The “Father” of Ethereum proposes to increase the network’s gas fee limit

[ad_1]

In addition to the benefits, the proposal to increase the gas fee limit also has many disadvantages for the Ethereum network.

Recently, Vitalik Buterin proposed Increase the maximum Gas limit in an Ethereum block by 33% (equivalent to increasing the limit from 30 million Gas to 40 million Gas).

The proposal would essentially expand the block size limit on Ethereum, which could help include more transactions while also reducing gas fees on the network.

However, in addition to its advantages, this proposal also has many disadvantages for the network. Specifically, Ethereum will face the risk of spam transactions, affecting the stability of network transaction fees.

Vitalik Buterin’s proposal has been met with mixed reactions from the community. Some people believe that this is a necessary proposal to pull activities from Layer2 back to Layer1.

“Ethereum’s settlement layer is a bit of a middle ground. They are considering whether to pull operations back to Layer 1 (by increasing gas fee limits, diversifying clients, stateless…) or move all operations out of Layer 1 (lower gas fees, longer block times, and Celestia-style integration).”

In my opinion, the Ethereum execution layer has always been in a strange middle ground, which should be:

– Work on making it better, increasing gas, more client-side optimization work, stateless, etc., or

– Get everyone off L1, low oil, 30 seconds longer block time, etc., Celestia style

— Jon Charbonneau (@jon_charb) January 10, 2024

However, some opinions confirm that the proposal to expand this block limit will be a beneficial step for all parties.

I strongly support increasing @Ethereum Gas limit is 40-45m – we own cyberspace and it’s good for all parties https://t.co/GQb8SbavAY

— Jesse Pollak (jesse.xyz) 🛡️ (@jessepollak) January 10, 2024

Looking back, the last time the Ethereum network increased the Gas limit within a block was in August 2021, coinciding with the implementation of the EIP-1556 upgrade.

Gas limit chart from July 2015 to January 2024.

In addition to the proposal to increase the gas fee limit, Vitalik Buterin has also proposed many new proposals before (at the end of 2023 and early 2024) and has continuously shared his views on the market and direction of Ethereum in 2024.

VIC encryption compilation

related news:

Revealing the SocialFi segment “promoted” by Vitalik Buterin