Polygon Surges to Second Place Among Gaming Blockchains in March {2023}

In March, Ethereum layer-2 (L2) Polygon experienced a surge in user activity, making it the second-largest blockchain gaming network in terms of unique active wallets (UAWs), according to a report by DappRadar, a decentralized application (DApp) analytics platform.

The report shows that the number of UAWs participating in games on Polygon reached 138,081 in March, a 53% increase from February. This places Polygon significantly ahead of third and fourth-ranked blockchain gaming networks Hive and BNB Chain, which had 84,000 and 80,000 UAWs, respectively. However, the first-place network, WAX, is far ahead of the others with 314,000 UAWs.

 This data indicates that Polygon is becoming increasingly popular among gamers due to its user-friendly features and low transaction fees, which are essential in the gaming world. As a result, Polygon’s network is expected to continue growing as more developers and gamers adopt its platform for their gaming activities.

According to a report by DappRadar, Polygon, previously known for DeFi DApps, has now overtaken Hive to become the second-largest gaming blockchain network. This shift is seen as a positive sign for Polygon, as it gains more recognition as a platform for gaming.

The increase in unique active wallets (UAWs) on Polygon was partly due to the success of BoomLand’s Hunters On-Chain game, which saw a UAW increase of over 17,000% in the past 30 days alone. Hunters On-Chain is an RPG with NFT integrations and a similar look and style to Minecraft. It is a Web3 adaptation of BoomLand’s popular mobile game Hunt Royale and is free-to-play.

This success demonstrates the potential for blockchain technology in the gaming industry, and the user-friendly features and low transaction fees offered by Polygon make it an attractive platform for gamers and developers alike.

The surge in interest for BoomLand’s Hunters On-Chain game on Polygon in March led to an all-time high unique active wallet count of around 55,300 on March 9. While it is unclear what specifically drove this surge, anticipation for an in-game NFT sale on March 31 may have contributed to the increased interest.

Overall, the DappRadar report shows that on-chain gaming activity decreased by 3.33% in March to 741,567 daily Unique Active Wallets (dUAW), but games still make up 45.6% of the DApp industry activity in Q1 2023. Polygon has gained bullish momentum in recent months, particularly in the areas of NFTs, gaming, and the Metaverse. The Polygon Labs team has secured partnerships with big-name companies such as Warner Music, Starbucks, Adidas, Reddit, and Adobe to develop and host NFT projects on the platform. This bodes well for Polygon’s future growth and adoption in the gaming and NFT industries.

In addition to the success in gaming and NFTs, Polygon’s team also achieved a significant milestone by launching its open-source Ethereum Virtual Machine equivalent zero-knowledge rollup on March 27. This new technology is expected to enable DApps to scale through transaction batching, increasing performance while reducing gas fees for transactions on the network. This will make it easier and more cost-effective for developers to build and deploy DApps on Polygon, further boosting the platform’s growth and adoption.

The launch of the zero-knowledge rollup represents a significant step forward for Polygon’s technology and demonstrates the team’s commitment to developing innovative solutions that meet the needs of the blockchain industry. As such, it is likely to contribute to the platform’s continued success in the months and years to come.

Frequently Asked Questions On Polygon

What is Polygon?

Polygon (previously known as Matic Network) is a Layer 2 scaling solution for Ethereum. It aims to improve scalability and reduce transaction costs on the Ethereum network by providing faster and cheaper transactions.

What are the benefits of using Polygon?

By using Polygon, users and developers can enjoy faster and cheaper transactions compared to the Ethereum network. It also offers greater scalability and interoperability with other blockchains. Additionally, Polygon supports smart contracts, allowing developers to build decentralized applications (DApps) on the network.

How does Polygon work?

Polygon is a Layer 2 scaling solution that uses a combination of sidechains, plasma chains, and state channels to enable faster and cheaper transactions. It allows developers to build DApps that can interact with the Ethereum network while taking advantage of Polygon’s faster and cheaper transaction speeds.

What are some popular DApps on Polygon?

There are several popular DApps on Polygon, including Aave, QuickSwap, and SushiSwap. The platform has also seen growth in the gaming and NFT sectors, with games like Hunters On-Chain and partnerships with companies like Adidas and Warner Music.

Is Polygon secure?

Polygon uses a Proof of Stake (PoS) consensus mechanism, which is considered to be more secure and energy-efficient than the Proof of Work (PoW) mechanism used by Ethereum. Additionally, Polygon’s architecture is designed to prevent single points of failure, reducing the risk of attacks or hacks.

What is the token used on Polygon?

The native token used on Polygon is called MATIC. It is used to pay for transaction fees on the network, as well as to participate in governance and staking.

How can I get started with Polygon?

To get started with Polygon, you can use a wallet that supports the network, such as Metamask or WalletConnect. You can also explore DApps built on Polygon, such as Aave or QuickSwap, to experience the benefits of faster and cheaper transactions.

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