Polygon reduces production time to 1.75 seconds
Blockchain Layer-2 (L2) network Polygon has reduced its average block time by 250 milliseconds to 1.75 seconds, marking the first block time reduction since Genesis.
Polygoncan shows that the most recent blocks on the network were generated in 1.75 seconds. The upgrade means Polygon can process 14% more payments per second, bringing the maximum theoretical rate to 3,260 transactions per second (TPS), according to Polygon software engineer Luca Martins.
Shorter block times help clear transaction records faster, reducing network congestion time and subsequent transaction fee increases, which is especially important for high-frequency usage such as payments, stoichiometric or decentralized finance (DeFi) transactions.
The update comes as Polygon strives to offer more institutional adoption-oriented features such as private stablecoin payments. On Tuesday, Polygon introduced a new wallet feature that allows users to privately make stablecoin transactions in a gated pool verified by zero-knowledge proofs.
The update is part of Polygon's update proposal PIP-86, a two-step move to further reduce block time to 1.5 seconds and lower checkpoint rewards to keep Polygon (POL) token emissions at 1% after blocking.
Polygon blockchain browsing, latest blocks, production time. Source: Polygoncan
Cointelegraph reached out to Polygon for comment on its block-time reduction plans, but did not receive a response by press time.
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Polygon is targeting private stablecoin payments for board institutions.
Polygon's new wallet feature hides senders, receivers and amounts on-chain as part of its mission to onboard Know Your Transaction (KYT) filtering and auditable files.
According to Polygon community leader Smokey, the feature introduces more privacy for businesses trading with statscoins.
Despite the update, the Polygon (POL) token has remained stagnant for the past 24 hours, trading at $0.09 as of press time. The token has fallen 54% in the past year, CoinMarketCap data shows.
POL/USD, one year chart. Source: CoinMarketCap
Polygon is integrated with major credit card providers. On April 29, global payments giant Visa expanded its stablecoin pilot to include support for Polygon Base, Canton Network, Arc and Tempo.
In the year The pilot, launched by Visa in 2023, will allow partners to settle transactions through stablecoins instead of traditional banking channels, to assess whether the stablecoin can provide faster settlement.
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