Polygon Closes In on Ethereum’s User Growth in 2023, Nearly Tying at 15.24M

Polygon nearly matches Ethereum’s 2023 user growth, reaching 15.24 million users.
Despite Ethereum’s lead, Polygon’s 15.24 million users signal substantial growth.
Flipside data reveals Polygon’s competitive rise in blockchain user acquisition.

In a surprising turn of events, Polygon, the Layer-2 scaling network, came remarkably close to Ethereum’s user acquisition numbers in 2023. According to blockchain analytics firm Flipside, both Ethereum and Polygon surpassed Bitcoin, attracting over 15 million users each, while Bitcoin lagged with 10.65 million users.

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Despite being a Layer-2 solution, Polygon reported an impressive 15.24 million users in 2023, just a hair behind Ethereum’s 15.4 million. The term ‘acquired’ denotes users who engaged in at least two transactions on a specific blockchain, with at least one transaction occurring in 2023, as per Flipside’s criteria.

This revelation underscores Polygon’s substantial growth and rising prominence in the blockchain space. As a Layer-2 scaling solution for Ethereum, Polygon has gained traction for its ability to enhance scalability and reduce transaction costs.

While Ethereum remains a leading blockchain platform, Polygon’s performance suggests that Layer-2 solutions are becoming increasingly vital in addressing the challenges related to scalability and transaction efficiency. The close competition between Polygon and Ethereum indicates a potential shift in user preferences towards networks that offer efficient and cost-effective solutions.

As the blockchain landscape continues to evolve, the competition for user adoption intensifies. The near-equivalent user acquisition numbers between Polygon and Ethereum highlight the dynamic nature of the crypto space and the emergence of innovative solutions to address the industry’s ongoing challenges.

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Lauren Cole

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.