Ethereum founder Vitalik Buterin has called for a 33% increase in the gas limit
Ethereum founder Vitalik Buterin argued for a “modest” gas limit increase to improve network flow.
During a January 10 Reddit ask-me-thing (AMA) hosted by the Ethereum Foundation research group, Buterin revealed that the gas limit has not been increased for three years, the longest ever in the protocol's history.
“Actually, even today, I think it's reasonable to increase the gas limit a little bit,” Buterin said during his research group's 11th AMA.
Buterin also made some short calculations, which means an increase of around 40 million. The current gas limit is 30 million, according to Eterscan, so Buterin suggests a 33% increase.
In the year The average gas limit since Ethereum's genesis in 2015 was around 3 million, which has increased over time with network usage and adoption.
The Ethereum gas limit refers to the maximum amount of gas that can be spent to execute transactions or smart contracts in each block. Gas is the payment required to conduct a transaction or execute a contract on the blockchain.
A gas limit is set to ensure that blocks are not too large, which will affect network performance and synchronization. Validators can dynamically adjust the gas limit within certain parameters when producing blocks.
Increasing the gas limit allows more transactions per block, which theoretically increases the overall network throughput and capacity. However, it increases the load on the hardware and the risk of network spam and attacks.
Related: Daily gas spent on EVM posts hits $8M mark
The average gas price or transaction price on Ethereum is currently around 35 gwei or $1.89, according to Etherscan. However, they have increased since the beginning of 2024 and are very high for complex modern contract works.
Network gas charges were raised to 150 Gwaii by 2023 in May as a result of the inscriptions. Gwe is an Ethereum name that represents one billionth of one Ether (ETH).
In the year In November 2023, Ethereum and Bitcoin users reignited the expansion debate as fees rose amid another round of scripted incentives.
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