Polygon Handled Over 16,000,000 Transactions in Single Day and ‘Didn’t Even Blink,’ Says Founder Sandeep Nailwal - The Daily Hodl
Ethereum (ETH) scaling solution Polygon (MATIC) processed the highest number of daily transactions in the blockchain’s history last week. ...
- Polygon (MATIC), an Ethereum scaling solution, processed a record-breaking number of daily transactions last week.
- On November 16th, the Polygon blockchain saw 16,449,264 transactions, a significant increase from the average of below three million per day.
- The network handled the spike without any downtime, according to Polygon founder Sandeep Nailwal.
- The throughput of the proof of stake (PoS) reached 255 transactions per second (tps), two to three times the entire ETH ecosystem combined.
- Validators generated around $1 million in transaction fees in a single day, despite gas fees reaching high levels.
- The sudden spike in transactions may be attributed to a new metaverse game called Baby Shark, which is based on the Polygon chain.
- Nailwal credits the efficient handling of the transaction volume to the efforts made to improve Polygon and the upgrades to PoS.
The article highlights the success of Polygon in processing a high number of daily transactions, showcasing its scalability and efficiency. The sentiment is positive.