Polygon Handled Over 16,000,000 Transactions in Single Day and ‘Didn’t Even Blink,’ Says Founder Sandeep Nailwal - The Daily Hodl

The Daily Hodl
The Daily Hodl

20 Nov 2023 7:45 PM

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.

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How many transactions did the Polygon blockchain process on November 16th?What is the throughput of the proof of stake (PoS) on the Polygon network?How much revenue did validators generate in a single day?What could be the reason behind the sudden spike in transactions on Polygon?What factors contributed to Polygon's ability to handle the increased transaction volume?

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