EIP-1559 Upgrades Are Going Live on Polygon Mainnet - Aliens: AI Crypto News & Markets Updates
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EIP-1559 Upgrades Are Going Live on Polygon Mainnet

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Polygon Blog

Mon, Jan 17, 2022

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EIP-1559 Upgrades Are Going Live on Polygon Mainnet Polygon Team January 17, 2022 The much-anticipated implementation of Ethereum Improvement Proposal 1559 is coming to the Polygon blockchain, bringing with it burning of the native MATIC token and better fee visibility.

After a successful upgrade on the Mumbai testnet, Polygon’s core development team is rolling it out on the mainnet.

The burning is a two-step affair that starts on the Polygon network and completes on the Ethereum network.

The Polygon team has created a public interface where users can monitor and become part of the burning process.

DApp Users and Developers Users of decentralized apps (dApps) on Polygon, which already enjoy some of the lowest fees in the industry, will benefit from more predictable gas prices.

The downsides are fewer MATIC tokens available because of the burn and a gas fee curve more similar to that of Ethereum.

Because the base fee increases automatically if the block is full, the changes will result in fewer spam transactions and lead to less network congestion.

Polygon’s core development team is very excited to bring these improvements to everyone in the ecosystem!

Polygon Zero’s mission is simple: to use zero-knowledge proofs to scale Ethereum to a billion users, without compromising decentralization or security.

Today we are releasing Polygon Miden’s core component - Miden VM, the first open-source STARK-based [...] When it comes to deploying on Ethereum, there is only one place that lets developers easily migrate their projects, offers a broad range of scaling options and has some of the industry’s lowest transaction rates.

[...] The much-anticipated implementation of Ethereum Improvement Proposal 1559 is coming to the Polygon blockchain, bringing with it burning of the native MATIC token and better fee visibility.

Over the past year, Polygon made big strides toward accomplishing its mission of bringing the next billion users to Ethereum.

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