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.

The project was founded by Jaynti Kanani, Sandeep Nailwal and Anuurag Arjun in 2107 under the name Red Matic. It was then that the ERC-20 token by the name MATIC deployed on the Ethereum blockchain was developed. It was in 2019 when it was decided to rename the project as Polygon, not altering the name of the token.

The intention of this dashboard is to be creative and show what Flipside database can bring to the analytics and at the same time, trying to find some important Polygon insights.

Then, after a deep exploration of the database, I am gonna show you the best analytics extracted from that. In principle, the metrics I have extracted from the database have been the following and have been calculated by the past 30 days:

• Daily Polygon transactions per second (TPS)

• Daily Polygon transactions per block (TPB)

• Comparison of TPS between chains

• Comparison of TPB between chains

• Daily average fee per transaction on Polygon

• Comparison of daily average fee per transaction by chains

• Average time per block on Polygon

• Comparison of the avreage time between blocks by chains

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Results

In terms of TPS and TPB, it seems like in Polygon network both show similar trends. Both increased during the first dasy but then, entered in a constant decrease trend. However, the amount of TPS and TPB are higher than at the first levels.

Comparing the TPS between chains, it can be seen a big difference between Polygon and the rest of the chains, being Polygon the leader in numbers with numbers over 30 TPS, while the second one Avalanche having lower tha 3 TPS.

Not occurs the same with TPB, where Avalanche numbers are higher than Polygon ones, but both are on the top. The rest of the chains have low numbers.

The Polygon daily fees experimented some peaks during the first days reaching values over 0.25USD. However, it seems to be at a constant rate right now between 0.04 and 0.005 USD, which are extremelly low fees.

In fact, if we compare the Polygon fees with the rest of the chains, we can see how it seems neglibile on the chart because of the fees are so low in comparison with the major of the chains. In this case, Arbitrum are on the top with fees higher than 10 USD.

Finally, the average time per block on Polygon has decreased over the past 30 days. While during the first days the number was above 3.45, it is now near 2 seconds.

Comparing with the rest of the chains, Polygon has similar numbers in comparison to Avalanche. Optimism has the lowest values and BSC the highest ones with a huge difference with the rest.

Conclusions and key insights

In this dashboard we have analyzed different metrics of Polygon in terms of transactions and fees, as well as network blocks. The analysis also provides comparisons against different top chains like Avalanche, Arbitrum, Optimism and BSC.

The key insights extracted from the study have been the following:

• Polygon network TPS and TPB show similar trends increasing during the first days but then, entering in a constant decrease trend.
• There is a big difference between Polygon and the rest of the chains, being Polygon the leader in numbers with over 30 TPS.
• TPB Polygon numbers are also on the top sharing ranking with Avalanche.
• The Polygon daily fees experimented some peaks during the first days reaching values over 0.25USD. However, it seems to be at a constant rate right now between 0.04 and 0.005 USD, which are extremelly low fees.
• The Polygon fees seems neglibile on the chart in comparison with the rest of the chains.
• The average time per block on Polygon has decreased over the past 30 days.
• Polygon has similar numbers in terms of average time per block in comparison to Avalanche.