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Polygon Becoming Increasingly Independent From Ethereum as App Numbers Rise: Report

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How lengthy does a layer 2 stay a layer 2?

A brand new report launched on Wednesday from blockchain improvement platform Alchemy reveals that the variety of apps on self-described Ethereum layer 2 Polygon is rising at a fast fee, and that the ecosystem is more and more changing into unbiased from tasks on the Ethereum base layer.

According to the report, there are now 3,000 apps on the chain, up from simply 30 final yr. Additionally, Alchemy has seen a 145% enhance within the variety of groups constructing on the chain month-over-month.

Per Alchemy product supervisor Mike Garland, it’s rising “2x faster than Ethereum did at this point in its life lifecycle.”

While Polygon is usually referred to as a sidechain and builders are working to place it as a complement to Ethereum moderately than a competitor, the info additionally reveals that the variety of new Polygon-native apps is outstripping the variety of apps deployed to each chains – probably an indication of rising independence.

Of the brand new apps deployed to Polygon, solely 38% are being constructed on each Polygon and Ethereum, versus 62% deployed solely on Polygon, per the report.

Garland stated that the info reveals how tasks that are ETH-native but in addition deploy to Polygon are rising in tandem with absolutely MATIC-native tasks.

“I think the most interesting thing to me about this data is that we’re seeing both developing in parallel (roughly 4/10 using Polygon alongside Eth, 6/10 using just Polygon). There are certainly many teams that are launching and growing natively on Polygon, but also a substantial group using Polygon to deepen what they started in the Ethereum ecosystem and enable new use cases,” he stated.

MATIC is up 3.86% on the day to $1.54, and ETH has risen 8.35% to $4,105 over the identical interval.

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