Polygon Propose A Hardfork To Enhance Chain Performance
On January 17, 2023, Polygon, a leading Ethereum scaling solution, will conduct a hardfork on its PoS chain. According to a January 12 tweet by Polygon, the planned hardfork is “excellent news” for both developers and consumers, since it would result in a “improved” user experience.
Polygon disclosed further information on the forthcoming hardfork in a blog post on its official website, claiming that it intends to improve network performance by reducing the frequency of gas spikes and eliminating reorgs.
The Polygon Proof-of-Stake (PoS) chain is perhaps the largest layer-2 scaling option for Ethereum, enabling developers and users to experience quicker transactions and lower gas prices while protecting the integrity of the Ethereum network.
Nonetheless, Polygon sometimes suffers significant network demand, which leads to an exponential surge in gas prices known as “gas spikes.” Despite the fact that greater gas prices are to be anticipated during periods of increased network activity, “gas spikes” are an oddity in blockchain operations.
To solve this problem, Polygon asserts that the planned hardfork would increase the “BaseFeeChangeDenominator” from 8 to 16, reducing the basic gas fee’s change rate from 12.5% to 6.2%.
Despite this update, consumers may expect an increase in gas prices during periods of heightened on-chain activity. Nonetheless, significant fluctuations in gas prices would be eliminated.
A reorg or chain restructuring causes a blockchain to momentarily generate two parallel copies of itself. Reorgs provide a significant risk since they might lead to duplicate or lost transactions. Moreover, they enhance the blockchain’s susceptibility to assault throughout the duration of its existence.
To avoid reorgs on the Polygon PoS Chain, its creators want to lower the amount of time required to process transactions and generate a block.
According to the blog post, the planned hardfork would cut the network’s sprint duration from 64 blocks to 16, enabling new blocks to be generated in 32 seconds as opposed to 128 seconds at present.
Notably, the planned polygon hardfork is still pending network community agreement before it can be implemented.