Polygon, the popular Layer 2 blockchain platform, is scheduled for a major network upgrade this week—dubbed the Bhilai Hard Fork—with crypto exchange Binance announcing temporary service suspensions in support of the update. According to a June 30 notice, Binance will pause deposits and withdrawals via the Polygon network on July 1 at 16:10 ET, one hour before the hard fork activates at block height 73,440,256.

The Bhilai Hard Fork is aimed at upgrading Polygon’s Bor nodes, which are critical to transaction processing and network security. The new Bor version (v2.1.1) introduces significant performance improvements, including support for PIP-60, a core protocol enhancement. Despite the temporary service suspension, Binance has confirmed that trading of Polygon-based tokens will continue without disruption.

Binance assured users that it will manage all technical aspects of the upgrade internally, and no user action is required. However, the exchange strongly advised users to complete all POL token deposits and withdrawals ahead of time, as these services will only resume once the network is declared stable. Binance also clarified that no separate notice will be issued for the resumption, urging users to monitor the network's status closely.

Polygon co-founder and CEO Sandeep Nailwal noted that the upgrade is expected to increase the network's throughput to 1,000 transactions per second (TPS), with finality times of under five seconds. An even more powerful follow-up upgrade is planned for October, which could push the performance to 5,000 TPS with one-second finality, marking a major leap forward in blockchain scalability.

Validators running Bor nodes are required to update their software and adjust key configurations, including raising the gas limit to 45 million, to remain in sync with the network’s changes. These updates are essential for maintaining node compatibility and ensuring the smooth implementation of the hard fork.

This upgrade is a cornerstone of Polygon's long-term scalability roadmap, supporting its shift toward the new POL token standard. This transition aims to enhance the platform’s performance and governance, benefiting both developers and users in the evolving Web3 ecosystem.