Vitalik Buterin proposes a 33% gas limit increase for Ethereum

The co-founder of ethereum, Vitalik Buterin, recently proposed increasing the gas limit by 33%. This, he said, could significantly improve the network’s throughput and its ability to process transactions.

Vitalik Buterin and Ethereum limit increase

Vitalik Buterin, one of the key figures associated with the second largest cryptocurrency in the world, presented a proposal to increase the gas limit (gas limit), which is an important component of the operation of the Ethereum network. The new proposal, which he presented during an Ask Me Anything event hosted by the Ethereum Foundation team, aims to improve the overall performance and capacity of the network by allowing more transactions to be processed in each block. In a post on Reddit, Vitalik Buterin said:

I think a slight increase in the gas limit is still reasonable today.

The gas limit on the Ethereum network , currently set at 30 million units, has not been increased for nearly three years, the longest period in the protocol’s history. Buterin proposes to increase this limit to 40 million, which is an increase of 33%. Buterin considers this move reasonable and necessary given the growing use and adoption of the ethereum network.

Increasing the gas limit will allow more transactions to be included in each block, which theoretically increases the overall throughput and capacity of the network. However, it also increases the load on the hardware and the potential risk of spam and network attacks. Buterin’s proposal comes as Ethereum continues its development and growth.

The average gas limit in 2015 was around 3 million, which gradually increased in line with the increasing usage and acceptance of the network. In April 2021, the network saw a significant milestone when miners increased the limit from 12.5 million to 15 million. The main goal of this change was to address the network congestion that arose as a result of the sharp increase in the price of the cryptocurrency . Thanks to this modification, the gas limit was increased and permanently kept at 30 million.

At the time of writing, the price of BTC is around 46,449 USD according to KMC , the price of ETH is around 2,599 USD.

Conclusion

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