Polygon records more transactions than BNB Chain over past month

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Blockchain
Polygon records more transactions than BNB Chain over past month

Polygon has overtaken BNB Chain as the most used smart contract blockchain in the last month. Polygon recorded more transactions than BNB Chain over the past month.

Polygon overtakes BNB Chain

Polygon has emerged as the most used smart contract blockchain in terms of transaction volume over the past 30 days. Data shows that Polygon has registered more transactions than BNB Chain during this period. This is a significant achievement for Polygon, as it demonstrates the strong demand for its platform and the trust that users and developers have placed in it.

Polygon records more transactions than BNB Chain over past month - 1
Transaction data for EVM Chains. Source: Dune Analytics

Polygon, formerly known as Matic Network, is a blockchain platform that aims to make it easy for developers to build and deploy decentralized applications. It utilizes an ethereum-compatible sidechain system and has seen tremendous growth since its launch. It is often seen as a more affordable version of the ethereum network.

Despite Polygon having registered more transactions than BNB Chain in the past 30 days, data also shows that ethereum layer 2 projects like Polygon have experienced a steep decline in daily transaction volume over the past year.

Polygon made strides during 2022

2022 was an eventful year for Polygon, with the company making multiple notable partnerships with projects in the cryptocurrency space. The company has also seen mainstream brands getting involved with decentralized finance (DeFi), non-fungible tokens (NFTs), and web3.

These developments have contributed to Polygon’s success and have helped to solidify its position as a leader in the blockchain space. One recent highlight for Polygon saw the number of unique addresses on the network reach 190.95 million on Nov.14, 2022, marking a significant milestone for the company.

The news came following the partnership with US sportswear retail giant Nike, which launched its own user-inclusive NFT marketplace, called SWOOSH. The platform was built for the Polygon’s infrastructure, further solidifying the company’s presence in the world of NFTs.

Polygon recorded another notable milestone of its own just a few days ago, with over 100,000 newly deployed smart contracts on its network. This is a testament to the company’s continued growth and success in the face of intense competition in the blockchain space.

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