![]() “ In general, account-related metrics increased during the third quarter with active addresses setting an all-time-high of 6 million, new addresses spiking 180% QoQ, total unique addresses surpassing 170 million, and total transactions surpassing 2 billion. ![]() The Polygon treasury ended the quarter with 2.4 billion MATIC ($1.8 billion). Polygon average transaction fees were $0.09, so revenue is not expected to be significant. During Q3, revenue was $4.2 million, a 26% QoQ decline driven by a 10% decline in transactions and 51% decline in transaction fees. “ Polygon’s financial and network activity reflects Polygon PoS activity. During Q3, Polygon saw network-wide activity increase, continued its aggressive business development strategy with new partnerships with distinguished companies, and progressed on its ZK-scaling efforts with the unveiling of Polygon zkEVM. “ Despite the ongoing bear market, Polygon continues to build at a heightened pace. In a Messari research report titled “State of Polygon Q3 2022”, Garcia and Sheehan said: This also means that Polygon is paying Ethereum to use its blockspace (in ETH) & paying for it to secure the contracts & checkpointing.“ “ This has 2 benefits: it provides Ethereum-based finality to the PoS chain & it can help the chain recover in case of catastrophic event.Secondly, the PoS chain actually commits/checkpoints itself to Ethereum every so often.“ “ This means that if the Ethereum network went offline, the Polygon PoS chain would also go offline.It relies on Ethereum because all of the validator/staking logic for the PoS chain lives as a smart contract on Ethereum.“ “ The PoS chain goes beyond a standard sidechain and actually relies on and commits itself to Ethereum (what some people may call a ‘commit-chain’).“ The PoS chain is what people refer to as a ‘sidechain’ to Ethereum because it has its own permissionless validator set (100+ who are staking MATIC) which means it doesn’t use Ethereum’s security (aka Ethereum’s PoW).“. ![]() The vast majority of the activity is happening on the PoS chain.“
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