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- In the coming weeks, Polygon Labs anticipates a ~20% reduction in fees due to optimizations in Polygon zkEVM.
- Users can actively optimize fees with techniques such as adjusting transaction timing to align with low-cost periods on the Ethereum network and high activity periods on Polygon zkEVM.
Anticipated Fee Reductions in Polygon zkEVM
In an exciting development, Polygon Labs is set to introduce optimizations to the Polygon zkEVM that are predicted to decrease fees by approximately 20%. These reductions are to be achieved without any data compression. However, while these optimizations are still underway, Polygon Labs provides numerous strategies that users can utilize immediately to minimize their transaction fees.
In the next few weeks, optimizations to Polygon zkEVM are expected to reduce fees by ~20%. This is without any compression.
But there are many ways users can optimize for fees today. Follow the thread for tips and tools on:
– On-chain transactions
– Bridging transactions— Polygon (Labs) (@0xPolygonLabs) May 22, 2023
Transaction fees within the Polygon zkEVM system are employed to cover the cost of data availability and posting proofs to Ethereum. For each transaction processed, Polygon zkEVM publishes state data. The fees also go towards managing the server that generates these proofs.
Fee Optimization Tips and the Role of Data Availability
Data availability forms about 80% of the fee for a transaction on the network. Currently, this data is not compressed. Polygon Labs promises updates on a roadmap for data compression enhancements and EIP-4844.
There are various methods that users on Polygon zkEVM can adopt today to optimize their transaction fees. One effective strategy revolves around timing. Given that a significant part of a transaction fee is attributed to interactions with the Layer 1 Ethereum network, users can time their transactions to coincide with periods when Ethereum fees are at their lowest.
Counterintuitively, another timing tip suggests waiting for times when network activity on Polygon zkEVM is high. As the network activity surges, fees on a rollup decrease. This is attributed to the fact that the cost of proof generation is spread out across all transactions, reducing the cost per transaction.
This relationship between transaction fees and daily transaction volume is well-illustrated by an inverse graph shared by Polygon Labs.
Polygon Labs continues to offer tools and tips to aid users in optimizing their transactions, demonstrating their commitment to providing an efficient and cost-effective platform for their users. The impending enhancements to the Polygon zkEVM, coupled with user-empowering advice, reinforce Polygon’s position as a dynamic force in the crypto space.