Vitalik Buterin, one of the co-founders of Ethereum, proposes to increase the maximum gas limit in the network's blocks by 33%. This change would contribute to increasing the throughput of the second most popular cryptocurrency.
Ethereum has a set gas limit for each block, which restricts the maximum transaction fees in each block and the number of transactions that can be processed in a block. Vitalik Buterin believes it's time to raise the gas limit in Ethereum blocks. Currently, this limit is set at 30 million gas, and Buterin proposes to increase it to 40 million gas, representing a 33% increase.
At the launch of Ethereum, the gas limit in a block was only 3 million, but its level has been increased several times. The last change in the limit happened almost three years ago.
Increasing the gas limit contributes to an increase in the number of transactions in each block and, consequently, increases the network's throughput. However, this step also puts additional pressure on hardware and data transmission networks.
At the end of last year, Vitalik Buterin presented several options for simplifying the Ethereum consensus algorithm.
