Polygon plans Jan. 17 hard fork to reduce gas fees

Hull Invest

Ethereum (ETH) Layer 2 Network Polygon (MATIC) Proposed Hard Fork on Jan 17th, Declaring Gas Spikes and Addressing Chain Reorganization by Changing BaseFeeChangeDenominator on Jan 12th I was. statement.

Reduction of polygon gas spikes

Polygon boasts better scalability and cheaper fees than Ethereum, but is immune to gas spikes during network congestion.

The hard fork proposal is designed to reduce these gas spikes by changing the BaseFeeChangeDenominator from 8 to 16 and lowering the base gas fee from 12.5% ​​to 6.25%.

This design smooths the rate at which the base price increases or decreases when the gas price is higher or lower than the block’s target gas limit.

Polygon added that gas prices will rise further during times of peak demand. However, it aligns with how Ethereum’s gas dynamics work.

“The goal is to smooth out the spikes and ensure a more seamless experience when interacting with the chain.”

chain reorganization

The hard fork also fixes chain reorganization (reorganization) by reducing the sprint length from 64 blocks to 16 blocks.

This does not affect transaction time, but is expected to reduce the depth and frequency of reorganizations and improve transaction finality.

A hard fork will not affect how users interact with Polygon or its decentralized applications. Node operators have until January 17th to upgrade their nodes.

Polygon has experienced significant growth over the past year, attracting several brands and projects to its network. Apart from these short-term technical upgrades, Layer 2 networks are also working on long-term upgrades such as parallelization.

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