Ethereum Boosts Transaction Capacity by 20% with Major Network Update

Ethereum, the world's second-largest blockchain platform, has recently implemented a significant update to its network, boosting transaction capacity by 20%. The change, which involves a dynamic adjustment of the block Gas limit, was successfully executed on February 8th, according to a report by COINOTAG News.

The Gas limit, a crucial parameter in Ethereum's Layer 1 (L1) network, has been increased from 30 million to 36 million. This decision was reached through a consensus among validators, with approximately 49.5% of them adopting the new parameter. The increased Gas limit is expected to enhance the network's transaction processing capacity by 20%, which could lead to a substantial decrease in transaction fees, projected between 10% and 30%.

As Ethereum continues to evolve, these adjustments not only improve scalability but also enhance the overall user experience within the ecosystem. The successful implementation of this update demonstrates the community's strong support for such enhancements, which are crucial for the platform's long-term growth and competitiveness in the blockchain landscape.