• Polygon is set to undergo a hard fork upgrade on January 13, 2023 to reduce network gas fee spikes and chain reorganizations (reorgs).
• The upgrade will lower the impact of gas fee spikes by increasing the “BaseFeeChangeDenominator” from 8 to 16.
• The upgrade will also reduce the production time of a single block producer from the current 15 seconds to 10 seconds.
The blockchain layer 2 platform, Polygon, is preparing to undergo a hard fork upgrade in order to improve the security and efficiency of its sidechain network. Polygon Labs has announced that the proposed hard fork upgrade, scheduled for January 13, 2023, will reduce network gas fee spikes and chain reorganizations (reorgs), making the platform more secure and user-friendly.
The hard fork upgrade will lower the impact of gas fee spikes by increasing the “BaseFeeChangeDenominator” from 8 to 16. This factor determines the rate at which the base transaction fee changes in response to the current demand for block space, and by increasing the denominator, the rate of change will be smoothed out, reducing the severity of gas price fluctuations during periods of high demand. The change has been backtested against historical Polygon PoS mainnet data, giving the team confidence that it will work as intended.
Another issue that will be addressed by the hard fork upgrade is chain reorgs. These occur when the network splits briefly due to congestion or malicious attacks, and the upgrade will reduce the production time of a single block producer from the current 15 seconds to 10 seconds. This will make it more difficult for malicious actors to disrupt the network, and also make it easier for the network to recover from any reorgs that do occur.
The hard fork debate was first presented to the Polygon community in December 2022, and the team is hopeful that the upgrade will be a success. The upgrade is scheduled to take place at 1:40 pm on January 13, 2023, and all node operators on the network must update their software in order to participate in the hard fork. By reducing gas fee spikes and chain reorgs, the hard fork upgrade will make Polygon a more secure and user-friendly blockchain platform.