Polygon Network Hardforks to Reduce Gas Fees and Reorgs

• Polygon has proposed a hardfork of its network on January 17th to address the spike in gas fees and reorgs
• The proposed changes include a decrease in the base gas fee to 6.25% and a decrease in the length of a block producer’s sprint from 64 to 16
• Following the announcement, the price of MATIC was on an upward trend, indicating a positive reaction to the change

Polygon has announced its intent to hardfork its network on 12 January, with the changes set to come into effect on 17 January. The hardfork is intended to address the recent spike in gas fees and reorgs that have been plaguing the network.

The proposed changes are set to have a major impact on the MATIC network, with the base gas fee set to decrease from its current 12.5% (100/8) rate of change to 6.25% (100/16). Additionally, the length of a block producer’s sprint will be decreased from 64 to 16, which is expected to speed up the process of verifying transactions.

The response to the announcement has been positive, with the price of MATIC on an upward trend following the news. At the close of trade on 12 January, MATIC had gained close to 3% in value, indicating a positive reaction to the changes. The asset was also in a strong bullish trend, according to the trendline on the daily timeframe.

The hardfork is set to bring a number of benefits to the MATIC network, including mitigating the increase in gas prices that occurs whenever there is heavy network usage. Additionally, the reorgs are expected to be fewer as the sprint length is cut in half. These changes should lead to improved user experience, which is great news for both developers and users alike.

Overall, the hardfork is a welcome announcement for the MATIC network, and it will be interesting to see the impact that the changes have on the network in the coming weeks.