Polygon, Ethereum’s scaling blockchain, has revealed plans to launch a hard fork on January 17, 2023. According to the team, the network upgrade will “reduce the severity of gas spikes” and “reorganize (reorg) the address chain to reduce the final time.”
Polygon Team Outlines Network Upgrades to Improve User Experience
January 12, 2023 The Polygon teamtold thecommunity to “prepare for a hard fork” as developers have plans to upgrade the chain on January 17, 2023.” The proposed hard fork of the Polygon PoS chain will make a major upgrade to the network on January 17.” The team tweeted.” This is good news for developers and users, and will enable a better user experience (UX). There is no need to do anything differently,” the developers insist. Polygon (MATIC) developers have been discussingthe upgrade since December 2022
The aim is to reduce gas spikes and accommodate blockchain reorganization (reorg). A reorg is an event in which a new branch of the chain emerges and replaces a previously accepted branch of the blockchain. Reorganization can result in previously verified transactions becoming invalid and being replaced by new transactions. To mitigate the reorg problem, Polygon plans to reduce the network sprint length from 64 blocks to 16 blocks. Polygon’s developers declare, “By doing so, we can reduce the depth of reorg.”
To reduce gas spikes, Polygon aims to change the “basefeechangedenominator” from its current value of 8 to 16.” This will help smooth out the rate of increase or decrease in basefee when gas is above or below the target gas limit in a block.” According to the Polygon team’s blog post on this subject.
Polygon’s native token,which MATICrecently entered the top 10 in terms of crypto assets ranked by market capitalization; MATIC is up 23.4% against the U.S. dollar in the last week. Polygon’s current value of $0.987 per unit, however, is down 66.2% from the digital asset’s all-time high of $2.92 per unit on December 27, 2021.
What do you think about the proposed upgrades to the Polygon network? Do these changes improve your overall experience as a user or developer on the platform? Let us know your thoughts in the comments section below.
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