
Polygon Surges 10% Ahead of Heimdall V2 Upgrade
In a remarkable turn of events, Polygon’s native token, MATIC, has surged by a staggering 10% in the past 24 hours. This unprecedented growth comes as the network is poised to undergo a major consensus upgrade with its highly anticipated Heimdall v2 release.
The upgrade, set to go live on July 10, promises significant performance gains for Polygon’s validator management system and improved syncing between Ethereum and Polygon’s Proof-of-Stake (PoS) network. According to reports, the new architecture will see finality times drop from an initial 90 seconds to a remarkably fast 4-6 seconds. This is in addition to block times shrinking from roughly 5-6 seconds to just around 2 seconds.
Polygon’s co-founder, Sandeep Nailwal, emphasized that this upgrade eliminates technical debt incurred by the network’s earlier build, based on outdated frameworks from 2018 and 2019. With the Heimdall v2 launch, Polygon aims to unlock faster checkpoint times and enhance security during the migration phase. Additionally, the company warns users to prepare for a temporary three-hour delay in checkpoint finality during the transition.
Notably, Nailwal highlighted that this hardfork has set the tone for accelerating capacity growth on the network, allowing money flow even faster on Polygon, thereby empowering support for the next wave of on-chain payments and real-world asset strategies.
Source: cryptoslate.com