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    EVM - 9. Polygon Hard Fork

    ETH-scaling project Polygon completed a hard fork last month in hopes of reducing gas fees, as well as disruptive chain reorganizations known as "reorgs,” Let’s dive into the network’s health and performance leading up to and since the hard fork.

    What is Polygon?

    • Polygon is a scaling solution for public blockchains, specifically Ethereum. Polygon supports all the existing Ethereum tooling along with faster and cheaper transactions. [ Polygon ]

    What is Polygon (MATIC)?

    • Polygon has its own cryptocurrency, called MATIC, which is used to pay fees on the Polygon network, for staking, and for governance (which means that MATIC holders get to vote on changes to Polygon). You can also buy and sell MATIC via Coinbase and other exchanges.
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    What is Hard Fork?

    • A hard fork is an event where a blockchain “splits” into two separate blockchains running parallel with each other, each with different parameters from a common previous chain.

    A critical hardfork will be proposed that will aim to:

    1. reduce severity of gas spikes and
    2. address chain reorganizations (reorgs) in an effort to reduce time to finality.

    • Bounty Question:

    • 9.1 Has the software upgrade led to lower gas fees as hoped?
    • 9.2 Have these changes affected any meaningful user metrics, such as volume, activity, monthly active users, or others?

    What is Gas ( Polygon )?

    • This mechanism charges senders of transactions with a small fee called gas fee which is then used to reward validators who validate transactions on the network. This fee is in the form of MATIC which is also used on the Polygon network to facilitate value transfers, payouts to validators and smart contract executions.

    What is Gwei ?

    • Gwei is the smallest denomination of MATIC that is equivalent to 1/1,000,000,000 of 1 MATIC (1 MATIC = 1,000,000,000 gwei). All transaction fees on the Polygon network are denominated in gwei.
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