The most common shape today is hexagonal, for similar reasons as the bolt head: six sides give a good granularity of angles for a tool to approach from (good in tight spots), but more (and smaller) corners would be vulnerable to being rounded off. It takes only one sixth of a rotation to obtain the next side of the hexagon and grip is optimal. However, polygons with more than six sides do not give the requisite grip and polygons with fewer than six sides take more time to be given a complete rotation.
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