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Upgrading Polygon PoS Chain to Boost Performance + TAHello friend. Today im going to explain about the latest happenings in polygon layer-2 blockchain. Lets see what will happen? When the Polygon PoS chain first launched it offered a much-needed solution for Ethereum’s scaling issues. It gave users and developers alike everything they love about Ethereum but with faster throughput and lower fees. Now, with tens of thousands of decentralized apps, over 207 million unique addresses, more than 2.3 billion processed transactions, and a vanishingly-small carbon-footprint, the Polygon PoS chain has emerged as the premier destination for dApps. It is home to some of the biggest Web3 projects like Uniswap and Aave as well as major companies like Robinhood, Adobe, and Stripe. But this is only the beginning. Longer-term technical upgrades to Polygon PoS are being worked on, like parallelization, even while other promising tech for scaling, like Polygon zkEVM, is being built. a critical hardfork will be proposed that will aim to: 1 - reduce severity of gas spikes; In order for a transaction to be included in a block, a gas fee is required. The “base fee” is the minimum fee for block inclusion, and is set in accordance with EIP-1559. Although on-chain gas dynamics work well a majority of the time, when the chain experiences high demand, the base gas fee experiences exponential spikes. Increased gas prices are normal during surges in demand on any blockchain protocol. But “gas spikes,” which represent exponential growth in price, are not. They are a result of EIP-1559 and the Polygon PoS chain’s faster block times (~2s.) 2 - address chain reorganizations (reorgs) in an effort to reduce time to finality. Decrease the sprint length from 64 to 16 blocks. By reducing the length to 16 blocks, this upgrade means a single block producer will produce blocks continuously for a much shorter time (~32 sec) than the current (~128 seconds). Doing so will decrease the depth of reorgs. “Sprint length” describes the number of blocks a validator produces contiguous blocks on Bor chain. By reducing sprint length, the time a validator continuously produces blocks decreases. The result? Lowering the chances of a secondary or tertiary validator (who hasn’t discovered the primary) kicking in to produce blocks, resulting in fewer reorgs overall. Reorgs are possible due to the architecture of the Polygon PoS chain, which relies on probabilistic consensus. Finality for a transaction is achieved based on the number of confirmed valid blocks on top of the block containing a transaction. In the Polygon PoS chain, applications wait approximately 50 blocks before considering a transaction final. A reorg occurs when a validator node receives new information that shows a longer, or higher version of the chain. The chain with the highest difficulty is called the “canonical” chain. If a longer version of the chain arrives with more blocks, this is the new canonical chain, and the old one must be discarded. Reorgs may impact transaction finality and disrupt the ability of an application to be confident that their transactions are part of the canonical version of the chain. Expectation after the hardfork: By decreasing the sprint length, the hardfork will help reduce the frequency and depth of reorgs, and improve transaction finality. The change will not affect the total time or number of blocks a validator produces, so there will be no change in rewards overall. Now lets look at technical perspective: take a look at picture below (thats a weekly chart): As you can see , the price supports in 0.76 strongly with a n Engulfing candle and now it reaches to the correction area. correction lasts till 50EMA (green line) and after that will increase again. Notice that this analysis is a Long-Term analysis . So try to invest in your own strategyk. I think Polygon will be one of the best ecosystems Blochchain seen in these years. THANK YOU fo reading my idea. PLZ support me and put your opinion in comments? What do you think?
MLong
by TraderAmin-KZ
MATIC - Still Strong!💪Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. As per my last analysis (attached on the chart), we have been waiting for MATIC to approach the blue support 0.7 to look for buy setups. MATIC rejected the support, traded higher and now approaching the green resistance around 1.3 For the bulls to remain in control, and take over long-term, we need an aggressive break above 1.4 Meanwhile, we are bullish trading inside the orange channel. UNLESS , the bears kick in, which would be confirmed by breaking below the orange channel and last major low from H4, then a bearish correction would be expected. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
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by TheSignalyst
18
Bitget - Standing Strong 👌Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. While many altcoins made lower lows the past couple of months, BGB stood strong above support. BGB is stuck inside a range in the shape of a symmetrical triangle highlighted in red. For the bulls to take over medium-term , we need a break above the upper red trendline, and then above the green resistance 0.225 for the bulls to take over from a long-term perspective. In parallel, for the bears to take over, we need a break below the blue support 0.17, in this case a movement till the next support would be expected. Meanwhile, inside the symmetrical triangle range, we will be looking for short-term buy and sell setups respectively around the lower bound and upper bound. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
16
HEX Is Coming Into Strong SupportCryptocurrency HEX is one of the weakest for the least year, but from Elliott wave perspective, we can see it finishing an A-B-C corrective decline from all-time highs. Wave C is a motive wave and it should be completed by a five-wave cycle of the lower degree and you can see, it can be now trading in final stages of wave 5 of C. From technical point of view, we can see it approaching important and strong 0.03 – 0.01 support zone at the former lower degree wave 2 and higher degree wave IV, from where we can expect a bullish reversal. However, keep in mind that bulls can be activated only if we see sharp or impulsive recovery back above 0.10 region. All the best! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
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by ew-forecast
3
IMPORTANT NEXT COMING WEEKS - GZ1! - GAZPROM - WEEKLYGZ1! - GAZPROM - WEEKLY Gazprom price have at the end of last year reached its top price levels from 2007 - 2008. It seems that it probably goes down every times it reaches that point. After a long horizontally ranging price. we have seem a move up in the price. From February the price started to decrease but it stays up in the channel, recovering to it up trending price. It been few weeks that we have notices a slow down and the price is now evolving under the probable new up trending trend pictured by the green line. Coming week are pictured with a light red zone and an eye for you be able to observe while the price is evolving in the square. Probabilities are the bottom of the channel in the short direction and above the green line to keep going up in the long direction.
RUS:GZ1!Long
by Diallo_Charts_Ideas
Bitcoin - Hit of a Strong Trading Channel - 7 May 2022KRAKEN:BTCUSD in the past 3 weeks was in a really tight range of 8% and 2 days ago dropped significantly breaking the strong support at $37'500 and was stopped 24H ago on major dynamic support from W time frame. What is the supported thesis technically for the expected scenario on Bitcoin? - there are two potential scenarios one with 25% probability and one with 75% probability - If the price breaks even with $100 this yellow line - probabilities for a drop to 32K will be 75% - The MACD indicator hits low points and soon will start forming - Accumulation on bigger time frames supports the thesis that this is still a connection between major 4 and major 5 wave - Don't over-react the situation still nothing so scary If you have any questions related to this trading idea I will be happy to provide you with answers.
BITSTAMP:BTCUSDLong
by TradingTie
3
GMT new ATH near? Dear traders, GMT (green metaverse token) has repeatedly shown the strength and solidity to be able to aim very high. Since its launch, it has had a lot of progress making dizzying numbers. In my view, however, these numbers are not over yet. In fact, as can be seen from the chart, after recording a new ATH, the price has started a little correction to retest the resistance that has become support at $ 3.5. We are now facing another strong upward price action and the targets are shown in the figure. Will GMT be able to register a new ATH? We'll see :)
Long
by Acrome77
6
STRNGR/ETHstrong currecny migrated to strngr appears to be a succsesful migration to new token and the beginning of strong chain i think if strngr drops to 30$usd its around 70$ rn teh maintenance fees become too great to justify maintining nodes could be the death scenario for this project but the team and all the whales invested make me think they wont let that happen but we'll see how we go if this falling wedge breaks upwards then theres 33% on offer here to retest the .618 not bad considering the potential long term upside associated with nodes.
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by olliecoughland