Ethereum layer-2 scaling answer Polygon will bear a tough fork on Jan. 17 with a view to handle gasoline spikes and chain reorganizations points that has affected person 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 discussion 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.
You’ll NOT have to do something in a different way. Particulars:https://t.co/RaBWDjEGrI pic.twitter.com/nipa15YQdZ
— Polygon (@0xPolygon) January 12, 2023
A Polygon spokesperson additionally offered Cointelegraph with further 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 need to replace their nodes previous to the indicated block, and they’re already doing so.”
87% of the 15 voters of the Polygon Governance Group voted in favor of accelerating the BaseFeeChangeDenominator perform from 8 to 16 to cut back gasoline charge spikes and to lower the SprintLength perform from 64 blocks to 16 with a view to repair the chain reorganization drawback.
In addressing the gasoline spike situation, the Polygon Group defined that as a result of the bottom charge value usually “experiences exponential spikes” when on-chain exercise will increase quickly, by rising the denominator from 8 to 16, they consider “the expansion curve may be flattened” and thus “clean extreme fluctuations” in gasoline costs.
Associated: Polygon checks zero-knowledge rollups, mainnet integration inbound
As for the chain reorganization drawback, Polygon defined that by reducing 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 won’t have an effect on the full time or variety of blocks a validator produces, so there shall be no change in rewards total,” 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.
Nevertheless, the reorganization should proceed as effectively as attainable because it will increase the chance of a 51% assault.
The Polygon Group additionally confirmed that MATIC token holders and delegators won’t have to take motion and that purposes won’t be affected through the onerous fork.
The value of Polygon’s token, MATIC is at present $0.977, up 13.6% since Polygon introduced the information on Jan. 12.
