Polygon network would be raising its network fees from one Gwei to 30 Gwei in an attempt to curb spam transactions on its ecosystem. This was revealed by the co-founder of the network, Sandeep Nailwal, in a forum post.
Polygon transaction fees now 30 Gwei
With the rise in its adoption, the network could be more susceptible to spam transactions which could have a debilitating effect on its users in the long run. Already, Polygon has experienced one such spam attack in July of this year when one trader was spotted sending himself 0 Matic repeatedly while expending minimal amounts of gas.
By raising the gas fees for each transaction, cases of the aforementioned spam attack would become much more difficult. However, members of the Polygon community might begin to question how “decentralized” the network is after its team of developers arbitrarily raised the gas fees.
It is important to note that Polygon’s transaction fee was going to inadvertently rise especially as the network is beginning to enjoy a massive adoption from the wider crypto community who depend on it for its scaling solution as well as its cheap transaction fees.
Earlier in the week, the number of active users on its platform usurped that of Ethereum for the first — an indication that it is becoming more popular amongst the crypto community.
Polygon enters NFT space
Polygon is the latest crypto blockchain to dabble into the growing non-fungible sector space. Considering the level of success it has seen in its gaming community, the network launched a new department, Polygon Studios, which would be saddled with positioning the ecosystem as the go-to platform for developers on Web 3.
On October 4, Polygon announced that the popular NFT marketplace, OpenSea, had integrated its PoS into its system with the goal of “providing users with faster and cheaper transactions.”
“There were 272,357 active traders on OPENSEA on Polygon in September, according to Dune Analytics. About 838,000 NFTs were sold on OpenSea on Polygon in September. Small-time purchases make OpenSea on Polygon highly successful. A majority of OpenSea purchases were for less than $100, accounting for 77 percent of transactions for Polygon on OpenSea,” the statement reads in part.
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