The euphoria round a brand new sort of tokens on the Polygon (MATIC) blockchain resulted in an unmatched transactional exercise spike. Polygon PoS managed to deal with 500% extra transactions than common with out outages and collapses, its co-founder says.
Polygon surprisingly units new report, co-founder Sandeep Nailwal excited
On Nov. 16, 2023, Polygon Community (MATIC), the most important L2 EVM blockchain, processed over 16.4 million transactions. Regardless of the elevated transactional strain, the community carried out as supposed, co-founder Sandeep Nailwal said on X.
Yesterday, @0xPolygon PoS dealt with 16+ million transactions, and the community didn’t even blink.
At its peak, PoS had a throughput of 255 tps— thats round 2-3 instances of the complete Eth ecosystem mixed. Whole transaction charges generated by the Validators is round 1mn in a single… pic.twitter.com/WEvuADktrf
— Sandeep Nailwal | sandeep. polygon 💜 (@sandeepnailwal) November 17, 2023
At its peak, Polygon (MATIC) registered a throughput of 255 transactions per second. Nailwal confused that that is roughly 100-200% larger than that of the complete Ethereum (ETH) ecosystem.
Whole transaction charges generated by the Polygon PoS validators exceeded $1 million in equal on account of exorbitant fuel costs.
As per the PolygonScan explorer, Nov. 16, 2023 was a record-breaking session for the complete Polygon (MATIC) historical past. The earlier excessive within the variety of transactions was registered in June 2021, with over 9.7 million tx/day.
As such, the continuing surge of exercise allowed this metric to spike 70% larger in comparison with the earlier peak. In 2023, Polygon (MATIC) processed 2.5-2.7 million transactions per day.
Polygon’s Ordinals mania permits validators to make $1 million per day
Nailwal attributed the soundness of the Polygon (MATIC) community amid the stress-tests of November to the advances deployed in latest months:
Polygon PoS chain was capable of deal with this load as a direct results of Polygon ecosystem engineering contributors and the upgrades to PoS which were rolled out over the previous couple of months
In mid-November, customers of Polygon (MATIC) began minting PRC-20 tokens impressed by Bitcoin’s Ordinals. In contrast to common ERC-20 tokens, these property are created by altering transactional calldata.
Two days in the past, Polygon (MATIC) fanatics began minting a PRC-20 token referred to as POLS (to not be confused with Polkastarter’s POLS or a novel Polygon asset POL).
Consequently, common transaction charges on Polygon PoS jumped to 7,000 Gwei, which is 70x larger in comparison with regular ranges.
