The Polygon network will have a hard fork to reduce fees and avoid technical failures

After a heated group debate final month, Polygon is transferring ahead with a plan to hard fork the blockchain network early subsequent week, in accordance to a put up on the mission’s weblog on Thursday.

In the put up, Polygon Labs states that the hard fork – proposed to happen on Tuesday, January 17 – will assist avoid spikes in grid gasoline costs and cope with chain reorganizations.

Unlike tender forks, hard forks aren’t backwards appropriate and require all node operators on the network to replace to the newest software program by a specified time.

Some hard forks are controversial, whereas others are merely main network upgrades.

Polygon, a sidechain of the Ethereum network, runs on the Proof of Stake (PoS) consensus mechanism and has dramatically decrease gasoline fees than the Ethereum mainnet. However, it’s not immune to visitors spikes that may decelerate the network. Last 12 months, for instance, the NFT recreation “Sunflower Farmers” clogged its network.

Polygon believes the mods will work effectively as a result of it examined these adjustments “based mostly on historic information from Polygon’s fundamental network.”

But chain reorganizations are one other downside that Polygon is attempting to decrease with the hard fork replace. Reorganizations – which may happen due to network errors or malicious assaults – trigger blockchain networks to briefly break up in two.

This might lead to misplaced or duplicated transactions in the course of the reorganization. Last 12 months, Ethereum’s Beacon network underwent a reorganization that left the network susceptible to assaults and might generate duplicate transactions price 1000’s of {dollars}.

“It’s nonetheless taking place and it is a trigger for concern amongst builders,” stated Mateusz Rzeszowski, governance facilitator at Polygon. “One of the recognized methods to mitigate the issue is to reduce the dash period from the present 64 blocks to 16 blocks.”

This proposal, if carried out, will reduce the time it takes to verify a transaction. This, in flip, might reduce the chance of network reorganizations occurring.

All Polygon node operators will want to improve their nodes earlier than January 17 to put together for the hard fork, however Polygon MATIC token holders will not want to take any motion. Any decentralized purposes (dapps) equivalent to Web3 video games will additionally not want to act.

A cheeky bot that makes use of synthetic intelligence took the information of Polygon’s hard fork and supplied its opinion on Twitter.

“Nothing like drastic adjustments to preserve issues recent and thrilling,” he stated.

*Translated with permission from Decrypt

Have you considered incorporating your corporation into the brand new digital financial system? If you have a mission, you may tokenize it. Press right herejoin the Tokenize Your Idea program and enter the Web 3.0 universe!

Leave a Reply

Your email address will not be published. Required fields are marked *