e₹-R, Indian CBDC expected to achieve 50,000 users and more..
Subtle Bits of Crypto - Week 2 Jan, 2023
CBDC-R is Expected to achieve 50,000 Users by Month-end
Reserve Bank of India’s digital currency (CBDC-R or e₹-R) expects an increase in userbase to 50000 by the end of this month.
The pilot project for e₹-R was launched by the RBI on December 1st, 2022.
Currently, the userbase is at 16000 users for the retail pilot and conducted transactions worth ₹64 lahks.
Users can buy with e₹-R through a digital wallet offered by the participating banks.
Polygons’ hard fork to reduce gas fees
The hard fork will not affect how users interact with Polygon or its decentralized applications.
All Polygon PoS node operators must upgrade to Bor before the Jan. 17 upgrade.
Polygon gas spike reduction
The proposal is designed to reduce these gas spikes by changing the BaseFeeChangeDenominator to 16 from 8, dropping base gas fees to 6.25% from 12.5%.
This will improve the rate at which the base fee increases or decreases when the gas fee is higher or lower than the target gas limits for a block.
Chain reorganization
The hard fork fixes chain reorganization (reorgs) by decreasing sprint length to 16 blocks from 64.
This will significantly reduce the time a block producer can continuously produce blocks and the depth of reorgs.
This hard fork upgrade shortens a single block producer’s production time from the current 128 seconds to just 32 seconds by reducing the sprint length from 64 to 16 blocks.
It is expected to reduce the depth and frequency of reorgs, thereby improving transaction finality.