June 8, 2023
Polygon News

Polygon Developer Ecosystem Poised for Massive Growth: Alchemy Data

Prominent blockchain development platform, Alchemy, has recently assessed and collated data on “Polygon vs. other chains.” Polygon Network recently published an Alchemy Data report gauging the growth potential of the Polygon developer ecosystem. It’s enticing to learn that “a growth trajectory” is next for Polygon, suggests the Alchemy Data.

Given a high demand of Ethereum scaling solutions lately, Polygon has witnessed rapid growth in 2021. Alchemy Data also shows that “the number of teams using Polygon doubled every two months recently.”

Consequently, with a rise in DeFi and NFT gas usage, Ethereum gas fees plummeted as projects shifted to Polygon for scaling solutions. As of October (2021), close to 3,000 dApps are built on Polygon, per Alchemy. That boils down to a swift journey from 30 dApps (October 2020) to 3,000 dApps in one year. Polygon as a scaling solution inside of the Ethereum ecosystem is used by major dApps, such as Sushi, Aavegotchi, and Arc8.

Among the already Polygon-integrated projects, 62% tend to operate “on top of Polygon,” as against 38% built across Ethereum and Polygon. Team growth is in vogue on Polygon, twice higher compared to Ethereum. This signals that teams find Polygon to be a duly dependable scaling solution.

Joe Lau, Alchemy Co-founder & CTO, stated:

we’ve been blown away by the Polygon ecosystem and the quality of its builders so it’s amazing to see just how quickly it’s growing. At Alchemy, we’re proud to power Polygon developers and help make this explosive growth possible.

Polygon has lately recorded a month-over-month usage growth of 145%, as of October (2021). In comparison to September (2021), 61% “more teams are building on Polygon”, per Alchemy. Alchemy is essentially working towards simplifying the Ethereum development process via development process streamlining, led by various development tools, APIs, and nodes’ infrastructure. Alchemy helps developers in easing the interfacing tasks via its tools, to allow focusing on the development aspect instead.

Alchemy’s Polygon Developer Portal is now accessible to use a “high-speed, low-cost, and secure infrastructure” on Polygon for developing dApps.

Sandeep Nailwal stated the following on Alchemy:

Alchemy’s tooling and infrastructure platform made developing blockchain easy and it is an essential resource for teams building on Polygon. The latest data shows that developers are taking notice. Having more developers built on Polygon with ease brings us a step closer to achieving our goal of mass adoption.

About Alchemy

Alchemy is a prominent blockchain developer platform that fuels leading Web3 applications and protocols in the DeFi and NFTs space. Alchemy’s single “magic line of code” supercharges dApps’ development. Alchemy is trustfully used by 70% of the leading Ethereum apps in the world. Offering a node infrastructure service, APIs, and developer tools, Alchemy assists teams in Developing leading dApps via Ethereum, Polygon, Arbitrum, Optimism, Flow, etc.

Alchemy’s clientele boasts leading brands, such as OpenSea, SushiSwap, and Axie Infinity. Also, 70% of the top industry projects have resorted to Alchemy, effecting over US$30 billion in on-chain transactions for global consumers.