Introduction

In this dashboard, we examine the changes made to the Polygon network after the hard fork mentioned in the question. By comparing different network metrics before and after the hard fork, we want to see if this hard fork has improved the network's performance or not.

The content of this dashboard can be divided into the following sections:

1. Examination of the hard fork performed
2. Examination of various network metrics in general
3. More detailed examination of metrics in smaller time intervals

To perform this dashboard, we have used Flipside data, specifically the Polygon scheme.

  About the Hard Fork

Polygon is a project that aims to improve the efficiency of the Ethereum network by increasing transaction processing speed and reducing fees. On Tuesday at 10:45 UTC, Polygon successfully executed a hard fork, a software upgrade that introduces significant changes to the network's protocol. The upgrade was designed to address two issues: spiking gas fees and disruptive chain reorganizations, also known as "reorgs".

Polygon Labs, the leading company behind the Polygon project, confirmed the successful upgrade in a tweet. The upgrade included two proposals that were initially put forth in December. The first proposal involved modifying the mechanism that sets gas fees, which is the fee paid to transact on a blockchain. The new mechanism aims to maintain lower gas prices during high network activity to prevent spiking fees.

The second proposal aimed to reduce the time required to complete a data block, which is a part of the blockchain. This is a significant step in preventing frequent reorgs, which occur when a validator node receives new information that temporarily creates a new version of the blockchain. This can cause significant disruptions to the network's operations, so the upgrade aims to prevent such disruptions.

Although only 15 out of the limited number of 100 active validators participated in the voting process, the upgrade was still approved by a significant 87% of participating Polygon validator teams. This success is expected to further increase the adoption of the Polygon network, which is already experiencing substantial growth due to its efficiency and cost-effectiveness.

Question

ETH-scaling project Polygon completed a hard fork last month in hopes of reducing gas fees, as well as disruptive chain reorganizations known as "reorgs,” according to Coindesk. Let’s dive into the network’s health and performance leading up to and since the hard fork.

Has the software upgrade led to lower gas fees as hoped? Have these changes affected any meaningful user metrics, such as volume, activity, monthly active users, or others?