Messari Researcher Outlines Polygon’s Growth Path

Tom Dunleavy – Senior Research Analyst at Messari – thinks there is a bright future for the blockchain platform Polygon.

It has shown significant growth over the past few years, increasing the number of its developers and attracting some major institutions. 

• Dunleavy took it to Twitter to lay out the most notable recent achievements of the layer 2 blockchain platform. He mentioned the active addresses, whose number has surged by 90% quarter over quarter (QoQ), and added that approximately 90% of the distribution of Polygon’s native token – MATIC – is unlocked.
• The protocol is also testing its zkEVM (zero-knowledge Ethereum Virtual Machine). The scaling solution aims to solve the blockchain trilemma – decentralization, scalability, and security – and the entity believes it could be vital for the development of the Web3 sector.

“To onboard the first billions of people to Web3, blockchain architecture must be able to scale without sacrificing security. Until now, that has not been practically possible, and developers and users have had to choose between the two.

Polygon zkEVM is a breakthrough technology that offers both scaling and high security, thus opening a new chapter of mass adoption,” Polygon’s Co-Founder Mihailo Bjelic said last summer.

• Dunleavy believes the presence of Decentralized Social (DeSo) platforms is another factor that could foster future growth. The technology combines social media and cryptocurrencies and enables users to control and gain ownership over their content. 
• Messari’s analyst said Polygon has already impressed some leading institutions, with Starbucks being one example. The American multinational chain of coffeehouses introduced its Starbucks Odyssey program based on Polygon and released NFTs that relate to real-world experiences. Initially, the offering was available only to US beta testers.
• Dunleavy also noted that the number of developers on Polygon has soared from 200 in 2018 to over 1,000 as of now, which suggests that the network continues to evolve and attract more attention from users as well as devs.