Ethereum News Today: Ethereum Raises Gas Limit by 10.3% to 37.3 Million Units

Ethereum has recently enhanced its network capacity by raising the gas limit to 37.3 million units. This increase, announced by co-founder Vitalik Buterin, is a significant milestone for the blockchain network. The gas limit determines the maximum amount of computational effort that can be spent on a block, and raising it allows for more transactions or smart contracts to be processed per block, thereby enhancing network efficiency and capacity.

The increase in the gas limit is part of a broader effort to improve the network's scalability and reduce transaction fees, which have been persistent issues for users. The Ethereum protocol allows for approximately a 0.1% increase in the gas limit with each new block, depending on the signals from validators and the configuration of their client software. Recent data show that validators supporting the 45 million unit cap automatically push the limit higher with every proposed block. Buterin noted that about 50% of the Ether staked supports clients aiming to raise the limit to 45 million units, indicating a strong consensus on the need for enhanced network capacity.

However, the increase in the gas limit has raised concerns among some experts regarding decentralization and sustainability. The increased gas limit adds processing load to servers that must be operated, which could lead to prohibitive costs and technical demands for small node operators. Some network users believe that the decentralized nature of the network might be compromised as a result.

To address these concerns, significant updates in Ethereum clients have been reported to handle the rising transaction volume. Buterin highlighted the 1.16.0 version of the Geth client as an important advancement, reducing the archive node size from approximately 20 terabytes to 1.9 terabytes, making it feasible for smaller operators to support the network. Ethereum developer Marius Van Der Wijden summarized these updates, stating that the Geth v.1.16.0 version now occupies about 1.9TB and allows access to past block balances, although cryptographic verifications for past blocks are not yet supported.

Ethereum’s capacity expansion is part of a comprehensive upgrade roadmap aimed at maintaining decentralization, participant diversity, and network security. The technical updates to clients and the increased validator support aim to offer greater scalability and new application opportunities on the chain. In the future, if the proportion of validators supporting further gas limit increases rises, Ethereum is expected to challenge the 45 million gas limit threshold. This development can be seen as the beginning of a new era in growth and scalability for the network.

Raising the gas limit in the Ethereum network marks an important phase concerning validator support, innovations in client software, and the overall network roadmap. While increasing the gas limit boosts transaction capacity, it also highlights issues concerning the sustainability of small node operators and decentralization. Current client updates may facilitate diversity and sustainability in network participation. Alongside gas limit targets, ongoing technical and community-based changes contribute to Ethereum’s long-term growth.