Polygon uses EIP-1559 on the testnet.

Polygon's Key Improvement Team has started implementing the Ethereum Improvement Proposal (EIP) -1559 implementation to provide better visibility into fuel costs and MATIC token depletion below.

EIP-1559, also known as the London Hard Fork, launched on the Ethereum mainnet on August 5, 2021 and is one of the biggest changes in history. After discussions and discussions with the community, Polygon is taking steps to introduce this important change in its network. It was announced on the Mumbai testnet on December 14 at 8:00 a.m. (UTC).

Under EIP-1559, single-rate auctions (single-price auctions) are excluded on the basis of a large computer system. Instead, there is a cost separation and a key cost for accelerating the supply chain, including in the next phase. This will incinerate the core value, which changes with the integration of the grid.

Since oil prices are determined by supply and demand, these changes do not reduce operating costs. Consumers pay more because the starting price is the lowest price included in the next block, so that users can better estimate their prices.

These changes will have a major impact on all Polygon stakeholders.

the symbol holder

Polygon's MATIC has a solid content of 10 billion, so if the number of tokens decreases, there will be a deflationary effect. After installation, we will use the Ethereum experience as a benchmark to simulate the impact on all MATIC products. This survey shows that annual consumption will represent 0.27% of total MATIC equipment.

DApp users and developers

Polygon's decentralized application (dApp) users are already enjoying the lowest cost in the industry and benefiting from higher fuel costs. The downside is that fewer MATIC tokens include token consumption and fuel cost curves similar to Ethereum. By making sure all Ethereum devices run smoothly with minimal side effects, developers benefit greatly.

Validators and delegators

A high deflationary value will be beneficial for clients and agents as the rewards for marketing are defined in MATIC. This change reduces spam traffic and reduces network engagement, as the initial cost increases when the block is full. Beneficiaries who receive all of the current rates receive only the next significant amount.

Polygon's key development team is excited to bring these enhancements to everyone in the ecosystem! Visit our blog for more details on implementing EIP-1559 and tips on modifying nodes.

Let's bring the world to Ethereum!