Polygon (MATIC) Achieves Record-Breaking TPS, Sandeep Nailwal Says


18 Nov 2023 5:56 PM

Polygon's proof-of-stake (PoS) network processed almost 16.5 million transactions in 24 hours, here's what caused eye-watering spike...

  • The Polygon (MATIC) blockchain experienced a surge in transactional activity, processing over 16.4 million transactions on November 16, 2023.
  • Despite the increased pressure, the network performed well without any outages or collapses.
  • The throughput of Polygon's PoS reached 255 transactions per second, which is significantly higher than the entire Ethereum ecosystem.
  • The total transaction fees generated by Polygon PoS validators exceeded $1 million due to high gas prices.
  • This surge in activity set a new record for Polygon, surpassing the previous peak in June 2021.
  • The stability of the network was attributed to recent advances and upgrades in Polygon's ecosystem engineering.
  • Users started minting PRC-20 tokens inspired by Bitcoin's Ordinals, leading to a spike in average transaction fees on Polygon PoS.

The article highlights the positive performance of the Polygon (MATIC) blockchain, with the network handling a significant increase in transactions without issues. The co-founder, Sandeep Nailwal, expresses excitement about the achievement. However, the spike in transaction fees is mentioned as a result of high gas prices, which may be seen as a negative aspect.

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You May Ask

How many transactions did the Polygon (MATIC) blockchain process on November 16, 2023?What was the throughput of Polygon's PoS at its peak?How does the throughput of Polygon compare to that of the entire Ethereum ecosystem?What contributed to the stability of the Polygon network during the surge in activity?What caused the spike in average transaction fees on Polygon PoS?

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