it.

Method

To get these data, I have taken help from the tables available in flipsid data (polygon.events_emitted)

First, I have drawn two graphs from the beginning of jul

Then, for a general analysis of the growth of the polygon network, I have drawn two graphs in a period of 6 months