Ethereum developers have launched an initiative to increase the blockchain’s gas limit, arguing that the change can be used to help scale Ethereum. On March 20, 2024, Ethereum lead developer Eric Connor and former MakerDAO smart contracts manager Mariano Conti unveiled a new website called “pump the gas” to increase Ethereum’s gas limit from 30 million to 40 million, which should reduce transaction fees on layer 1.
An effort to scale Ethereum
Connor said in a post on X on March 19 that the increase in the gas limit may result in a 15% to 33% reduction in transaction fees on layer 1. The initiative has already begun to win support from Ethereum users, DeFi investors and staking pools.
A long-term change
Changing Ethereum’s gas limit isn’t a decision made in haste. In January 2024, Ethereum co-founder Vitalik Buterin proposed increasing the gas limit to 40 million gas units, representing a 33% increase over the current limit of 30 million.
A process with no major repercussions
Increasing the gas limit would not require a major update or fork of the Ethereum core source code. Validators operating the blockchain should be able to implement the change by adjusting certain parameters in their node software.
Outlook for the future
This initiative to increase Ethereum’s gas limit is an important step towards more efficient scaling of the blockchain. By increasing transaction processing capacity, Ethereum could better meet the growing needs of users and decentralized applications.
Conclusion
Leading Ethereum developers have launched an initiative to increase the blockchain’s gas limit, arguing that the change can help scale Ethereum. Increasing the gas limit to 40 million gas units could reduce transaction fees on layer 1 and offer a better user experience.
