- Solana was thought of as the second most utilized platform for the smart contracts, but the regular active user data discloses something else.
- Polygon had a growth of over 2x, while Solana saw a growth of over 4.9x, more than double that of Polygon, in the previous year.
- As of this writing, Polygon’s Matic had a market capitalization of $15.2 Billion, and was bullish at the price of $2.13, which is up by 4.34% in 24 hours.
How crucial the part of heavyweight marketing has in a decentralized system of crypto, as per the co-founder of Polygon, Sandeep Nailwal, it might be a plenty.
Is Matic Looking for Heat?
Spencer Noon, an analyst for crypto, suggested back in December that many Web3 fanatics may see Solana as the No.2 platform in terms of utilization of smart contracts, the data associated with the regular active users has some other story to tell. It was revealed that the second most utilized smart contract platform was Polygon.
A response was made by the Polygon co founder to the tweet of Spencer Noon on 9th January, where he stated that, it was felt by him that the idea of Solana having a more traction grip than Polygon, is mainstream among the fresh entrants of Web3, as they are impacted by amazing institutional marketing of the United States.
It is noteworthy that the Polygon is majorly based in India, HQ of Solana is reportedly situated in the United States.
In the tweet, Sandeep Nailwal also made an addition of devs besides the user count given by Spencer Noon. He mentioned that, as compared to the Solana Network, which has a team of 200 to 300 devs, polygon has a team of 2000 to 3000 devs, which is ten times more than the Solana network.
The Polygon co-founder also responded to a user claiming that the metrics are calculated in a different manner in Solana Network.
This is a considerable issue, especially when the way a wallet or network quantifies its activity immensely influences the perspective of individuals. In fact, when metrics of Phantom, Solana’s wallet were released in 2021, bragging about having over 1.8 million monthly users, Laura Shin, a journalist ensured that they are actually talking about active users and not active user addresses.
Moreover, Sandeep Nailwal also responded to a user, claiming the active users of Solana were bots.
Intriguingly, as per a report by a utility cooperative, Electric Capital, Polygoon as well as Solana are amongst the heavyweights of the industry. It was found in the report, Cardano, Polygon, Tezos, Avalanche, NEAR, BSC, Solana, Cosmos, Polkadot, Bitcoin, Ethereum are among the biggest ecosystems each having over 250 monthly active devs.
On the contrary, it was observed by the report that the Solana ecosystem saw a growth of 4.9X, which is more than double in comparison to Polygon, which grew by 2X.
As of this writing, Polygon was up by 4.34%, with the trending market price of $2.13.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.