Ethereum (ETH) scaling solution Polygon (MATIC) processed the highest number of daily transactions in the blockchain’s history last week.
On November 16th, the Polygon blockchain saw 16,449,264 transactions, marking a sudden and massive increase from the average of below three million per day.
In a post on social media platform X, Polygon founder Sandeep Nailwal says the network handled the spike without experiencing any downtime.
“Polygon handled 16+ million transactions, and the network didn’t even blink.
At its peak, PoS (proof of stake) had a throughput of 255 tps (transactions per second) – that’s around two to three times of the entire ETH ecosystem combined. Total transaction fees generated by the validators are around [$1 million] in a single day, though the gas fees spiked to insane levels.
Block rewards totaled more than 155,000 MATIC, around $1.2 million revenue for validators in a single day.”
Nailwal says a new metaverse game called Baby Shark, which is based on the Polygon chain, could be what’s behind the sudden spike in transactions.
“I hear there is some game Baby Shark launching, could that be the reason? Someone told me just now that the minting stopped just now and we might go back to the less crazy levels.”
He also says that efforts to improve Polygon enabled the network to efficiently handle the volume of transactions.
“Polygon PoS chain was able to handle this load as a direct result of Polygon ecosystem engineering contributors and the upgrades to PoS that have been rolled out over the last few months.”
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