Ethereum’s gas limit may be raised from 30 million to 40 million to lower transaction fees by 15-33%. Supporters of the proposition argue it will boost dApp efficiency, while critics warn it could cause centralization and network strain.
Ethereum is in an important debate within its community. The focus is on whether or not to raise the gas limit, the maximum amount of gas that can be used per block. The debate is about reducing transaction fees and improving the network’s efficiency.
While the idea of raising the gas limit received support, it also raised concerns about its impact on network stability and decentralization. This ongoing discussion raises a key question: can Ethereum handle higher gas limits without sacrificing security and decentralization?
Ethereum gas limit
To understand the debate, it’s essential first to know what the gas limit means within Ethereum. Gas is a fee that users pay to execute transactions or run smart contracts on the network.
Each operation on Ethereum requires computational work, and gas measures the amount of work needed. The gas limit refers to the cap on how much gas can be used in a single block of transactions.
Setting the gas limit too low can lead to congestion, high transaction fees, and slower processing times. On the other hand, too high can create increased pressure on the network’s resources, such as storage, bandwidth, and computational power.
Ethereum’s current gas limit is just above 30 million, but many in the community are pushing for it to be increased. Moving ahead with the proposition could reduce transaction fees, allowing for better scalability and efficiency.
The push for raising the gas limit
Ethereum developers and validators have been pushing to raise the gas limit for some time. In March 2020, core Ethereum developer Eric Connor and former MakerDAO executive Mariano Conti started a campaign called “Pump The Gas,“ aiming to increase the gas limit to 40 million.
They believe this change could lower transaction fees by 15% to 33%, which would benefit both developers and users. Lower fees would make it easier for developers to create more complex applications and services, encouraging more people to use decentralized applications (dApps) on Ethereum.
One of the main supporters of this change is Emmanuel Awosika, the creative director of the 2077 Collective. He argues that the current gas limit is too low for high-demand applications.
Many dApps, like games or decentralized finance (DeFi) platforms, struggle to operate efficiently with the current limit because the fees become too high during busy periods. Increasing the gas limit would help these applications run more smoothly and be more user-friendly.
Network stability vs. risks of raising gas limits
While many people support raising the gas limit, not everyone in the Ethereum community agrees with the approach. One of the main critics is Toni Wahrstätter, a researcher at the Ethereum Foundation. His concern is that increasing the gas limit too quickly could harm Ethereum’s security and stability.
When the gas limit is raised, it requires more computational power to process and validate transactions. This could put extra pressure on Ethereum’s infrastructure, which will definitely make it harder for smaller and independent operators.
Only larger operators with more resources can handle the high gas limit. This could lead to centralization, which is against Ethereum’s core idea of decentralization.
Another issue with increasing the gas limit too fast could cause problems like higher storage needs, slower speeds, and more stress on the network.
The “Pump The Gas” campaign agrees with these concerns and suggests that any change to the gas limit should be made slowly and carefully to avoid creating more problems, like network congestion or performance issues.
Finding the right balance
The Ethereum community is still debating how to move forward with raising the gas limit, but there is no agreement on how much it should be raised.
On December 19, it was reported that 10% of validators backed raising the gas limit to over 30 million. However, many people believe that the increase should be gradual, so the network can adjust to the added pressure.
For example, junior Ethereum researcher Justin Drake increased his validator’s gas limit to 36 million, which is a 20% rise from the current limit. According to him, it “safely greases the wheels.” Drake thinks this change would help the network handle more transactions without causing major issues.
The decision to raise Ethereum’s gas limit is part of a larger conversation about its future scalability. With Ethereum 2.0 already working to improve efficiency and security, managing gas limits is essential for handling more transactions without losing decentralization.
Raising the gas limit could help developers and lower transaction fees, but it must be done carefully. Any changes should be gradual to avoid affecting the network’s stability.
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Source: https://www.cryptopolitan.com/debate-over-ethereum-gas-limit/