Infura’s Graph Shows Tremendous Growth in Polygon

8 months ago
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Infura is a well-known developers service provider for Ethereum based projects and blockchains. The project offers web3 solutions and developing tools for building next-generation applications that could meet the demand for Ethereum products and help with the scalability issues of the blockchain. It is widely preferred by developers for its simplified interface and reliable infrastructure. The scale of Infura’s operation on Ethereum also makes it very reliable, which could signify a project’s growth in the Ethereum ecosystem. 

Recently, Infura released its growth graph for Polygon for January. Polygon PoS users on Infur have tripled in just two quarters. Polygon started on Infura last July with just 2500 developers after its ambitious rebranding in previous months. However, the coin has shown an average month-on-month growth of 26% since last August. More than 7000 Apps are currently using efficient tools of the platform owing to the low-cost, eco-friendly consensus model of Polygon.

The last few months have been vital for Polygon/MATIC, with it gaining ground in the crypto industry. The MATIC coin showed 250% growth in the final quarter of 2021, bringing the coin over $2. According to this popular MATIC price prediction, the coin has the potential for steady growth in the $7 range in the next five years.

Polygon was launched in late 2017 as the Matic Network to address the scalability and cost issues on Ethereum. After nearly five years in operation, the network got a radical makeover, and there were also some changes in the principles of the network. Currently operating by the name Polygon, the network is working towards becoming the internet of blockchain through integrations and partnerships. 

Polygon is used by some big names like AAVE, Dolce and Gabbana, Lazy.com, and NFT marketplaces like Openseas. The DeFi ecosystem of Polygon is also widely preferred by many platforms like Uniswap, which recently announced its decision to introduce the V3 protocol on Polygon.

A look at Infura’s API calls proves that the Polygon ecosystem is rapidly growing. The API calls averaged 55 million for October and November in 2021. In December, the numbers moved to a whopping 114 million, with more teams joining the ecosystem.