Polygon announces impending hard fork to tackle gas tips and chain restructuring - blockchain

The scaling blockchain from Ethereum, polygon, announced plans to initiate a hard fork on January 17, 2023. According to the team, the network upgrade will "reduce the severity of gas tips" and "address chain residents (reorgs) in the effort to shorten the time until the final."

The polygon team outlines network upgrades to improve the user experience

on January 12, 2023, the polygon team told the community to "prepare for the Hard Fork" because the developers have plans to update the chain on January 17, 2023. "These are good news for developers and users and will lead to better user experience (UX). They don't have to do anything else," emphasized the developers. Polygon (Matic) developers were Discuss the upgrade since Dec. 2022.

The v0.3.1 Hardfork aims to reduce and spitzen (Reorgs). A reorg is an event in which the branch of a new chain is created and replaces the previously accepted blockchain branch. Reorganizations can cause previously confirmed transactions to be invalid and replaced by new ones. To solve the reorg problem, polygon plans to reduce the sprint length of the network from 64 to 16 blocks. "This reduces the depth of the Reorgs," explain polygon developers.

In order to reduce gas tips, polygon aims to change the "BasefeChangenominomin" from the current value from 8 to 16. "This will help compensate for the increase/reduction rate of the BASEFEE if the gas exceeds or falls below the target gas limits," says the blog post of the polygon team on this topic.

The native token of polygon, Matik recently entered the top ten ranking in relation to market capitalization. Matetic has increased by 23.4 % compared to the US dollar last week. However, polygons current value of $ 0.987 per unit has dropped by 66.2 % since the all -time high of the digital asset of $ 2.92 per unit on December 27, 2021.

What do you think of the proposed upgrade of the polygon network? Will these changes improve your overall experience as a user or developer on the platform? Share your thoughts in the comment area below.

Jamie Redman

Jamie Redman is the news manager at Bitcoin.com News and a Journalist for Financial Technology living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com news about the disruptive protocols that arise today.

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