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The Ethereum 
$2,708 network has raised its gas limit—transaction fee cap—above 31 million for the first time since transitioning to a Proof of Stake consensus mechanism. This adjustment enhances the network’s processing capacity, with over 50% of validators approving the change without the need for a hard fork. In the last 24 hours, the average gas limit has reached 31.5 million, indicating a response to rising demand and increasingly complex transactions.
How Was the Gas Limit Change Implemented?
In the Ethereum network, the gas limit defines the maximum computational power that can be expended in a block. Increasing the limit from 30 million to above 31 million has led to a rise in the number of transactions per block.
The majority approval from validators triggered an automatic update due to protocol rules. Consequently, users can execute transactions faster and at lower costs.
The last similar change occurred in 2021, when the gas limit was raised from 15 million to 30 million. However, this time the process was conducted under the Proof of Stake consensus mechanism for the first time. Reports suggest that the new limit could rise to 36 million.
New Steps for Scalability on the Ethereum Network
In recent months, the Ethereum team has introduced innovations like the Dencun upgrade to enhance the network’s scalability. Proto-dank sharding has reduced the costs of blockchain data storage. However, the increasing demand from DeFi and NFT projects necessitated the rise in gas limits.
Gas fees fluctuate based on network congestion. The increased limit will help stabilize average fees in the short term and reinforce Ethereum’s leadership in the global cryptocurrency ecosystem in the long run, alongside Layer-2 solutions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
