Polygon‘s MATIC coin is classified as a small-cap enterprise, with a market valuation of approximately $15.7 billion. The scalable solution, on the other hand, makes up for its size in integrations and widespread acceptance. In October, Polygon’s utilization grew by 145% month over month, with 61% more development teams using the layer-two protocol than in September.
Polygon is used natively by 62% of all projects, compared to Ethereum and Polygon being used concurrently by 38%. That over 3,000 dApps have debuted on Polygon since last October only serves to bolster the argument.
The Polygon SDK, a modular and adaptable framework provided by Polygon, has been a big pull for many developers. As a result, it has risen to the position of best scaling solution for the well-known dApp provider. For app validation and deployment, it’s an attractive alternative to the base protocol because of its 65,000 transactions per second (TPS) throughput, cheap cost, and energy efficiency.
The creation of the Polygon Ecosystem Index (PECO) token, which will provide visibility to Polygon-native applications, is another noteworthy achievement. This will keep tabs on the likes of Quickswap DEX and DFyn. By comparison, the Ethereum network faces stiff competition from Polygon, according to these statistics.