Ethereum Scaling Triumph: Polygon Processes Record-Breaking Transactions
Last week, Polygon (MATIC), the Ethereum (ETH) scaling solution, achieved a historic milestone by processing the highest number of daily transactions on its blockchain.
On November 16th, the Polygon blockchain recorded an impressive 16,449,264 transactions, showcasing a significant surge compared to the usual daily average of below three million.
In a recent social media post on platform X, Sandeep Nailwal, the founder of Polygon, expressed his amazement at the network’s ability to handle the sudden spike without any downtime.
“Polygon handled 16+ million transactions, and the network didn’t even blink.”
At its peak, the Proof of Stake (PoS) mechanism demonstrated a throughput of 255 transactions per second (tps), surpassing the entire ETH ecosystem combined by two to three times. Despite the spike in gas fees to extraordinary levels, the total transaction fees generated by validators amounted to [$1 million] in a single day.
Block rewards reached over 155,000 MATIC, resulting in approximately $1.2 million in revenue for validators within a single day.
Nailwal speculated that the sudden surge in transactions might be attributed to a new metaverse game called “Baby Shark,” based on the Polygon chain.
“I hear there is some game Baby Shark launching, could that be the reason? Someone told me just now that the minting stopped just now and we might go back to the less crazy levels.”
Nailwal attributed Polygon’s ability to handle this increased load to the efforts of Polygon’s ecosystem engineering contributors and the recent upgrades to the PoS system implemented over the past few months.
