IMPORTANT POINTS:
- Polygon transactions record: More than 16 million transactions a day, which exceeds the daily average.
- Polygon efficiency in the face of high demand: The network manages the peak without interruptions, which emphasizes its stability and scalability.
- Impact of the Metaverse Baby Shark game: Possible influence of the launch of the Baby Shark game on increasing Polygon transactions.
The Ethereum scalability solution Polygon (MATIC) recorded an impressive milestone in its history with the highest number of transactions processed in a single day. On November 16, the Polygon blockchain experienced unprecedented transaction volume.
A Spike in Transaction Volume
The Polygon network saw a total of 16,449,264 transactions in one day, which represents a large and sudden increase from a daily average of less than three million. This increase in transaction volume marks a significant moment in the development and capacity of the network.
Sandeep Nailwal, founder of Polygon, highlighted in a post on the social media platform At its peak, Polygon’s Proof of Stake (PoS) system reached a throughput of 255 transactions per second, almost triple the entire Ethereum ecosystem combined.
Network validators generate approximately $1 million in transaction fees a day. In turn, block rewards amounted to 155,000 MATIC, which translates to an estimated $1.2 million in revenue for validators in one day, despite gas rates reaching extremely high levels.
The Momentum Behind Progress
Nailwal suggested that the launch of a new metaverse game called Baby Shark, based on the Polygon chain, could be behind this spike in transactions. In his words, the end of game mining may return the network to a low level of activity.
Basic Network Development
Polygon’s founder also attributes the network’s ability to effectively handle this volume of transactions to improvements and upgrades Polygon’s PoS chain has made in recent months.
This landmark event at Polygon not only demonstrates the scalability and efficiency of the network but also highlights the growing popularity and use of blockchain-based applications, such as gaming in the metaverse, which drives the demand and traffic of these networks.
