Polygon announced the completion of its proof-of-stake hard fork upgrade in an attempt to reduce gas spikes and chain reorganizations (reorganizations) on January 17.
Source: Polygon Twitter
The two proposals included in the hard fork were presented last December. About 87% of Polygon’s validation teams voted for approval.
The hard fork proposal aims to reduce gas spikes by lowering the BaseFeeChangeDenominator from 8 to 16, according to a Jan. 12 statement. Although gas fees will continue to rise during demand spikes, they will be in line with Ethereum gas dynamics.
Furthermore, the second approach reduces the time it takes to complete a block of data, which avoids frequent reorganizations of the chain. Frequent reorganizations occur when a validation node receives information that creates a temporary version of the blockchain.
In the past year, Polygon has experienced significant growth and adoption due to multiple collaborations and a record number of transactions. At the time of publication, Polygon’s MATIC It is trading at $1.013, compared to $0.8473 a week ago.
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