“Ethereum Network Adjustment Accelerates! What Market Reactions Will Occur After 10% of Validators Decide to Raise Gas Limit?”
The Ethereum community is uniting to push for an increase in the network's gas limit. Recently, the proportion of Ethereum validators supporting the increase in gas limit has surpassed 10% for the first time, a significant increase compared to 1% in early December. This change stems from the advocacy of community members, aiming to raise the gas limit to 36 million, thereby enhancing network efficiency and reducing transaction costs.
In December, with the involvement of Ethereum researchers, the related proposal gained further support. Ethereum core developer Eric Connor and former MakerDAO smart contract lead Mariano Conti had previously proposed that raising the gas limit to 40 million would help reduce transaction fees by 15% to 33%. However, the decision to raise the gas limit is not without risks. Toni Wahrstätter from the Ethereum Foundation warned that excessively raising the gas limit could affect network stability and security, and rapid adjustments might lead to unforeseen consequences.
Nevertheless, supporters like Emmanuel Awosika, Creative Director of 2077 Collective, argue that this reform is crucial for developers, as the current gas limit hinders the smooth deployment of high-demand applications. Increasing the gas limit can demonstrate the Ethereum network's usability and potential for developers, especially in light of the growth of high-demand applications and projects.
The future of Ethereum is filled with challenges and opportunities. The balance between community advocacy and caution regarding this initiative will determine the direction of network development. Follow Mr. Qiu for in-depth discussions about every change in the crypto world!
