According to Sandeep Nailwal, Polygon (MATIC) has achieved an unprecedented level of transactions per second (TPS)

Ramona Galas
12 Dec 2023
Polygon (MATIC) blockchain experiences record-breaking performance with 500% more transactions than average and peak throughput of 255 transactions per second due to new PRC-20 tokens, generating over $1 million in transaction fees.

The introduction of a new type of tokens on the Polygon (MATIC) blockchain caused a surge in transactional activity, resulting in a record-breaking performance by the network.

Co-founder Sandeep Nailwal expressed his excitement as Polygon PoS managed to handle 500% more transactions than average without any outages or collapses.

On November 16, 2023, Polygon Network processed over 16.4 million transactions, with a peak throughput of 255 transactions per second, which is 100-200% higher than that of the entire Ethereum ecosystem. The total transaction fees generated by the Polygon PoS validators exceeded $1 million due to exorbitant gas prices. This surge in activity allowed the number of transactions to spike 70% higher compared to the previous peak, with Polygon processing 2.5-2.7 million transactions per day.

The stability of the network was attributed to the advances deployed in recent months, including upgrades to PoS and contributions from the Polygon ecosystem engineering contributors.

The introduction of PRC-20 tokens inspired by Bitcoin's Ordinals caused average transaction fees on Polygon PoS to jump to 7,000 Gwei, which is 70x higher compared to normal levels.

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