Polygon believes the increased fee of 30 Gwei would make Spam Transactions expensive and unfavourable. Users have expressed dissatisfaction about the sudden announcement.
In a post on its forum on Tuesday, layer-2 scaling solution Polygon announced that it has raised the base network fees from 1 Gwei to 30 Gwei in a bid to curb Spam Transactions. This is a 3000% rise from 1 Gwei.
Cheap Transactions and Spam Attacks
Polygon’s cheap transaction costs have made it a hot favourite of many projects and users.
But the same quality has made it susceptible to Spam Transaction attacks. These attacks congest the network, preventing others from using the network. Moreover, they increase the transaction fee as miners start prioritizing the transactions with a higher fee.
That’s why the project thought of increasing the base transaction fee. As a result, the cost of perpetrating a Spam Transaction attack will increase manifold; it would act as a deterrent.
The post also mentioned that the validators can decide their own minimum fee as per their discretion. “As it is a client level configuration, you (validators) are free to run your node with old/different settings as per your wish.”
The decision did not go down well with many users.
One user expressed discontentment by calling the network “centralized”.
Another said, “I’m really interested in knowing how consensus is reached on these decisions, certainly feels like a DAO needs to be in place.”
Others called the company out for increasing the fee without any notification about the exact date and time for the update.
Most of the criticism targeted the suddenness of the decision and obviously the fee increase.
It would be interesting to see how the community receives the change in the longer term. Will the network effects outweigh the ‘costs’ ?
News recommendation: MoneyGram Partners with Steller and USDC After Ending its Association with Ripple