Polygon’s Madhugiri Upgrade Enhances Ethereum Compatibility
On December 9, the Polygon blockchain will implement a significant protocol upgrade known as the Madhugiri hard fork. This update is anticipated to boost the network’s throughput by 33% and shorten the block consensus time to just one second. Investors are especially interested in this upgrade as it introduces support for Ethereum’s latest Fusaka enhancements.
Supporting Ethereum’s New Fusaka EIPs
Krishang Shah, a core developer at Polygon, revealed that the Madhugiri hard fork will integrate three new Ethereum Improvement Proposals (EIPs) from the Fusaka upgrade: EIP-7823, EIP-7825, and EIP-7883. These proposals aim to enhance the efficiency and security of complex mathematical operations by limiting their gas usage. Shah noted that these modifications also help prevent individual transactions from consuming excessive computational resources, thereby enhancing overall network stability and predictability.
Enhancing Infrastructure for Stablecoins and RWAs
With the Madhugiri upgrade now operational, Polygon is set to fortify its infrastructure while significantly enhancing network performance. The platform aims to support high-frequency, high-trust applications, including the tokenization of real-world assets (RWAs) and stablecoins. Aishwary Gupta, the global head of payments and RWAs at Polygon Labs, has forecasted a forthcoming “stablecoin supercycle,” predicting the emergence of “at least 100,000 stablecoins” in the next five years. He stressed that this expansion must go beyond mere token issuance, insisting that each stablecoin should offer genuine utility and yield. Gupta also called for increased transparency and accountability within the RWA sector, asserting that the value of RWAs is diminished if the underlying assets lack the ability to be audited, settled, or traded. “Establishing transparency and accountability will elevate RWAs, unlocking trillions in institutional capital,” Gupta stated.
Polygon’s Market Expansion and Collaborations
Polygon has been actively broadening its market footprint, particularly through its decentralized prediction market platform, Polymarket. Additionally, financial powerhouse Mastercard has announced its selection of the Polygon Labs’ POL network to facilitate verified username-based transactions across self-custody wallets.
Disclaimer
This article is provided by Coinspeaker, which is dedicated to delivering unbiased and clear reporting. While the aim is to present accurate and timely information, it should not be construed as financial or investment advice. Given the rapid changes in market conditions, readers are encouraged to verify information independently and consult with a professional before making any financial decisions.
