The developers of the Ethereum-network Layer-2 solutions Polygon proposed to carry out a hard fork. If approved by the community, the update is planned for 17 January 2023.
📢 GET READY FOR THE HARDFORK 🔥
The proposed hardfork for the #Polygon PoS chain will make key upgrades to the network on Jan 17th.
This is good news for devs & users — & will make for better UX.
You will NOT need to do anything differently. Details:https://t.co/RaBWDjEGrI pic.twitter.com/nipa15YQdZ
— Polygon (@0xPolygon) January 12, 2023
The proposed update aims to:
- smoothing gas-price spikes;
- reducing the time for potential blockchain reorganisations.
The first change relates to how the network sets the size of the gas fee to include a transaction in a block. During periods of high demand the value typically rises, but sometimes it does so exponentially.
To smooth gas spikes, the team proposed to increase BaseFeeChangeDenominator (which sets the base fee) from the current 8 to 16. It is expected to help smooth the pace at which gas prices rise and fall.
The impact of the change was tested on historical data.
Blockchain reorganisations occur when a validator node receives information that temporarily creates a new version of the chain, developers reminded.
They proposed to shorten finalisation time from about 128 seconds to about 32 seconds. This is planned to be achieved by reducing the sprint length (the number of blocks continuously produced by a validator) from 64 to 16.
In December, the Polygon team unveiled the final version of the testnet for scaling zkEVM.
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