Polygon is a Layer 2 scaling solution that achieves scale by utilizing sidechains for off-chain computation and a Proof-of-Stake (PoS) consensus mechanism. It strives to solve the scalability and usability issues of Ethereum while not compromising on decentralization and leveraging the existing developer community and ecosystem. Polygon provides scalability and superior user experience for existing platforms including decentralized applications and user functionalities. Its PoS supports all the existing Ethereum tooling along with faster and cheaper transactions. Currently, Polygon has more than 19K dApps and more than 130M unique users. It has handled more than 3.4B transactions since its inception

In this analysis, the state of the Polygon network in terms of the daily transaction and the number of daily unique addresses has been investigated since the beginning of July. The required data for this analysis were collected from the fact_event_logs, fact_transactions, ez_matic_transfers, and fact_token_transfers tables of the core schema of the polygon database. For the calculation of users, the initiators of the transaction were considered the active users of the network.

The analysis of the daily number of transactions and the daily number of users has demonstrated that on average, the Polygon network has handled more than 2M transactions conducted by around 200K users daily. The numbers fluctuate over each week, however, the difference between days originates from them being a weekday or a weekend. Saturdays and Sundays have accounted for lower numbers compared to other days throughout the week. Overall, it can be concluded that regardless of the whole crypto market being in a massive downtrend since the beginning of 2022, Polygon has reached a steady state in terms of its daily activity. To further analyze the network, activities such as MATIC transfers, token transfers, and swaps were also investigated and indicated that they have followed a similar trend as the blockchain. Nevertheless, the number of users and transactions of token transfers have been higher than the number of MATIC transfers which has been higher compared to the number of swaps.

In conclusion, the analysis of the daily number of transactions and the daily number of users has indicated that the Polygon network has seen a steady level of activity since the beginning of July. Although the numbers differ for each particular day, each week has stayed in a similar range. The trend has also been similar for sub-activities on the network.