An Ethereum scaling effort known as Polygon successfully carried out a hard fork to reduce the number of occurrences of increasing gas costs and disruptive chain reorganizations known as “reorgs.” The software patch for the Ethereum scaling project that went live on Tuesday included two recommendations from December that were accepted by Polygon validator teams. These ideas were put into the software patch.
An update to the program was performed on Tuesday morning at around 5:45 a.m. Eastern Standard Time, as stated in a tweet sent out by Polygon Labs, the primary group responsible for the project.
The Polygon PoS network has been upgraded 👏👏👏
To learn more about the upgrade, check out 👇https://t.co/RaBWDjEGrI pic.twitter.com/WiDOdJWzaK
— Polygon | Aggregated (@0xPolygon) January 17, 2023
December saw the debut of both concepts that would become part of the hard fork. An estimated 87 percent of the teams participating in the Polygon validation process voted to approve. It is shockingly low that just 15 validator teams participated in the voting process, considering that there can only be 100 active validators at any time.
What do the recommendations entail?
The first recommendation modified the method used to establish gas prices, a type of tax that users are required to pay to participate in blockchain transactions. The new approach makes an effort to keep gas prices at a level that is reasonable even when the network is crowded.
The second proposal seeks to reduce the time necessary to complete a data block as part of reducing the frequency of reorgs, which are caused when a validator node receives information that momentarily generates a new version of the blockchain. Reorgs can be avoided by reducing the time required to complete a data block.
The price of Polygon’s native token, MATIC, has climbed by around 15% over the previous week. This rise is in line with a general uptick seen throughout the digital assets markets.
