Ethereum (ETH) off-chain scaling solution Polygon (MATIC) breaks Daily Transaction Record
Last week, the Polygon blockchain experienced an unprecedented surge in transactions, reaching a staggering 16,449,264 transactions on November 16th. This exceptional milestone represents a significant increase from the average number of daily transactions, which typically averaged below three million on the blockchain.
Polygon’s Seamless Handling of Transaction Spike
Sandeep Nailwal, the founder of Polygon, took to social media to highlight the network’s remarkable ability to handle the spike in transactions seamlessly. According to Nailwal, the network did not experience any downtime, despite processing over 16 million transactions. At its peak, Polygon’s proof of stake (PoS) demonstrated an impressive throughput of 255 transactions per second, surpassing the entire Ethereum ecosystem combined. The validators generated approximately $1 million in transaction fees in a single day, with gas fees reaching unprecedented levels.
Game-Based Transactions on Polygon Chain
Nailwal suggested that the sudden surge in transactions could be linked to the launch of a new metaverse game, Baby Shark, based on the Polygon chain. This game potentially contributed to the meteoric increase in transactions. However, Nailwal hinted that the transaction levels could return to normal once the minting process for the game ends.
Nailwal credited the efficient handling of the transaction volume to ongoing efforts to improve the Polygon ecosystem. He recognized the contributions of engineering contributors and the implementation of upgrades to the PoS protocol as critical factors in enabling the network to handle the monumental surge in transactions.
Hot Take: Is Polygon Poised for Long-Term Success?
Polygon’s ability to process an unprecedented number of transactions in a single day is a testament to the scalability and reliability of its off-chain solution. With ongoing upgrades and developments, Polygon is positioning itself as a formidable player in the blockchain space, providing a robust infrastructure to support the burgeoning metaverse and gaming industry.
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