Vitalik Buterin is considering increasing the Ethereum gas limit

Ethereum is considered the second largest blockchain in the world. It enables the creation and execution of dApps through smart contracts. However, to use these contracts, one must pay network fees, known as gas. These fees vary depending on the demand and complexity of the operations. Gas is measured in gwei, a fraction of ether (ETH), Ethereum’s native cryptocurrency.

During a Reddit AMA on Jan. 10, Vitalik Buterin advocated for an increase to the Ethereum gas limit, noting there hasn’t been one for nearly three years. https://t.co/F7OG2cozmV

— Cointelegraph (@Cointelegraph) January 11, 2024

What is the Gas Limit?

The gas limit refers to the maximum amount of gas that validators agree to spend on processing transactions and smart contracts within each Ethereum block. Validators are these individuals who produce the blocks of the blockchain.

The gas limit ensures two things:

• blocks are not too large;
• they do not slow down the Ethereum network.

The higher the gas limit, the greater the number of transactions and smart contracts per block, which increases throughput and the capacity of the Ethereum network. This also implies a greater load on the validators’ hardware and a higher risk of spam and attacks.

Why Increase Ethereum’s Gas Limit?

During an Ask-Me-Anything (AMA) on Reddit on January 10, 2024, Ethereum’s co-founder suggested increasing the gas limit by 33%. It would therefore go from 30 million to 40 million gas per block.

Vitalik Buterin made this proposal in response to a question about the scalability of Ethereum. It is one of the main challenges of the protocol. According to Buterin, this increase could improve the throughput and the capacity of the network. These have not changed for nearly 3 years, the longest period in Ethereum’s history.

It could also reduce pressure on the network and provide more space for transactions and smart contracts. However, he does note that it would be a temporary measure, pending the full deployment of the Ethereum 2.0 update.

The Ethereum blockchain finds itself at a crossroads today, between innovation and adaptation. The upcoming decision will influence its operation and its future.