JAKARTA Cryptocurrency number 10 based on its market capitalization, Polygon (MATIC), is reported to be getting increased network performance and efficiency. This information was conveyed by the MATIC development team in its latest blog post.
The Polygon team outlined that the project had reached a number of targets in terms of the scalability of the Ethereum network. Currently Polygon needs speed in the network.
Therefore, there are two important points that will be overcome, namely reducing the jump in transaction costs and reducing network'reorganization' (reorgs) in order to speed up completion time.
The team said it happened "when the validator node received new information showing a longer or higher version of the chain." As a result, the old network was thrown away to provide space for the new network.
Furthermore, the developer stated that he would focus on reducing transaction costs on the Ethereum blockchain. That way, it is hoped that transaction fees or gas fees will decrease from 12.5 percent to 6.25 percent.
"The hope is that the rate of change for basic transaction costs will drop to 6.25 percent (100/16) from 12.5 percent (100/8) today in an effort to smooth out severe gas fee price fluctuations," wrote developer Polygon, quoted by DailyCoin.
"While the gas will still increase as long as demand peaks, it will be more in line with how Ethereum gas dynamics now works. The goal is to smooth out the spike and ensure a smoother experience when interacting with chains," Polygon added.
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