Ethereum’s Scalable blockchain, Polygon, plans to initiate a hard fork on January 17, 2023. According to the team, the network upgrade should be a success and will help “reduce the intensity of gas spikes” as well as “address network reorganizations”. The chain is hoping to decrease the time to finality with this change.
Polygon Team Shares Plans to Enhance User Experience
On January 12, 2023, The Polygon Team announced that the community should “prepare for the hard fork” and the developers intend to upgrade the chain on January 17, 2023. “This is great news for developers and users and it will improve the user experience (UX). You don’t need to do anything different,” developers said. The Polygon team has been discussing the update since December 2022.
Hard Fork V0.3.1 is designed to reduce gas spikes and address the problem of blockchain reorganizations (reorgs). A reorganization occurs when a new branch of the blockchain is created and replaces the accepted one. Reorganizations can result in transactions that were previously confirmed to be invalidated or replaced by new ones. To handle the reorganization issue, Polygon plans to decrease the sprint time of the network from 64 to 16 blocks. “Doing so will lessen the depth of reorganizations,” the Polygon developers stated.
To reduce gas spikes, Polygon intends to improve the “base rate change denominator” from the current value 8 to 16. This will assist in smoothing out the rate of increase/decrease in the base rate when gas surpasses or falls below the target gas limits in a block, according to the Polygon team’s blog post on the subject.
Polygon’s native token MATIC recently made it to the top ten of crypto assets by market capitalization. MATIC is up 23.4% against the US dollar over the last week. However, Polygon’s current value of $0.987 per unit has dropped 66.2% from its all-time high of 2.92 per unit on December 27, 2021.
What do you think of the proposed upgrade to the Polygon network? Will these changes enhance the user and developer experience on the platform? Please let us know what your thoughts are in the comments section below.
