Polygon primed for hard fork aimed at reducing gas fee spikes: New details revealed

Ethereum Layer 2 scaling solution Polygon performed a hard fork on January 17 to address gas spikes and chain reorganization issues that impacted user experience on Polygon’s Proof of Stake (POS) chain. increase.

polygon formula Verified A blog post written after weeks of preparation for the hard fork event on January 12th discussion on the Polygon Improvement Proposal (PIP) forum page in late December

Get ready for the hard fork

Proposed hard fork #polygon The PoS chain will have a major network upgrade on January 17th.

This is good news for developers and users and leads to a better UX.

You don’t have to do anything else. detail:https://t.co/RaBWDjEGrI pic.twitter.com/nipa15YQdZ

Polygon (@0xPolygon) January 12, 2023

A Polygon spokesperson also provided Cointelegraph with details of the Jan. 14 hard fork.

“A hard fork is coded for blocks >= 38,189,056. No single centralized actor initiates it. Validators in the network update nodes before the specified block I have to, and I’m already doing it.”

Of the 15 voters on the Polygon Governance team, 87% voted in favor of increasing the BaseFeeChangeDenominator function from 8 to 16. Reduce gas price spikes Reduce the SprintLength function from 64 blocks to 16 blocks to fix the chain reorganization issue.

In addressing the problem of gas spikes, the Polygon team increased the denominator from 8 to 16, as base fee prices often “experience exponential spikes” when on-chain activity rapidly increases. He explained that he believes that this will flatten the growth curve. Hence “smooth violent fluctuations” in gas prices.

Related: Polygon test zero-knowledge rollup, mainnet integration inbound

Regarding the chain reorganization problem, Polygon improved transaction finality by shortening the sprint length, allowing a single block producer to continuously block at a frequency of 32 seconds compared to the current 128 seconds. I explained that I would be able to add it to the .

This change does not affect the total time or number of blocks generated by validators, so there is no change in overall rewards, they added.

Chain reorganization occurs when blocks are removed from the blockchain to make room for new, longer chains so that all node operators have the same copy of the ledger.

However, the reorganization must proceed as efficiently as possible. 51% increased risk of attack.

The Polygon team also confirmed that MATIC token holders and delegators do not need to take any action and that their applications will not be affected during the hard fork.

Polygon token price, matic is currently at $0.977, up 13.6% since Polygon announced the news on January 12th.