Polygon (MATIC) Hard Fork Scheduled for Jan 17th to Improve Performance & Reduce Gas Spikes

• The Polygon (MATIC) network is planning a hard fork scheduled for January 17 to improve performance and reduce gas spikes and chain reorganizations.
• The Polygon community voted to decrease SprintLength to 16 blocks from 64 and increase BaseFeeChangeDenominator from 8 to 16.
• The hard fork is intended to reduce the time to finality and address the current Polygon impasse.

The Polygon (MATIC) network, an Ethereum scaling solution, is planning a hard fork scheduled for January 17th to improve performance and reduce gas spikes and chain reorganizations. This hard fork is intended to reduce the time to finality and address the current Polygon impasse.

The Polygon ecosystem has grown exponentially in the past year, with over 207 million unique addresses and more than 2.3 billion processed transactions. However, the network has been facing issues such as gas spikes and chain reorganizations, which have caused delays in transaction confirmations and reduced the throughput of the network.

In order to address this issue, the Polygon community initiated a forum discussion and proposed a hard fork. The community asked for a vote on changes in BaseFeeChangeDenominator and SprintLength. After 15 votes, 87 per cent agreed that decreasing SprintLength to 16 blocks from 64 and increasing BaseFeeChangeDenominator from 8 to 16 will help address the current Polygon impasse.

The Polygon governance team has stated that increasing BaseFeeChangeDenominator from 8 to 16 will help smooth out the increase and decrease rate in baseFee when the gas exceeds or falls below the target gas limits in a block. The hard fork is expected to reduce the severity of gas spikes and address chain reorganizations, while also improving the performance of the network.

The Polygon community is hopeful that the hard fork will help to improve the performance of the network and ensure that the network remains secure and reliable. The hard fork is scheduled to take place on January 17th and the team is confident that it will be a success. The MATIC price has also responded positively to the hard fork news, rising 3% since the announcement.

The Polygon team is committed to ensuring the security and reliability of its network and is confident that the hard fork will help to improve performance and reduce time to finality. The team is also looking forward to the hard fork and believes it will be a crucial step in achieving the network’s full potential.

admin

http:

View more posts from this author