Polygon‘s recent completion of the Ahmedabad update marks a pivotal moment for the network’s Proof-of-Stake mainnet. Following this update, Polygon’s price experienced a notable 5% surge, fueled in part by an uplift in market sentiment. This upgrade aims to elevate both developer and user experiences, potentially boosting engagement within the network.
What Changes Does the Ahmedabad Update Bring?
The Ahmedabad update, thoroughly vetted on the Amoy testnet, introduces several key enhancements designed to increase the efficiency of Polygon. Central to this update are Polygon Improvement Proposals (PIPs) 30, 36, and 45. Among these updates, PIP-30 stands out by expanding the maximum code size from 24KB to 32KB, enabling developers to craft more sophisticated decentralized applications, thus enhancing Polygon’s capabilities.
How Does the Shift from MATIC to POL Impact the Network?
The update also signifies a major transition from MATIC to POL as Polygon’s native currency, with WMATIC transitioning to WPOL. This marks a significant shift towards a POL-centric structure within the Polygon ecosystem. In alignment with these changes, all node operators, validators, and infrastructure providers have upgraded to the latest Bor and Erigon versions, ensuring seamless blockchain operations.
The Ahmedabad update coincides with a rise in POL’s price by over 5%, attributed to improved market sentiment. According to IntoTheBlock, a significant 61.38% of POL address holders are currently profiting, a figure likely to grow should Bitcoin maintain a price above $65,000. Additionally, Coinbase’s quick resolution of transaction delays on the Polygon network further boosts this positive trend, preventing investor losses and ensuring transactional fluidity.
The upgrade has made significant strides in the network’s technical infrastructure, creating a more conducive environment for developers. As we move forward, examining the growth data from the September 26 update will provide clearer insights into the long-term effects on the Polygon ecosystem.
Polygon’s forward-thinking approach with the Ahmedabad update not only addresses current challenges but also sets a foundation for future innovations and increased network adoption. By enabling more complex applications and transitioning to the POL token, Polygon positions itself for sustained growth and adaptability in the ever-evolving blockchain landscape.