Overview

A recent initiative proposes substantial enhancements to Ethereum’s gas limit, potentially increasing transaction speeds significantly. This proposal is aimed at lifting the current cap from 36 million gas units to 3.6 billion over four years.

Key Points

• The Ethereum Improvement Proposal (EIP) 9698 introduces a systematic increase of the gas limit.
• If adopted, it may facilitate up to 2,000 transactions per second (TPS).
• Implementation could commence around June 1, without the necessity for a network hard fork.

Details

Dankrad Feist, who has garnered attention within the crypto community for his scaling efforts, is leading this proposal aimed at adjusting Ethereum’s gas limit in a proactive manner.

‘The current gas limit mechanism relies on miner/operator voting, which lacks coordination and predictability.’ - Dankrad Feist (Translation: “The current gas limit mechanism relies on miner/operator voting, which lacks coordination and predictability.”)

The proposal is essential as Ethereum competes with other blockchain networks that offer faster transaction confirmations and lower fees, with many users migrating to these alternatives in recent times.

For more information, explore the proposal in detail through the official channels.