Gas fees for transactions on Polygon’s proof-of-stake chain skyrocketed to more than $0.10 or 5,000 gwei on Thursday—rising sharply as the Ethereum scaling solution weathered an apparent influx of inscriptions-related, PRC-20 activity.

As of this writing, Polygon gas fees had plummeted back down to around 270 gwei, according to livdir.com’s Polygon Gas Price Chart. However, before the steep drop, Polygon gas fees had increased 1,000% compared to the same time a day ago, when transactions cost 477 gwei.

“Watch out for that mass adoption incoming, LOL,” a Reddit user named DingDongWhoDis quipped, as several other community members tried to assess the influx of activity.

Gas fees quantify the computational power required to make a transaction on Polygon’s network—1 gwei is equivalent to 0.000000001 MATIC. Several transactions that occurred on Thursday while gas fees were elevated contained JSON text as input data, which resembles text-based inscriptions associated with BRC-20 tokens on Bitcoin.

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Author: André Beganski

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