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Polygon Taking Action to Address Reorgs & Gas Spike

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Pavan A Follow

INDIA

Jan, 16 2023

Jan, 16 2023

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Polygon is moving forward with plans to hard fork the network early next week following a contentious community debate last month, according to its website. 

 

According to a recent blog post from Polygon Labs, the upcoming hard fork will aim to address issues with chain reorganizations (reorgs) and gas fee spikes. The hard fork will adjust the BaseFeeChangeDenominator from 8 to 16, which will make it easier to adjust the basefee rate when gas usage exceeds or falls below target limits in a block.

 

“Although gas will still increase during peak demand, it will be more in line with the way Ethereum gas dynamics work now,” Polygon told CoinDesk. “The goal is to smooth out spikes and ensure a more seamless experience when interacting with the chain.” 

 

Polygon, an Ethereum sidechain, operates on a proof-of-stake mechanism that allows for lower gas fees compared to the Ethereum mainnet, but it's not immune to traffic spikes, which can cause delays. 

 

The upcoming hard fork upgrade aims to address chain reorganizations, which have been a significant issue, according to Polygon. An attack or network error can cause a chain reorganization, resulting in the blockchain splitting in half. As a result, transactions may be lost or duplicated and cause further disruption on the network. The hard fork upgrade attempts to minimize this problem. 

 

Mateusz Rzeszowski, a Polygon governance facilitator has proposed a solution to address the issue of reorgs on the network. "One of the ways identified to mitigate the issue is to reduce the sprint length from the current 64 blocks to 16 blocks," he stated. This change would reduce reorgs on the network by shortening transaction confirmation times. 

 

MATIC, the native token of Polygon, has recently risen in market capitalization to become one of the top ten crypto assets. Over the past week, MATIC has seen a significant rise of 23.4% against the U.S. dollar. The token is currently valued at $0.987 per unit. 

 


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Pavan A

CBW - External Analyst

INDIA

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