Nearly half of the validators support raising Ethereum's gas limit to 45 million to improve transaction processing capacity.
Increasing the gas limit on Layer 1 helps raise transaction throughput while combining with new technical improvements to keep network expansion safe and efficient.
MAIN CONTENT
About 48% of Ethereum validators support raising the gas limit to 45 million.
The gas limit has now increased to over 39 million, the highest in 3 years.
Geth improvements reduce the storage capacity of pruning nodes by 90%, aiding safe expansion.
Who are the Ethereum validators supporting the increase in the gas limit?
According to a report from The Block on July 21, nearly 50% of validators participating in staking on Ethereum agree to increase the maximum gas limit per block. This move stems from a desire to enhance scalability to meet the growing transaction demands on Layer 1.
On the gaslimit.pics platform, about 48% of clients running staking nodes have targeted a gas limit of 45 million or higher, reflecting strong consensus from the technical community.
Current gas limit and the latest changes on Ethereum
On Sunday afternoon, several blocks proposed raising the gas limit to over 39 million units, an increase of about 8% from the previous 36 million. This is the first adjustment in 3 years, changing from 30 million to a higher limit.
Increasing the gas limit means that each block can handle more transactions, improving the performance of the Ethereum Blockchain.
Why should the gas limit be increased and what are the associated risks?
Campaign representatives for increasing the gas limit warn that if it rises too high, it will make the Blockchain larger, making it difficult for individual nodes to load and verify data. However, technological advancements allow for a gradual increase in limits, in line with growing processing capabilities.
According to the automatic mechanism on Ethereum, when validators want to increase the limit, the new block can adjust the maximum limit by about 0.1% compared to the gas of the previous block, helping control growth.
"Nearly 50% of staking shares have voted to increase the Layer 1 gas limit to 45 million. Additionally, the new Geth update reduces approximately 90% of the storage capacity of pruning nodes, making network expansion safer and more feasible."
Vitalik Buterin, Co-founder of Ethereum, post on X, July 2024
How does the improvement of Geth play a role in increasing the gas limit?
The recent Geth update has reduced the necessary storage by up to 90% for archive pruning nodes, marking an important step in supporting the Ethereum network to expand the gas limit while ensuring stable operations.
This is seen as the "hard work of the Geth team," ensuring that increasing the gas limit does not negatively affect the operation and maintenance of the network.
What are the impacts of increasing the gas limit on the Ethereum ecosystem?
When the gas limit increases, Ethereum can handle larger transaction volumes, reducing congestion and high gas fees. This contributes to enhancing user experience and promoting the development of DApps running on the network.
However, this also puts significant pressure on operating nodes, requiring better hardware and bandwidth, posing challenges for individuals involved in maintaining the network.
Frequently Asked Questions
What is the gas limit and why is it important?
The gas limit is the maximum gas consumed per block, limiting transaction processing capacity. Raising the limit helps increase throughput to meet higher transaction demands.
Who decides on increasing the gas limit on Ethereum?
Validators representing the majority of staked Ethereum vote and propose to raise the gas limit. A consensus of 48-50% is a strong signal to expand.
What impact does increasing the gas limit have on individual nodes?
Increasing the gas limit may make the blockchain size larger, leading to higher hardware requirements and longer loading times for individual nodes to check data.
How does the Geth update affect raising the gas limit?
The Geth update reduces storage capacity for pruning nodes by 90%, making increasing the gas limit more feasible without compromising network operational efficiency.
How does increasing the gas limit affect transaction fees?
Increasing the gas limit typically helps reduce congestion, thereby lowering gas fees during peak times, but does not always directly reduce fees.
Source: https://tintucbitcoin.com/ethereum-tang-gas-vitalik-uu-tien-an-toan/
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