Introduction and methodology

Polygon (MATIC) is a project that seeks to correct the problems of Ethereum's transaction processing capacity per second. It wants to offer a solution that allows communication between different blockchain. All with the aim of improving the capabilities in Ethereum to support different decentralized solutions and solutions for decentralized finance, also known as DeFi.

The Polygon (MATIC) project proposes the following:

• An improvement in security by moving to Proof-of-Stake (PoS) consensus.
• Improving the user experience through a much more intuitive interface. It also seeks to offer native mobile apps and a software development kit that supports WalletConnect.
• Blockchain that can support different types of protocols and consensuses.
• Solve the scalability problem, adding greater capacity to process transactions per second, lowering transaction fees and ensuring security
• Implement interoperability between sidechains, allowing the exchange of data and assets between different blockchains.

Transaction fees serve two essential purposes when it comes to blockchain networks. They reward miners or validators who help confirm transactions and help protect the network from spam attacks.

Transaction fees can be both small or large, depending on the network activity. Market forces can also influence the fees you pay. While high fees can hinder wider blockchain adoption, very low fees could potentially bring security concerns.

Another important feature for the platforms are the number of unique users that are interacting with it. It serves as a measure to know the hype of the chain.

In this dashboard we are gonna plot and compute the number of daily transactions and unique users from July 1st. The main features investigated are:

• Daily number of transactions
• Cumulative number of transactions
• Daily unique users
• Cumulative unique users

Results

In terms of Polygon transactions, the daily number ranges from 2M to 3M during all July month. Since July 1st, more than 25M of transactions were executed on the platform. On the other hand, the amount of daily unique users ranges from 194k to 237k. More than 2M unique users were active on Polygon since July 1st.

In both cases, the trend is similar because transactions and users charts show a constant and regular numbers over time. In fact, looking at the final comparative chart, we can see how there is a strong positive correlation between the number of transactions and the unique active users. When one variable goes up, the other do the same and on the other way around.

Then, we can assess that instead a plateau, it seems that Polygon reached a consolidation ranging between these aforementioned numbers.

Conclusions and key insights

In this dashboard we have analyzed the Polygon daily transactions and the unique users. We have count and compared both since July 1st. The key insishgts extracted from the analysis have been the following:

• The daily number of transactions ranges from 2M to 3M during all July month.
• Since July 1st, more than 25M of transactions were executed on the platform.
• The amount of daily unique users ranges from 194k to 237k.
• More than 2M unique users were active on Polygon since July 1st.
• Transactions and users charts show constant and regular numbers over time.
• There is a strong positive correlation between the number of transactions and the unique active users.