March 31, 2023

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Polygon is one of the most popular layer-2 solutions on the Ethereum blockchain. Recently, the project has reportedly completed its hard fork event with success at a block height of 38 million. To this end, the MATIC investors are positive about an upcoming wave of retracement for the native token.

It is worth mentioning that the hard fork event was geared toward boosting the performance of Polygon. The Polygon devs have notified the community members that no input on their part is required, and the hard fork will commence automatically.

The latest update has been dubbed Delhi fork. As per the devs of Polygon, there are two main objectives that this hard fork is going to accomplish. The first one is to reduce the gas inflation taking place on Polygon on account of transaction traffic. The second solution is to make better the transaction finality through chain recognition reduction.

The Polygon team shared in a new blog publication that following the implementation of the upgrade, the base fee will move from 8 to 16.

It is important to note that the base fee is the minimum requirement gas necessary to make transactions on a new Polygon block. In high-demand durations, the base gas often explodes, creating issues for investors.

Delhi Fork Upgrade

It is important to note even after the upgrade; Polygon is going to keep experiencing the inflation of gas during high-demand durations. However, it is expected to be smoothed out.

On the other hand, the chain reorgs are expected to reduce from 64 to 16 blocks. In this manner, the block time for Polygon will shrink from 128 seconds to 35 seconds.

Also Read:  Bitcoin’s Trading Volume Reaches 3-Month High

Polygon is one of the most successful scaling solutions on the Ethereum blockchain. Using Polygon, investors have been able to get better throughput and lower gas. Thus far, Polygon has processed 2.3 billion transactions and hosts around 203 million unique addresses.

At the same time, thousands of dApps have signed up with Polygon. Some major Ethereum dApps, such as Uniswap and AAVE, are also on Polygon.

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