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- Affordable rates on Polygon remained consistent even amid high network activity.
- The fees between the two networks – Ethereum and Polygon – showed a significant difference in April.
Ethereum users have historically faced elevated gas fees due to the network’s high demand, which leads to increased costs during peak times. However, Polygon network users may have found some respite in April. Data indicates that Polygon’s daily average gas fees were seven times lower than those on the Ethereum Mainnet.
Average Daily Gas Fees on Polygon Mainnet: Polygonsscan
The notable price difference is likely attributed to Polygon’s structural design. As a layer-two scaling solution built on the Ethereum network, Polygon enables users to enjoy fast and cost-effective transactions. Its Proof-of-Stake (PoS) consensus mechanism helps maintain low costs, as block producers receive smaller fees compared to the larger rewards available on Ethereum Mainnet.
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Polygon Surges Over 300% in April
Despite the differences in network design, Polygon has seen remarkable growth recently. In fact, during April, several key metrics experienced increases exceeding 300%. One of these metrics was the number of daily active users on the network. Throughout the month, Polygon recorded an average of 75,000 daily active users, reflecting a significant uptick in activity. This marks a 330% increase from March, highlighting the network’s growing appeal.
The volume of network transactions also saw a substantial rise. From just 1.5 million in March, Polygon processed an average of 6.5 million transactions daily in April. This impressive 333% increase in transaction volume indicates that users are increasingly opting for Polygon as a viable alternative to Ethereum.
Additionally, the total value locked (TVL) on the Polygon network saw a notable increase. The TVL reached a record high of $10 billion in April, representing a 306% rise compared to the previous month. All these metrics suggest a growing interest in Polygon and its ability to provide users with fast and affordable transactions. As Ethereum continues to grapple with high gas fees, more users are likely to consider Polygon as a practical alternative. With such strong growth indicators, it is clear that Polygon is a network worth monitoring in the coming months.
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