fbpx
  • Price Tracker
  • Guest Post
  • Advertising & Partnership
  • Press Release
  • Editorial Policy
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture Logo
No Result
View All Result

Home » Polygon Hard Fork Completed, MATIC Sees $2 Price High

Polygon Hard Fork Completed, MATIC Sees $2 Price High

John Hobbs by John Hobbs
January 19, 2023
in Currencies
Polygon Hard Fork Completed, MATIC Sees $2 Price High
Share on FacebookShare on Twitter

At block 38,189,056, the long-awaited hard fork was completed to enhance Polygon’s performance, inspiring hope among the MATIC community.

You might also like

SUI Price Hits All-Time High – But Valuation Remain Questioned

Solana could “Seriously Challenge” Ethereum as Institutions Favour Scalability, Says Sygnum

Ethereum 50% below its all-time high due to Interoperability Challenges and Whale Inactivity

The Ethereum layer-2 scaling protocol development team said earlier that the hard fork would go forward as planned, adding that MATIC holders wouldn’t have to do anything to initiate it.

The “Polygon Delhi Fork” update has two primary goals: decreasing gas spikes during transactions and increasing transaction finality by reducing chain reconfiguration (reorgs).

The Polygon PoS network has been upgraded 👏👏👏

To learn more about the upgrade, check out 👇https://t.co/RaBWDjEGrI pic.twitter.com/WiDOdJWzaK

— Polygon (@0xPolygon) January 17, 2023

In a blog post last week, the polygon team announced the pricing increase from $8 to $16. A transaction must have at least the basic gas fee to be included in a new block. While gas prices are typically effective, they can see exponential increases at peak demand for the network.

The team forecasts that to mitigate the effects of extreme swings in gas prices, the rate of change for the base gas cost will decrease from the current 12.5% to 6.25.

As the development team explained, their goal was smooth out spikes and offered a more seamless experience when dealing with the chain. Even while gas will still increase during high demand, it will be more consistent with how Ethereum gas dynamics currently function.

Concerning the second goal of the update, the group mentioned that addressing chain reorgs will cut the length of sprints from 64 to 16 blocks. Therefore, a single block producer will only need roughly 35 seconds instead of the present 11 minutes and 40 seconds to manufacture blocks continually (about 128 seconds).

Polygon was introduced in 2017 as Ethereum’s long-awaited scalability solution. There have been over 2.3 billion transactions handled since then, resulting in a quicker throughput and lower prices for consumers and developers. Polygon has over 203 million registered users and hosts thousands of DApps, including major Web3 projects like UniSwap and Aave. As a result, the planned update is one of the more immediate measures to enhance the chain’s performance and dependability.

MATIC, Polygon’s native token, has not yet made any significant changes after the update, although it has risen over 20% in the previous week and is projected to continue growing near $2. According to statistics compiled by CoinMarketCap, the price of the cryptocurrency as of press time was $1.02, representing a gain of 0.74% in the last 24 hours.

Tags: Altcoin News
John Hobbs

John Hobbs

John Hobbs serves as the co-Leader of the Coin Culture tokens and data team for Australia site, specialising in crypto derivatives, DeFi, market microstructure, and protocol analysis. John possesses a cryptocurrency portfolio including assets such as YFI, SHIB, DOGE, USDT, MATIC, MANA, GLMR, LINK and XMR. Additionally, he contributes over $5,000 to liquidity pools across various platforms including Compound, Curve, SushiSwap and PancakeSwap. John has a professional background in finance and data analysis, with over five years of experience as a crypto investor.

Recommended For You

SUI Price Hits All-Time High – But Valuation Remain Questioned

by John Hobbs
October 18, 2024
0
SUI Price Hits All-Time High – But Valuation Remain Questioned

SUI has recently closed the week at its all-time high (ATH) price of $2.30, outperforming top altcoins such as Polkadot (DOT) and ranking among the top 15 cryptocurrencies....

Read more

Solana could “Seriously Challenge” Ethereum as Institutions Favour Scalability, Says Sygnum

by John Hobbs
October 4, 2024
0
Solana could “Seriously Challenge” Ethereum as Institutions Favour Scalability, Says Sygnum

Swiss crypto bank Sygnum suggests that Solana could become a serious contender to Ethereum, particularly if financial institutions continue choosing it for real-world asset tokenization platforms and stablecoins. ...

Read more

Ethereum 50% below its all-time high due to Interoperability Challenges and Whale Inactivity

by John Hobbs
September 9, 2024
0
Ethereum 50% below its all-time high due to Interoperability Challenges and Whale Inactivity

Ethereum is currently grappling with significant market and technical challenges, which have contributed to its valuation being 50% below its all-time high of over $4,800. Analysts attribute this...

