This is what Polygon's network stats look like
A new analysis on the net Polygon suggests that most transactions on this platform don't move as much money. The Twitter account "sanket" posted a tweet about the percentage of transaction values in Polygon.
It says that about half of the transactions on this network are transferring less than $ 1.45. But after a while the tweet was edited with a reply from the same account saying that the data is about addresses, not transactions, anyway, it shows that a lot of microtransactions are being managed on Polygon which may even be good news for attract users looking for lower gas rates.
Polygon helps microtransactions
Polygon is one of the most successful layer two solutions for Ethereum. The network is designed to solve the scaling and transaction fees of this blockchain. Many Ethereum projects have decided to launch a version of Polygon recently, and many more are considering this network to launch their projects. Lower transaction fees are among Polygon's top benefits over Ethereum. The latest analysis states that many transactions are made with a very low value on this network.
According to a tweet from «sanket«, The network level statistics on Polygon are:
«~ 45% of all transactions are transferring less than $ 1.45 – ~ 65% of all transactions are transferring less than $ 100 USD – ~ 85% of all transactions are transferring less than $ 1000 – the main transaction is moved ~ $ 142 million.
As mentioned above, «sanket» edited this tweet, saying that the statistics are about addresses and not transactions on this network. The answer says:
Correction: these are actually addresses, not transactions. For example: ~ 45% of all addresses, in all their transactions that day, were less than $ 1.45.
Regardless of the edition, the data shows that the money stored and made within the Polygon network is not considerable between addresses. It shows that many people are using Polygon for microtransactions. It is not bad news for the network and can be considered a successful attraction for faster and cheaper transactions in the blockchain industry.
One of the responses to this tweet notes that the lower transaction fee is a very cool feature. He says that all of these transactions were handled for a fraction of a penny, which is very good news for the industry. He says, finally, that there is a solution that helps us move coins without worrying about paying high gas rates.
Many people believe that high gas fees and network speed are the biggest problems Ethereum faces today. They say that even Ethereum 2.0 cannot help solve these challenges. Perhaps solutions like Polygon with lower gas rates and better scaling options can change the market trend.