Vitalik Buterin Advocates for Modest Gas Limit Increase in Ethereum Network

cryptonews.com:

Ethereum co-founder Vitalik Buterin has recommended a “modest” increase in the gas limit to enhance the potential throughput of the Ethereum network. During a Reddit ask-me-anything (AMA) organized by the Ethereum Foundation’s research team, Buterin emphasized that the gas limit has not been raised for nearly three years, marking the longest duration without an increase in the protocol’s history.

In response to a question during the AMA, Buterin expressed his view, stating, “Honestly, I think doing a modest gas limit increase even today is reasonable.” He highlighted the historical context, noting that the last increase occurred around late 2021 with the implementation of EIP-1559, which effectively doubled the gas limit but resulted in only a roughly 9% increase in actual average usage.

Buterin went on to propose a potential gas limit of around 40 million, suggesting a 33% increase from the current 30 million gas limit reported by Etherscan. He explained that allocating the gains from Moore’s law post-2021 between increased capacity and enhanced ease of syncing and verification would justify such an increase.

The Ethereum gas limit, a crucial parameter that influences the network’s capacity for processing transactions and executing smart contracts, has evolved. Buterin’s suggestion aims to strike a balance between accommodating the growing demand on the Ethereum network and ensuring efficient syncing and verification processes.

As Ethereum continues to advance and undergo network upgrades, decisions regarding parameters like the gas limit play a crucial role in maintaining a healthy and scalable blockchain ecosystem. The proposal for a modest increase aligns with ongoing efforts to optimize Ethereum’s performance