Ethereum layer-2 scaling answer Polygon will endure a tough fork on Jan. 17 to be able to handle gasoline spikes and chain reorganizations points that has affected consumer expertise on the Polygon proof-of-stake (POS) chain.
Polygon formally confirmed the onerous fork occasion in Jan. 12 a weblog publish, which got here after weeks of preliminary dialogue on Polygon Enchancment Proposal (PIP) discussion board web page in late December.
GET READY FOR THE HARDFORK
The proposed hardfork for the #Polygon PoS chain will make key upgrades to the community on Jan seventeenth.
That is excellent news for devs & customers — & will make for higher UX.
— Polygon (@0xPolygon) January 12, 2023
A Polygon spokesperson additionally supplied Cointelegraph with extra particulars of the onerous fork on Jan. 14:
“The onerous fork is coded for the Block >= 38,189,056. No centralized, single actor goes to provoke it. Validators of the community must replace their nodes previous to the indicated block, and they’re already doing so.”
87% of the 15 voters of the Polygon Governance Staff voted in favor of accelerating the BaseFeeChangeDenominator operate from 8 to 16 to scale back gasoline payment spikes and to lower the SprintLength operate from 64 blocks to 16 to be able to repair the chain reorganization downside.
In addressing the gasoline spike problem, the Polygon Staff defined that as a result of the bottom payment value typically “experiences exponential spikes” when on-chain exercise will increase quickly, by rising the denominator from 8 to 16, they imagine “the expansion curve may be flattened” and thus “clean extreme fluctuations” in gasoline costs.
As for the chain reorganization downside, Polygon defined that by lowering dash size, transaction finality will enhance, permitting a single block producer so as to add blocks constantly at a frequency of 32 seconds versus the present time of 128 seconds.
“The change is not going to have an effect on the full time or variety of blocks a validator produces, so there shall be no change in rewards general,” they added.
Chain reorganization happens when a block is deleted from the blockchain to make room for the brand new, longer chain to make sure that all node operators have the identical copy of the ledger.
Nonetheless, the reorganization should proceed as effectively as doable because it will increase the chance of a 51% assault.
The Polygon Staff additionally confirmed that MATIC token holders and delegators is not going to have to take motion and that functions is not going to be affected through the onerous fork.
The worth of Polygon’s token, MATIC is presently $0.977, up 13.6% since Polygon introduced the information on Jan. 12.