“Ethereum network adjustment accelerates! 10% of validators decide to raise the gas limit, what market response will it bring?”
The Ethereum community is uniting its efforts to push for an increase in the network's gas limit. Recently, the proportion of Ethereum validators supporting the increase in the gas limit has surpassed 10% for the first time, a significant increase compared to the 1% at the beginning of December. This change stems from the advocacy of community members, aiming to raise the gas limit to 36 million, thereby improving network efficiency and reducing transaction costs.
In December, with the involvement of Ethereum researchers, the relevant proposal received further support. Ethereum core developer Eric Connor and former MakerDAO smart contract head Mariano Conti had previously suggested that raising the gas limit to 40 million would help reduce transaction costs by 15% to 33%. Nevertheless, 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 may lead to unforeseen consequences.
However, supporters such as Emmanuel Awosika, creative director of 2077 Collective, stated that this reform is crucial for developers, as the current gas limits hinder the smooth deployment of high-demand applications. Increasing the gas limit can showcase the Ethereum network's availability 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 an in-depth exploration of every change in the crypto world!
