Upgrading Polygon PoS Chain to Boost Performance + TA
Hello friend.
Today im going to explain about the latest happenings in polygon layer-2 blockchain.
Lets see what will happen?
When the Polygon PoS chain first launched it offered a much-needed solution for Ethereum’s scaling issues.
It gave users and developers alike everything they love about Ethereum but with faster throughput and lower fees.
Now, with tens of thousands of decentralized apps, over 207 million unique addresses, more than 2.3 billion processed transactions, and a vanishingly-small carbon-footprint,
the Polygon PoS chain has emerged as the premier destination for dApps.
It is home to some of the biggest Web3 projects like Uniswap and Aave as well as major companies like Robinhood, Adobe, and Stripe.
But this is only the beginning.
Longer-term technical upgrades to Polygon PoS are being worked on, like parallelization, even while other promising tech for scaling, like Polygon zkEVM, is being built.
a critical hardfork will be proposed that will aim to:
1 - reduce severity of gas spikes;
In order for a transaction to be included in a block, a gas fee is required.
The “base fee” is the minimum fee for block inclusion, and is set in accordance with EIP-1559.
Although on-chain gas dynamics work well a majority of the time, when the chain experiences high demand,
the base gas fee experiences exponential spikes.
Increased gas prices are normal during surges in demand on any blockchain protocol.
But “gas spikes,” which represent exponential growth in price, are not.
They are a result of EIP-1559 and the Polygon PoS chain’s faster block times (~2s.)
2 - address chain reorganizations (reorgs) in an effort to reduce time to finality.
Decrease the sprint length from 64 to 16 blocks.
By reducing the length to 16 blocks, this upgrade means a single block producer will produce blocks continuously for a much shorter time (~32 sec) than the current (~128 seconds).
Doing so will decrease the depth of reorgs.
“Sprint length” describes the number of blocks a validator produces contiguous blocks on Bor chain.
By reducing sprint length, the time a validator continuously produces blocks decreases.
The result? Lowering the chances of a secondary or tertiary validator (who hasn’t discovered the primary) kicking in to produce blocks, resulting in fewer reorgs overall.
Reorgs are possible due to the architecture of the Polygon PoS chain, which relies on probabilistic consensus.
Finality for a transaction is achieved based on the number of confirmed valid blocks on top of the block containing a transaction.
In the Polygon PoS chain, applications wait approximately 50 blocks before considering a transaction final.
A reorg occurs when a validator node receives new information that shows a longer, or higher version of the chain.
The chain with the highest difficulty is called the “canonical” chain.
If a longer version of the chain arrives with more blocks, this is the new canonical chain, and the old one must be discarded.
Reorgs may impact transaction finality and disrupt the ability of an application to be confident that their transactions are part of the canonical version of the chain.
Expectation after the hardfork:
By decreasing the sprint length, the hardfork will help reduce the frequency and depth of reorgs, and improve transaction finality.
The change will not affect the total time or number of blocks a validator produces, so there will be no change in rewards overall.
Now lets look at technical perspective:
take a look at picture below (thats a weekly chart):
As you can see , the price supports in 0.76 strongly with a n Engulfing candle
and now it reaches to the correction area.
correction lasts till 50EMA (green line) and after that will increase again.
Notice that this analysis is a Long-Term analysis .
So try to invest in your own strategyk.
I think Polygon will be one of the best ecosystems Blochchain seen in these years.
THANK YOU fo reading my idea.
PLZ support me and put your opinion in comments?
What do you think?
Today im going to explain about the latest happenings in polygon layer-2 blockchain.
Lets see what will happen?
When the Polygon PoS chain first launched it offered a much-needed solution for Ethereum’s scaling issues.
It gave users and developers alike everything they love about Ethereum but with faster throughput and lower fees.
Now, with tens of thousands of decentralized apps, over 207 million unique addresses, more than 2.3 billion processed transactions, and a vanishingly-small carbon-footprint,
the Polygon PoS chain has emerged as the premier destination for dApps.
It is home to some of the biggest Web3 projects like Uniswap and Aave as well as major companies like Robinhood, Adobe, and Stripe.
But this is only the beginning.
Longer-term technical upgrades to Polygon PoS are being worked on, like parallelization, even while other promising tech for scaling, like Polygon zkEVM, is being built.
a critical hardfork will be proposed that will aim to:
1 - reduce severity of gas spikes;
In order for a transaction to be included in a block, a gas fee is required.
The “base fee” is the minimum fee for block inclusion, and is set in accordance with EIP-1559.
Although on-chain gas dynamics work well a majority of the time, when the chain experiences high demand,
the base gas fee experiences exponential spikes.
Increased gas prices are normal during surges in demand on any blockchain protocol.
But “gas spikes,” which represent exponential growth in price, are not.
They are a result of EIP-1559 and the Polygon PoS chain’s faster block times (~2s.)
2 - address chain reorganizations (reorgs) in an effort to reduce time to finality.
Decrease the sprint length from 64 to 16 blocks.
By reducing the length to 16 blocks, this upgrade means a single block producer will produce blocks continuously for a much shorter time (~32 sec) than the current (~128 seconds).
Doing so will decrease the depth of reorgs.
“Sprint length” describes the number of blocks a validator produces contiguous blocks on Bor chain.
By reducing sprint length, the time a validator continuously produces blocks decreases.
The result? Lowering the chances of a secondary or tertiary validator (who hasn’t discovered the primary) kicking in to produce blocks, resulting in fewer reorgs overall.
Reorgs are possible due to the architecture of the Polygon PoS chain, which relies on probabilistic consensus.
Finality for a transaction is achieved based on the number of confirmed valid blocks on top of the block containing a transaction.
In the Polygon PoS chain, applications wait approximately 50 blocks before considering a transaction final.
A reorg occurs when a validator node receives new information that shows a longer, or higher version of the chain.
The chain with the highest difficulty is called the “canonical” chain.
If a longer version of the chain arrives with more blocks, this is the new canonical chain, and the old one must be discarded.
Reorgs may impact transaction finality and disrupt the ability of an application to be confident that their transactions are part of the canonical version of the chain.
Expectation after the hardfork:
By decreasing the sprint length, the hardfork will help reduce the frequency and depth of reorgs, and improve transaction finality.
The change will not affect the total time or number of blocks a validator produces, so there will be no change in rewards overall.
Now lets look at technical perspective:
take a look at picture below (thats a weekly chart):
and now it reaches to the correction area.
correction lasts till 50EMA (green line) and after that will increase again.
Notice that this analysis is a Long-Term analysis .
So try to invest in your own strategyk.
I think Polygon will be one of the best ecosystems Blochchain seen in these years.
THANK YOU fo reading my idea.
PLZ support me and put your opinion in comments?
What do you think?