Polygon has announced that it would raise its network fees due to fears of spam transactions. The move by the network was revealed to the public by its co-founder, Sandeep Nailwal in a forum post.
According to the post, the transaction fees would be raised to 30 Gwei from 1 Gwei, a difference of almost 300 percent.
In the post, the Co-founder explained that the network reached a decision to increase the fee as part of numerous efforts it is making to prevent spam transactions.
Recall that Polygon suffered a spam attack earlier in the year, though it was lucky that the consequent effects of the attacks were minimal. In the June attack, crypto enthusiasts noted that someone was repeatedly sending transitions to themselves. There was little point to this, though some speculated it was an effort to take down Iron Finance.
Analysts have predicted that the rise in fees would make it more unlikely for the network to be a victim of such incidents because it would be more difficult, as it would greatly increase the cost of carrying out spam transactions.
Polygon’s decision to raise the gas fees of its network might however draw the ire of its community who might begin to question how decentralized it is. However, the rise in fees is evidently inevitable for platforms that has witnessed an increase in use and popularity like the network has undergone recently..
Polygon has been doing well in terms of adoption and price — with its daily active users crossing that of Ethereums for the first time this month.
In fact, the networks scaling solutions have been adopted by several prominent projects, and the response has been excellent. It continues to develop new solutions and products, including a move into the NFT space.