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What is Polygon Network?

Polygon, formerly known as the Matic Network, is a protocol and framework for building and connecting Ethereum-compatible blockchain networks. The protocol seeks to address some of Ethereum's major limitations, including its throughput, poor user experience, and lack of community governance, using a new chain solution.

Polygon is supported by Binance and Coinbase. The project seeks to widely accept cryptocurrencies and solve scalability problems in many blockchains.

Instead of being a simple scalable solution like the previous Matic network (which uses technology known as plasma to process out-of-chain transactions before finalizing them in the main Ethereum chain), Polygon is designed entirely for blockchain collaboration. Through Polygon, developers can set up predefined blockchain networks with features to suit their needs.

Methodology

First the first successful transaction of each unique wallet was extracted and then the number of new wallets per day was obtained over time.

Results

Conclusion

• Polygon platform From the beginning to the first of April 2021, on September 25, 2020 alone, the number of new daily addresses was more than 1000 unique addresses. It can be said that this network has not experienced significant growth in terms of attracting new addresses. During this 9-month period, September 25, 2020, is a very special day for the Polygon platform. On this day, more than 94.5k new addresses on Polygon had a successful transaction for the first time. This is hundreds of times more than the days before this day. This number of new Ares will not occur overnight, even a year after September 25th. (As of September 30, 2021, 96.6k new addresses have successfully traded on Polygon).

• The daily growth of the number of new addresses starts from March 2021 and reaches its peak in October and November 2021. (Most new addresses in one day, related to November 8, 2021 with more than 145 thousand new addresses)

• After October and November 021, a downward trend can be observed, which is not unreasonable. October and November 2021 were some of the brightest months in the world of cryptocurrencies, and after that, as the market declined, the number of new addresses dropped, which is not unexpected.