The variety of unique addresses on the Polygon (MATIC) network has recently hit a new all-time high above 100 million as users keep benefiting from the low transaction charges on its network and using it to enter decentralized finance (DeFi) applications.
The network’s growth has been regular over time, with an exponential growth period seemingly beginning in June of this year. In September the Polygon community added over 2.5 million new unique addresses in one single day, with the overall variety of unique addresses doubling since then.
It’s value noting that unique addresses do not essentially represent users on the network, as one user can create as many addresses as they’d like. It’s, however, a metric often used to gauge how used a blockchain is, as it’s impossible to tell what number of customers it has.
Notably, this month the network elevated its transaction charges 30x from a default value of 1 gwei to a minimal worth of 30 gwei, based on a post revealed by Polygon co-founder Sandeep Nailwal suggesting the move was crucial to deter spam transactions on the network.
The transfer sparked criticism among the cryptocurrency community, as members questioned why the move was applied without notice to most customers and whether any feedback was collected earlier than the transfer went forward.
Nailwal responded to the community saying the change was “recommended to reduce the spam transactions within the network,” before including that as it’s a “client-level configuration you are free to run your node with old/different settings as per your wish.”
Regardless of the controversy, MATIC’s price has been steadily rising and is now near the $1.5 mark. Polygon is used by a number of main DeFi projects together with CREAM Finance, SushiSwap, Balancer, and others.
The views and opinions expressed by the writer, or any people mentioned in this article, are for informational purposes only, and they don’t represent monetary, funding, or different advice. Investing in or trading crypto assets comes with a risk of financial loss.