Ethereum has just made a significant move by raising the average gas limit to nearly 32 million units, marking the first adjustment since 2021. This change comes after more than 50% #Validator consensus, without the need for a hard fork. Some experts predict this number could continue to rise to 36 million units in the future.
Increasing Gas Limit – Good News for Ethereum Users
The gas limit determines the number of transactions that can be processed in each block. Raising the gas limit brings two main benefits:
🔹 Increased transaction processing capacity: The network $ETH can handle more transactions per block, helping to reduce congestion and improve confirmation speed.
🔹 Lower transaction fees: As the number of processed transactions increases, competition to include transactions in blocks decreases, leading to lower gas fees. This is especially beneficial for DeFi and NFT users.
Pressure on Validators and the Risk of Centralization
Along with its benefits, increasing the gas limit also poses some challenges:
⚠️ Increasing block size requires validators to have stronger hardware to process.
⚠️ Pressure on decentralization, as only high-resource nodes can keep up, making the Ethereum network at risk of becoming more centralized.
Is Ethereum Losing Ground Compared to Bitcoin?
Despite improvements in technology, Ethereum is facing significant pressure in the market. The ETH/BTC ratio has dropped to 0.03 BTC, nearly 50% lower than a year ago. This is the lowest level since March 2021, indicating that Ethereum is at a disadvantage compared to Bitcoin.
However, Ethereum still has a "secret weapon" – the upgrade #pectra , expected to launch soon. Pectra will help layer-2 solutions double their performance without increasing gas fees. If successful, this could be the boost Ethereum needs to regain its position in the crypto market.
What do you think? Is increasing the gas limit really the right move for Ethereum? 🚀 #anhbacong