• Polygon, an Ethereum-scaling project, completed a hard fork to reduce gas fee spikes and disruptive reorgs.
• The two proposals included in the hard fork were put forth in December and approved by a majority of Polygon validator teams.
• The hard fork aimed to adjust a mechanism that sets gas fees, to keep prices low when there is a lot of activity on the network.
Ethereum-scaling project Polygon successfully completed a hard fork on Tuesday, designed to reduce instances of spiking gas fees and disruptive chain reorganizations. The update included two proposals that were put forth in December and approved by a majority of Polygon validator teams.
The first proposal aimed to adjust a mechanism that sets gas fees – a kind of tax one pays in order to transact on a blockchain – in order to keep prices low when there is a lot of activity on the network. The second proposal enabled an emergency gas fee override that could be activated in the event of a fee emergency. This emergency override would set the gas fee to a reasonable rate and reduce the likelihood of a chain reorg.
The new hard fork was a key step for Polygon in their mission to bring scalable and cost-effective blockchain infrastructure to the Ethereum ecosystem. They are looking to make Ethereum more accessible and user-friendly, allowing users to transact and interact with the Ethereum network in a cheaper and more efficient manner.
The Polygon team is very excited about the successful completion of the hard fork and the positive impact it will have on the Ethereum network. The team has reiterated their commitment to continuing their development and support of the project, and to ensuring that Polygon remains a top choice for scaling and cost efficiency.
The Polygon team has been working with Ethereum developers, miners, and users to create a better Ethereum experience, and they hope that the hard fork will be the first of many steps towards making Ethereum more accessible and equitable. They are dedicated to making sure that Ethereum is a platform that is accessible to everyone, and that no user is left behind due to high fees or lack of scalability.