Ethereum: Vitalik Buterin Considers 33% Gas Limit Increase

Ethereum: Vitalik Buterin Considers 33% Gas Limit Increase

Vitalik Buterin, co-founder of Ethereum, remains extremely involved in the development of the protocol. In the latest AMA conducted with the Ethereum Foundation, Buterin discussed the possibility of increasing the gas limit on Ethereum.

To increase the gas limit by 33%?

On January 10, Ethereum Foundation accompanied by Vitalik Buterin they did a AMA (Ask Me Anything) on Reddit. On this occasion, internet users could ask their questions about the future and functioning of Ethereum.

Regarding the issue of fees, Vitalik Buterin said he was in favor of a “slight increase” in the gas limit. In fact, it’s been almost 3 years since it was raised.

Vitalik Buterin says he is in favor of increasing the gas limit on Ethereum

“I honestly think it’s reasonable to slightly increase the gas limit even today. The gas cap has not been increased for almost three years, the longest period ever in the history of the protocol (this 2x increase in the graph at the end of 2021 is “fake” because it reflects the transition of EIP-1559, which increased the “cap” by 2x, but only increased the actual average utilization by ~9%). »

According to the calculations made, Buterin estimates that we could cross the threshold of 30 to 40 million pieces. This would represent an increase of 33%. Such an increase should not negatively affect the network or its validators.

Gas limit: what is it?

Gas limit is a core component of Ethereum. Actually it is the maximum amount of gas that can be spent performing all transactions and smart contracts in a block.

This limit makes it possible to ensure that blocks are not too large and can be processed correctly by all nodes in the network. Thus, blocks that are too large could negatively affect the network and hardware requirements for running a node.

Further a a slight increase in the gas limit would improve Ethereum’s performance. In effect, this would allow multiple transactions or smart contract executions to be placed in each block.

However, this solution is only temporary. In fact, since the universe hates a vacuum, the space added in each block will quickly be filled by network users. However, we still saw slight declines in fees with previous increases in this limit. Regardless, the community will need to agree first before this limit is increased.

from his side, ETH seems to be coming back from the dead by crossing the $2,400 mark. This increase can be explained by the attitude of many traders in anticipation of a potential Ethereum ETF after the adoption of Bitcoin ETFs.

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