Ethereum’s scalable blockchain Polygon has revealed plans to initiate a hard fork on January 17, 2023. According to the team, the network upgrade will “reduce the severity of gas spikes” and “address network reorganizations.” the chain (reorgs) in an effort to reduce the time to finality.”
Polygon team outlines network updates to improve user experience
On January 12, 2023, the Polygon team saying to the community to “prepare for the hard fork” as the developers have plans to update the chain on January 17, 2023. “The proposed hard fork for the Polygon PoS chain will bring key updates to the network on January 17,” he tweeted the team. “This is good news for developers and users and it will improve the user experience (UX). You won’t need to do anything different,” the developers insisted. The developers of Polygon (MATIC) have been what is discussed the update from December 2022.
He Hard Fork V0.3.1 aims to reduce gas spikes and address blockchain reorganizations (reorgs). A reorganization is an occurrence in which a new branch of the chain arises and replaces the previously accepted branch of the blockchain. Reorganizations may cause previously confirmed transactions to be invalidated and replaced with new ones. To alleviate the reorganization problem, Polygon plans to reduce the duration of the network’s sprint from 64 to 16 blocks. “Doing so will decrease the depth of reorganizations,” the Polygon developers state.
To reduce gas spikes, Polygon aims to change the “base rate change denominator” from the current value of 8 to 16. “This will help smooth out the rate of increase/decrease in base rate when gas exceeds or falls below the target gas limits in a block,” according to the Polygon team’s blog post on the subject.
Polygon native token, MATIC, has recently entered the top ten in terms of crypto assets ranked by market capitalization. MATIC is up 23.4% over the past week against the US dollar. However, Polygon’s current value of $0.987 per unit 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 upgrade to the Polygon network? Will these changes improve your overall user or developer experience on the platform? Let us know your thoughts in the comments section below.
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