Polygon upgrade to address gas-fee spikes and chain reorgs

• Polygon announced that its planned hard fork was successful on Tuesday, January 17, 2023.
• A software upgrade would help address the problem of skyrocketing gas prices and potentially disruptive chain restructuring.
• Polygon is looking at other technical upgrades such as zkEVM and parallelization as the team looks to further improve the network.

Polygon, a Web3 infrastructure platform built on Ethereum, has successfully completed its planned mainnet upgrade. Presentation From the team behind the blockchain project.

Upgrade to improve Polygon performance

The Proof of Stake (PoS) upgrade is a community-approved hard fork in recent votes, the implementation of which aims to curb the surge in gas prices for the Ethereum scaling solution. A hard fork could cause the network to see gas prices spike during periods of peak demand, which more likely reflects Ethereum’s current gas dynamics.

According to the Polygon team, the upgrade will help mitigate spikes in gas prices and allow seamless interaction with the chain.

Software updates are also intended to address chain reorganizations, or “reorganizations”, that can affect transaction finality and disrupt the chain.

Polygon highlighted the above suggestions in their post It was published January 12th.

In addition to the completed hard fork set to increase the performance and predictability of the network, there are still long-term goals aimed at making the blockchain protocol ideal for a growing user community. These include technical upgrades such as: Parallelization When Polygon zkEVM It is working.

Major Web3 projects such as Uniswap and Aave are on the Polygon PoS chain along with thousands of other decentralized applications (dApps). The chain has registered over 207 million unique addresses and processed over 2.3 billion transactions.