HomeNewsEthereum Developers Advocate for Gas Limit Adjustment: 'Pump the Gas' Drive Launched

Ethereum Developers Advocate for Gas Limit Adjustment: ‘Pump the Gas’ Drive Launched

- Advertisement -
  • A Rocket Pool validator agrees to propose a block with a gas limit of 40 million.
  • Updates such as “data blobs” could offer solutions to lower costs in Ethereum Layers 1 and 2.

To alleviate lingering concerns about transaction costs, the engineers behind Ethereum are implementing a strategy to expand the network’s processing capacity.

The initiative, dubbed “Pump the Gas” by its creators Eric Connor, a key Ethereum engineer, and Mariano Conti, formerly in charge of smart contracts at MakerDAO, proposes an increase in the gas limit from 30 million to 40 million.

This change promises to mitigate transaction fees on Ethereum’s first layer, with estimates suggesting a 15% to 33% reduction. The campaign seeks not only technical support, but also consensus from the broader Ethereum community, including customer teams, miners, and individual stakeholders, in a collective effort to implement this improvement, a good initiative as we have written about on ETHNews, previously .

Source: Etherscan

Initial response to the #pumpthegascampaign has been positive, with the Ethereum community expressing support. Of particular note is the participation of a Rocket Pool validator, who has offered to propose a block that runs on a gas limit set to 40 million, a sign that the proposal is gaining traction.

The gas limit is usually limiting on the Ethereum network, dictating the maximum number of transactions that can be processed in a specific block. By raising this limit by 33%, we anticipate not only an increase in the volume of transactions the network can handle, but also an overall improvement in the efficiency and security of the system.

Additionally, other updates are being explored, such as “data blobs,” which promise to offer long-term solutions to transaction costs in both Ethereum’s first and second layers.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: [email protected] Phone: +49 160 92211628