Polygon, an Ethereum scaling blockchain, has revealed plans to launch a hard fork on January 17, 2023. Reduce time to final decision. “
Polygon team outlines network upgrades to improve user experience
Jan 12, 2023, Polygon team Said The community should “prepare for a hard fork” as the developers plan to upgrade the chain on January 17, 2023. The team tweeted. “This is good news for developers and users, it improves the user experience (UX). You don’t have to do anything else,” the developer claimed. Polygon (MATIC) developers have been talking about an upgrade since December 2022.
The V0.3.1 hard fork aims to reduce gas spikes and deal with blockchain reorgs. A reorganization is the emergence of a new chain branch to replace a previously approved blockchain branch. A reorganization may invalidate a previously confirmed transaction and replace it with a new transaction. To alleviate the reorganization problem, Polygon plans to reduce the network sprint length from 64 blocks to 16 blocks. “Doing so reduces the depth of reorganization,” he declares the Polygon developer.
To reduce gas spikes, Polygon aims to change the “basefeechangedenominator” from its current value of 8 to 16. According to his Polygon team blog post on the subject:
MATIC, Polygon’s native token, recently entered the top 10 in terms of crypto assets ranked by market capitalization. MATIC gained 23.4% last week against the US dollar. However, Polygon’s current value of $0.987 per unit is down 66.2% from the all-time high of $2.92 per unit for digital assets on December 27, 2021.
What do you think of the proposed upgrades to the Polygon network? Will these changes improve your overall experience as a user or developer of the platform? Let us know your thoughts in the comments section below.
image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. This is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. NEITHER THE COMPANY NOR THE AUTHOR WILL BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS ARISING OR ALLEGED TO OCCUR ARISING OUT OF OR RELATING TO YOUR USE OF OR RELIANCE ON ANY CONTENT, PRODUCTS, OR SERVICES DESCRIBED IN THIS ARTICLE. We are not responsible.