Polygon is the second most searched for Proof-of-Stake (PoS) cryptocurrency in the U.S. after Ethereum. This was revealed in a study conducted by TheMoneyMongers, which analyzed Google Trends data for the past 90 days.
Polygon and the Proof-of-State ranking of cryptocurrencies most searched for in the U.S.
A study by TheMoneyMongers found that Polygon (MATIC) captured the interest of Americans, becoming the second most searched for Proof-of-Stake cryptocurrency on Google.
In fact, analyzing Google Trends over the last 90 days for the top 5 PoS cryptocurrencies, Polygon is second only to Ethereum, which recently switched to this consensus mechanism.
Specifically, 18 U.S. states, or 35.3%, are interested in Polygon, which has quickly become a competitor to Ethereum due to its superior blockchain scaling capabilities.
As for Ethereum, 54.9%, or as many as 28 U.S. states, are interested in the search engine giant, according to the study.
Next are the other cryptocurrencies, also chosen based on their market capitalization and precisely because they are Proof-of-Stake - Cardano, Solana and Polkadot.
Accordingly, the study says Cardano is in demand in 7.8 percent, meaning four U.S. states, Solana in only one state, and Polkadot in scattered numbers.
Cardano is believed to be of interest to residents of Delaware, the District of Columbia, Rhode Island and South Dakota. Solana is of great interest to Maine residents, and Polkadot, on the other hand, has some interest from Tennessee, Connecticut, Massachusetts and Wisconsin.
Polygon is the second largest PoS cryptocurrency after Ethereum
Apparently, Polygon has not yet managed to surpass Ethereum not only in market capitalization, price, but also in the number of searches on Google in the United States.
The fact is that while Polygon started out as a Proof-of-Stake cryptocurrency, Ethereum became one after the latest fork of The Merge, complete with the latest network update called Shanghai/Capella (or also Shapella).
Indeed, Ethereum is officially saying goodbye to mining, implementing Ethereum Improvement Proposal (EIP) 4895 and allowing validators and users to withdraw their ETH put on the network.
Allowing withdrawals, which occurred a few days ago, completed Ethereum's transition from a Proof-of-Work consensus mechanism to a more "sustainable" Proof-of-Stake.
In a related development, Sudhir Khatwani, co-founder of TheMoneyMongers.com, commented on the results:
"After the Shanghai update, Ethereum became the most popular cryptocurrency with Proof Of Stake, as users who previously staked 32 ETH can remove the commitment and withdraw their Ethers, as staking and staking is a key part of the Proof of Stake consensus mechanism."
Despite these Ethereum moves, a study by TheMoneyMonger says Polygon remains the most attractive PoS cryptocurrency in the following states: Alabama, Indiana, Kansas, Kentucky, Louisiana, Minnesota, Nebraska, New Mexico, North Carolina, Ohio, Oklahoma, Tennessee, Texas, Utah, Virginia, West Virginia, Wisconsin and Wyoming.