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ETH's manners suggest raising the gas limit to 12.5 million units per block

ETH’s manners suggest raising the gas limit to 12.5 million units per block

ETH miners are voting to increase the gas limit from 10 million to 12.5 million units per block in order to increase the speed of the network. However, not all Ethereum developers supported this initiative.

Bitfly, the company that owns the Ethermine mining pool, wrote on Twitter that theoretically, with an increase in the gas limit and network bandwidth, Ethereum will be able to process about 44 transactions per second instead of 35. According to Bitfly, this will be a great achievement for the community. On the other hand, increasing the number of transactions in blocks will increase their size, making it harder and more expensive to transfer blocks. In this case, the number of operators of Ethereum nodes may decrease, which will negatively affect the security of the network.

The head of the Ethereum development team, Peter szilágyi, believes that miners are only concerned with their own benefit, and they do not care about the health of the network in the long term. Anton Bukov, technical Director of the Dex 1inch aggregator, said that operations that require little gas but a large amount of resources can be used to attack nodes. In addition, this may cause the nodes to stop completely.

Bukov believes that the first place should be the convenience of the network for the community, and not distant prospects. Otherwise, this approach may negatively affect the competitiveness of the network, and projects will begin to switch to forks of Ethereum or other blockchains. Independent researcher of blockchain scaling problems Georgios Konstantopoulos also spoke out against scaling Ethereum by increasing the size of blocks.

A month and a half ago, Ethereum co-founder Vitalik Buterin told the Sparkpool mining pool that He would not support increasing the gas limit. However, now Buterin has entered the position of miners, noting that such an initiative will reduce commissions for conducting transactions. He does not blame the miners for this decision, as they are “tired” of high commissions over the past six weeks. Buterin added that he spent $40 on commissions to make just three transactions.

Recall that this month, the average daily volume of commissions for transactions in the Ethereum network has significantly increased and exceeded the same indicator of Bitcoin. Last year, Buterin said that the growth of transaction fees in the Ethereum blockchain is hurting the speed of mass distribution of the network.