Read more

PayPal’s Stablecoin Reaches $1B Market Cap as Incentives Fuel Solana Activity

by John Hobbs
August 28, 2024
0
PayPal's Stablecoin Reaches $1B Market Cap as Incentives Fuel Solana Activity

PayPal's stablecoin, PYUSD, recently reached $1 billion in market cap, as reported by CoinMarketCap.  Issued with Paxos, PYUSD saw its supply more than double since June, despite the...

Read more

Concerns Rise Over Tron’s USDD After $732M Bitcoin Withdrawal From Reserve

by John Hobbs
August 24, 2024
0
Concerns Rise Over Tron's USDD After $732M Bitcoin Withdrawal From Reserve

The crypto community has shown concerns about the Tron-based stablecoin USDD after the Tron DAO withdrew $732 million worth of Bitcoin from its reserves. People fear that this...

Read more
Next Post
Best Crypto Youtube Channels For Crypto Enthusiasts 2023

Best Crypto Youtube Channels For Crypto Enthusiasts 2024

Most popular

  • Why Brands Should Adopt A ‘Hybrid DAO’ Model

    Why Brands Should Adopt A ‘Hybrid DAO’ Model

    185 shares
    Share 74 Tweet 46
  • Kucoin Review 2024: Features, Fees & More

    156 shares
    Share 62 Tweet 39
  • Coinbase vs Binance: A Side-By-Side Comparison 2023

    270 shares
    Share 108 Tweet 68
  • 11 Best Crypto Debit Cards In Australia: A Curated List 2024

    429 shares
    Share 172 Tweet 107
  • 20 Best Crypto Copy Trading Platforms: A Curated List 2024

    672 shares
    Share 269 Tweet 168

Recommended

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

November 9, 2024
Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

November 8, 2024
Trump Declares Victory - What will the US Crypto be?

Trump Declares Victory – What will the US Crypto be?

November 6, 2024
Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

November 5, 2024
coin culture logo

Your Australian news source for all things cryptocurrency. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing.

Hot Topics

  • DeFi
  • NFT
  • Gaming

Top articles

CoinSpot Review
Swyftx Review
Best Crypto Exchanges Australia
CoinSpot vs Swyftx

BROWSE BY TAG

Altcoin News Bitcoin CoinSpot Cryptocurrencies Crypto Exchange Crypto Tax DeFi Dogecoin Dogecoin News ETF Ethereum Feature FED FTX Games hacks Layer2 Markets meme Metaverse Mining NFT Opinion People Policy and Regulation Polygon SEC Security Solana News Stablecoins Tech Top Crypto News Australia | CoinCulture Trading US web3 XRP News

RECENT POSTS

  • Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push
  • Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency
  • Trump Declares Victory – What will the US Crypto be?

© 2023 CoinCulture. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.
  • bitcoinBitcoin(BTC)$104,566.00-1.81%
    BITCOIN
    24H : -1.81%
    Volume : $41,204,417,684.00
    Marketcap : $2,074,755,183,382.00
  • ethereumEthereum(ETH)$2,563.90-3.67%
    ETHEREUM
    24H : -3.67%
    Volume : $22,558,336,029.00
    Marketcap : $308,968,926,780.00
  • tetherTether(USDT)$1.0000.0100%
    TETHER
    24H : 0.0100%
    Volume : $69,485,433,142.00
    Marketcap : $153,094,031,409.00
  • rippleXRP(XRP)$2.19-4.22%
    XRP
    24H : -4.22%
    Volume : $3,369,813,852.00
    Marketcap : $128,384,947,225.00
  • binancecoinBNB(BNB)$663.76-2.27%
    BNB
    24H : -2.27%
    Volume : $1,059,226,431.00
    Marketcap : $96,780,285,382.00
  • solanaSolana(SOL)$159.51-5.68%
    SOLANA
    24H : -5.68%
    Volume : $4,889,958,814.00
    Marketcap : $83,307,945,963.00
  • usd-coinUSDC(USDC)$1.0000.00%
    USDC
    24H : 0.00%
    Volume : $9,171,766,078.00
    Marketcap : $61,032,337,619.00
  • dogecoinDogecoin(DOGE)$0.199-9.69%
    DOGECOIN
    24H : -9.69%
    Volume : $2,489,856,608.00
    Marketcap : $29,682,090,374.00
  • tronTRON(TRX)$0.270-2.37%
    TRON
    24H : -2.37%
    Volume : $740,668,070.00
    Marketcap : $25,596,412,707.00
  • cardanoCardano(ADA)$0.702-4.79%
    CARDANO
    24H : -4.79%
    Volume : $954,579,334.00
    Marketcap : $25,332,666,981.00

Add New Playlist

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki

© 2023 CoinCulture. All rights reserved.