Ethereum developers Eric Connor and Mariano Conti have put forward a proposal to elevate the gas limit on the Ethereum network from its current 30 million to 40 million. The primary aim behind this proposed adjustment is to potentially alleviate the burden of high transaction costs on the network’s layer 1.

By increasing the gas limit, Connor and Conti suggest that transaction costs could see a notable reduction, ranging between 15% to 33%. In addition to this fundamental change, the proposal encompasses other adjustments, such as augmenting the blob count and implementing EIP-7623. These proposed modifications collectively aim to optimize the efficiency and affordability of transactions on the Ethereum blockchain.

Pump the Gas” Initiative Launched

In response to the proposal for a gas limit increase, Eric Connor and Mariano Conti have taken the initiative to launch the “pump the gas” campaign. Acting as proponents of this movement, they seek to galvanize support from various segments of the Ethereum community.

With the “pump the gas” initiative, Connor and Conti are calling upon solo stakers, client teams, staking pools, and all members of the Ethereum ecosystem to join forces in advocating for the proposed changes. The initiative provides a comprehensive platform, including detailed rationale and actionable steps, accessible via its dedicated website. Through this concerted effort, they aim to amplify awareness and foster widespread engagement in driving forward the proposed gas limit increase.

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Community Discussion and Considerations

The proposal for a gas fee limit increase has sparked vital discussions within the Ethereum community, involving stakeholders from diverse backgrounds. As developers engage in dialogues with various community members, a range of considerations emerges. While the potential benefits of reducing transaction costs are evident, concerns are raised regarding the implications of significantly raising the gas limit.

Particularly, there are apprehensions surrounding the potential strain on node operators and the network’s overall scalability. Despite these considerations, there remains a shared consensus on the importance of addressing high transaction costs within the Ethereum ecosystem. The conclusion of these discussions underscores the necessity for ongoing vigilance and monitoring of network optimization efforts, ensuring a balanced approach towards enhancing Ethereum’s operational efficiency.

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The post Ethereum Devs Seek Gas Limit Increase for Lower Transaction Costs appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am