Polygon’s Layer 2 (L2) blockchain network reduced average block time by 250 milliseconds to 1.75 seconds, representing the first block time reduction since inception as the network moves deeper into the stablecoin payment and settlement infrastructure.
Polygonscan shows the latest blocks on the Internet were created in 1.75 seconds. The upgrade means Polygon can process approximately 14% more payments per second, reaching a maximum theoretical throughput of approximately 3,260 transactions per second (TPS), According to to Polygon software engineer Lucca Martins.
Faster block times can assist clear transaction backlogs more quickly, reducing the duration of network congestion and subsequent spikes in transaction fees, which is especially critical for high-frequency applications such as payments, stablecoins, or decentralized finance (DeFi) trading.
The update comes as Polygon makes efforts to adapt to exploit cases targeting more institutional adoption, such as private stablecoin payments. Polygon on Tuesday introduced a up-to-date wallet feature that allows users to privately route stablecoin transactions through a protected pool verified by zero-knowledge proofs.
The update is part of a proposal to improve the polygon PIP-86a two-step move that aims to further reduce block time to 1.5 seconds and reduce checkpoint rewards to keep Polygon (POL) token issuance at the target of 1% after block time reduction.
Polygon blockchain explorer, latest blocks, production time. source: Polygonscan
Cointelegraph reached out to Polygon for comment on its plans to reduce block times, but did not receive a response via publication.
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Polygon focuses on private stablecoin payments to on-board institutions
Polygon’s up-to-date wallet feature aims to attract more institutional users as it hides senders, recipients and amounts in the transaction chain while maintaining compliance by checking and controlling Know Your Transaction (KYT) files.
This feature provides greater privacy for companies transacting with stablecoins, According to to Polygon community leader Smokey.
Despite the update, the Polygon (POL) token has remained stagnant for the past 24 hours and is trading at $0.09 at the time of writing. Over the past year, the token has fallen by 54%, CoinMarketCap data can be seen.
POL/USD, annual chart. Source: CoinMarketCap
Polygon has also integrated with major credit card providers. On April 29, global payments giant Visa expanded its stablecoin pilot program to support Polygon, Base, Canton Network, Arc, and Tempo.
Launched by Visa in 2023, the pilot allows partners to settle transactions using stablecoins instead of conventional banking platforms to assess whether stablecoins can provide faster settlements.
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