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Polygon's hard fork in Delhi completed successfully! MATIC surged 15% in a week, breaking through $1.

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Polygon

The Polygon team announced last night that they have completed a hard fork upgrade of their PoS blockchain. This hard fork is called the Delhi hard fork and aims to address Polygon's block reorganization and skyrocketing gas fee issues.

Polygon Hard Fork Completed, MATIC Continues to Rise Over the Past Week

The upgrade was discussed since December last year and received extensive support from the validator team. According to Harry Rook, a developer at Polygon Labs, who proposed governance proposals PIP-5 and PIP-6, the hard fork mainly includes the following two changes:

  1. Shortening Sprint Length to reduce the frequency and depth of reorganizations.
  2. Increasing BaseFeeChangeDenominator to slow down the rise of Gas fees during transaction congestion.

In addition, to accommodate this upgrade, all PoS nodes must be upgraded to maintain node synchronization.

At the time of writing, the native token of Polygon, MATIC, is at $1, showing an increase of about 15% over the past week.