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.

Polygon Post Completes Hard Fork Update To Minimize Gas Fee Spikes, On-Chain Reorganizations Appeared First On CryptoSlate.

This post Polygon completes hard fork upgrade to minimize gas rate spikes and on-chain reorganizations

was published first on https://cryptoslate.com/polygon-completes-hard-fork-upgrade-to-minimize-gas-fee-spikes-chain-reorgs/


Write A Comment