• Polygon (MATIC) network has announced a hard fork scheduled for January 17, 2021 to reduce the severity of gas spikes and address chain reorganizations (reorgs).
• The Polygon community gave the hard fork proposal in a forum discussion following updates provided by the governance team.
• The changes in BaseFeeChangeDenominator and SprintLength will help smooth out the increase and decrease rate in baseFee when the gas exceeds or falls below the target gas limits in a block.
The Polygon (MATIC) network, an Ethereum scaling solution, is set to undergo a hard fork on January 17, 2021. This hard fork was proposed by the Polygon community following updates provided by the governance team and is designed to reduce the severity of gas spikes and address chain reorganizations (reorgs) in an effort to reduce time to finality.
The Polygon community discussed the hard fork proposal in a forum. At the top of the discussion, the community asked to vote on changes in BaseFeeChangeDenominator and SprintLength. Out of the 15 votes, 87 per cent approved the proposal to decrease SprintLength to 16 blocks from 64 and increase BaseFeeChangeDenominator from 8 to 16. The Polygon governance team noted that this change in BaseFeeChangeDenominator will help smooth out the rate at which baseFee increases and decreases when the gas exceeds or falls below the target gas limits in a block.
The Polygon ecosystem has had tremendous growth over the past year, with over 207 million unique addresses and more than 2.3 billion processed transactions. The hard fork is designed to further improve the performance of the network by reducing the severity of gas spikes and addressing the chain reorganizations (reorgs). This will reduce the time to finality and help the network maintain its impressive growth.
The hard fork is scheduled to take place on January 17, 2021. In the run up to the fork, the Polygon team is preparing by running tests and examining the network performance. They are also seeking feedback from users and encouraging them to participate in the discussion on the hard fork proposal.
The Polygon team is confident that the hard fork will help improve the performance of the network and make it more reliable for users. They are looking forward to the feedback and discussions around the hard fork and are confident that this will result in an even better ecosystem for users.
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