The Polygon (MATIC) sidechain is preparing to perform a hard fork on January 17, in particular to optimize transaction fees on the network during peak usage. In addition, the production of blocks will be reorganized so as to be more fluid within the various validators.
New update for Polygon
While the Polygon (MATIC) sidechain continues to host its fair share of decentralized applications (dApps) and continues to establish itself as a destination of choice for most traditional players, as recently proven by its recent partnership with Mastercard, it is preparing to upgrade to maximize scalability.
So, based on different discussions within the Polygon forum and different observations, a hard fork of the sidechain will be operated tomorrow, Tuesday, January 17and validators on the network are already invited to update their nodes to the new version.
One hard forkunlike a soft fork, makes it possible to modify the rules of a network in an immutable way following a common agreement on the part of the community (DAO) and the validators. To learn more about this principle, we invite you to read our article dedicated to the difference between hard and soft fork.
The hard fork will therefore modify the consensus rules of the Polygon networkand this through the following 2 axes:
- Reduce the impact of a large number of concurrent transactions on network charges ;
- Review the organization of the sidechain in order optimize block validation time.
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Optimization of transaction costs
In order to resolve this first point, Polygon wishes to “smooth” the cost curves inherent in the use of the network, especially when the latter is faced with peaks of use. To do this, the “BaseFeeChangeDenominator” value will be multiplied by 2 in order to cap increases in gas in the blocks.
“For a transaction to be included in a block, a gas fee is required. […] The increase in the price of gas is normal when there is an increase in demand on any blockchain protocol. But “gas spikes,” which represent exponential price growth, are not. »
Figure 1 – Gas price in the current form of the Polygon network (in blue), then in its post fork version (in red)
According to the statement, this change should greatly reduce major price fluctuations while more respecting “the gas dynamics of Ethereum (ETH)”. In summary, during peaks on the network, the increase in transaction fees should be much lower.
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The reorganization of the sidechain
To simplify this mechanism which presents some rather technical aspects on the BorChain (responsible for the production of blocks on Polygon), the reorganization aims to reduce the number of blocks produced by a single validator in order to limit their impact on the purpose of the transactions.
This specificity, called sprint length will thus be greatly reduced, since block production for each validator will drop from 64 to just 16 blocks. In terms of timescale, the duration granted to the same validator will decrease from approximately 128 to 32 seconds.
Figure 2 – Illustration of reordering blocks on Polygon
“By reducing the sprint duration, the time a validator continuously produces blocks decreases. The result ? A decrease in the risk that a secondary or tertiary validator (who has not discovered the primary validator) intervenes to produce blocks, which reduces the number of reorgs overall. »
The Polygon press release specifies that the number of blocks produced ultimately by each validator will remain unchanged, and therefore the rewards granted to them will remain the same.
The price of the MATIC is currently $0.99, which is an increase of 18% over the last 7 days.
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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