Ethereum Gas limit significantly increased! Transaction fees may plummet by 30%!
The future of Ethereum is on fire! As more and more validators join the ranks of those supporting the "increase Gas limit", Ethereum's network is facing a major adjustment. According to the latest data, the proportion of validators supporting the increase in Gas limit has skyrocketed to 10%, a remarkable leap from 1% at the beginning of December. You read that right, the Gas limit once broke 30 million, and all of this is moving towards a higher target — 36 million, or even higher!
Why increase the Gas limit?
Ethereum core developers Eric Connor and former smart contract lead at MakerDAO Mariano Conti have been advocating for this issue, believing that increasing the Gas limit can reduce transaction fees by 15% to 33%, which is undoubtedly an important optimization for Ethereum's high-demand applications. Meanwhile, Emmanuel Awosika, the creative director of 2077 Collective, also stated that increasing the Gas limit is an important signal to attract developers, especially when high-demand applications require a lot of computation, the current Gas limit can no longer support it.
But what are the hidden risks behind this?
Although the benefits of raising the Gas limit are obvious, there are also many warnings. Toni Wahrstätter from the Ethereum Foundation stated that raising it too quickly could pose a serious threat to the stability and security of the network. The “Pump The Gas” website itself also admitted that if the Gas limit is too high, it could prevent individual node operators from verifying data, affecting the goal of decentralization. Therefore, while increasing the Gas limit is part of technological advancement, it needs to be pursued cautiously to avoid the risk of “over-expansion” of the network.
This increase in the Gas limit, while it may bring lower transaction fees and excitement for developers in the short term, in the long run, how to optimize performance while ensuring the decentralization of the network will be a challenge that the Ethereum community must address. For investors and developers, closely monitoring this change and adjusting strategies in a timely manner is undoubtedly key to seizing future opportunities!
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