The project known as Polygon (MATIC) is getting ready for a new hard fork. This is created to boost performance and scalability. Check out the new reports below.
MATIC gets ready for a hard fork
It’s been just reported that the blockchain scaling solution Polygon (MATIC) is gearing up for a new hard fork. It aims to boost the chain’s performance and make it more efficient.
In a new blog post, the Polygon team says that while the project has achieved many of its targets for scaling the Ethereum (ETH) network, there are more immediate goals that now require the network’s approval before becoming a reality.
The team behind the project notes that the new hard fork boils down to two main points:
- to reduce the severity of gas fee spikes
- to address chain reorganizations (reorgs) in order to decrease time to finality
The team made sure to explain the fact that the reorgs happen “when a validator node receives new information that shows a longer or higher version of the chain.”
This will see the following result: the old chain is discarded to make room for the new one.
The Polygon team also made sure to explain the fact that after the fork, they expect to smooth out the volatile jumps in gas fees currently present on Ethereum.
“The expectation is that the rate of change for the base gas fee will fall to 6.25% (100/16) from the current 12.5% (100/8) in an effort to smooth severe fluctuations in gas prices.”
The same notes revealed the following:
“Although gas will still increase during peak demand, it will be more in line with the way Ethereum gas dynamics work now. The goal is to smooth out spikes and ensure a more seamless experience when interacting with the chain.”
Stay tuned for more relevant news from the crypto space.