Polygon Gas Fees is 7x Cheaper Than Ethereum
- Low prices on Polygon held steady even when there was a lot of network traffic.
- The two networks’ – Ethereum’s and Polygon’s – fees differed noticeably in April.
Users of Ethereum have long had to deal with high gas prices because of the network’s popularity, which causes fees to increase during busy periods. Users of the Polygon network may have discovered some relief in April, though. Data shows that compared to Ethereum Mainnet, Polygon’s daily average gas rates were seven times less expensive.
The striking price disparity is probably a result of Polygon’s architectural design. Polygon is a layer-two scaling solution built on top of the Ethereum network, allowing it to provide customers with quick, affordable transactions. Costs are kept low via its Proof-of-Stake (PoS) consensus method since block creators are rewarded with tiny fees rather than the bigger incentives provided on Ethereum Mainnet.
Polygon Soar Over 300% in April
Despite the variations in network architecture, Polygon has experienced significant growth recently. In fact, in just April, a few important indicators saw an increase of over 300%. The number of daily active network users was one of these measures. During the month, an average of 75,000 daily active users were registered on Polygon, which experienced a sharp surge in activity. This is a 330% rise over March, demonstrating the network’s rising popularity.
The number of network transactions executed was another statistic that increased significantly. From just 1.5 million in March, Polygon executed an average of 6.5 million transactions daily in April. This astronomical 333% growth in transaction volume demonstrates that people are choosing Polygon as a strong Ethereum substitute.
On the Polygon network, the total value locked (TVL) also experienced a significant rise. The TVL reached an all-time high of $10 billion in April, an increase of 306% over the previous month. All of these indicators lead to rising interest in Polygon and its capacity to offer customers quick, affordable transactions. More users will probably look to Polygon as a workable substitute while Ethereum continues to struggle with excessive gas fees. With such excellent growth indicators, it is obvious that Polygon is a network to keep an eye on in the upcoming months.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
