Vitalik Buterin Proposes 33% Gas Limit Raise for Improved Ethereum Network Throughput
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Ethereum co-founder Vitalik Buterin has proposed a 33% increase in gas limit, raising it from 30 million to 40 million. The aim is to improve the network’s throughput capacity.
33% Increase Would Shift the Gas Limit to 40 Million
In a January 10 Ask-Me-Anything (AMA) session on Reddit organized by the Ethereum Foundation’s research team, Buterin discussed the current state of Ethereum’s gas limit and proposed a 33% modest increment.
The gas limit, which has remained unchanged for almost three years, is a critical parameter in the Ethereum blockchain that determines the maximum number of transactions a block can contain.
According to Etherscan data, Ethereum gas’s current limit is 30 million. However, Buterin proposed a 33% increase, which would result in a new limit of 40 million.
Buterin’s suggestion for a modest increase in the gas limit is aimed at enabling more transactions per block, potentially improving the overall capacity of the Ethereum network. The timing of this proposal is critical as Ethereum grapples with challenges related to escalating gas prices.
The average gas prices on the network have been around 35 gwei (Gas price unit in Ethereum) or $1.89. However, there has been a noticeable upward trend since the beginning of 2024. The surge in gas fees can be traced back to a spike in 2023 attributed to a “memecoin and inscription craze.”
On December 16, Dune Analytics data revealed that gas spent on inscriptions on Ethereum Virtual Machine (EVM) chains surged to a record high of $8.3 million.
During this period, gas fees reached a historical high of 150 gwei. The surge in fees has reignited the scalability debate within the Ethereum and Bitcoin communities, underscoring the need for innovative solutions to address the scalability issues faced by blockchain networks.
While well-founded calculations and considerations support Buterin’s proposal for a 33% increase in the gas limit, its implementation is not guaranteed.
Achieving consensus among the diverse and dynamic members of the Ethereum community poses a considerable challenge. The outcome of this consensus-building process will significantly influence the immediate future of Ethereum, determining its ability to meet the evolving demands of its user base.
Concept and Potential Vulnerabilities of Buterin’s Proposal
Buterin’s proposal to increase the gas limit on the Ethereum network by 33% (approximately 40 million) introduces a potential vulnerability to spam attacks and other malicious activities.
The gas limit serves as a cap on the computational work that can be included in each block, preventing the inclusion of excessively large blocks that could degrade network performance.
When the gas limit is raised, it expands the capacity for transactions and computational operations within a block. While this offers an advantage in accommodating more transactions and improving the network’s throughput, it opens the door to potential breaches.
Malicious actors could exploit this expanded computational capacity to flood the Ethereum network with such transactions. This influx of unnecessary data could lead to congestion, slowing the network and potentially causing disruptions.
Therefore, any decision to adjust the gas limit needs to consider the balance between increased network capacity and the potential risks associated with spam attacks and other malicious activities.
