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Last updated: January 10, 2024 22:34 EST | 2 min read

Ethereum co-founder Vitalik Buterin has recommended a modest increase in the gas limit to enhance the potential throughput of the Ethereum network. During a Reddit ask-me-anything (AMA) organized by the Ethereum Foundations research team, Buterin emphasized that the gas limit has not been raised for nearly three years, marking the longest duration without an increase in the protocols history.

In response to a question during the AMA, Buterin expressed his view, stating, Honestly, I think doing a modest gas limit increase even today is reasonable. He highlighted the historical context, noting that the last increase occurred around late 2021 with the implementation of EIP-1559, which effectively doubled the gas limit but resulted in only a roughly 9% increase in actual average usage.

Buterin went on to propose a potential gas limit of around 40 million, suggesting a 33% increase from the current 30 million gas limit reported by Etherscan. He explained that allocating the gains from Moores law post-2021 between increased capacity and enhanced ease of syncing and verification would justify such an increase.

The Ethereum gas limit, a crucial parameter that influences the networks capacity for processing transactions and executing smart contracts, has evolved. Buterins suggestion aims to strike a balance between accommodating the growing demand on the Ethereum network and ensuring efficient syncing and verification processes.

As Ethereum continues to advance and undergo network upgrades, decisions regarding parameters like the gas limit play a crucial role in maintaining a healthy and scalable blockchain ecosystem. The proposal for a modest increase aligns with ongoing efforts to optimize Ethereums performance and adapt to changing demands.

The cost of transacting on the Ethereum network, measured by gas prices, has seen a surge, currently averaging around 35 gwei, or $1.89, according to Etherscan. This increase has been notable since the beginning of 2024, with higher fees observed for complex smart contract operations.

Ethereum gas fees reached a peak of 150 gwei in May 2023 during the NFT craze. The scalability debate was reignited in November 2023 as fees surged amid another wave of NFT-related activity. Data from Ycharts indicates a 141% increase in Ethereum gas fees over the past year, reaching a current fee of 0.9084 USD/tx.

The rising fees on Ethereum have led users to explore alternative solutions, with layer-2 solutions like Arbitrum gaining popularity due to their promise of faster and cheaper transactions. Ethereums modular approach to scalability may take time to materialize fully, prompting users to seek more immediate alternatives.

One potential solution to address high fees is the EIP-4844 upgrade, designed to make it cost-effective to send layer-2 data to the mainnet using blobs. The EIP-4844 upgrade is expected to go live in the first half of 2024.

From a price perspective, Ethereum recently surpassed the $2,130 resistance level that had held for over a year. However, the momentum has slowed, and the price is currently consolidating below the $2,600 level.

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Vitalik Buterin Advocates for Modest Gas Limit Increase in Ethereum Network - Cryptonews

Detailing Vitalik Buterins proposal to raise the gas limit

In a recent ask-me-anything (AMA) session on Reddit, Vitalik Buterin, the co-founder of Ethereum, proposed a significant increase in the platforms gas limit, aiming to boost network throughput. This proposal is a significant point in Ethereums ongoing development, as it addresses critical scalability and efficiency challenges.

Buterins recommendation involves raising the gas limit by 33%, from the current 30 million to approximately 40 million. The gas limit, a crucial aspect of the Ethereum blockchain, dictates the maximum gas expenditure allowed in each block for executing transactions or smart contracts.

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Gas functions as the transaction fee necessary for operations on the blockchain, and the limit ensures optimal block size, maintaining the networks performance and synchronization. This proposed increase is the first of its kind in nearly three years, the longest period without a change in the protocols history.

The Ethereum network has experienced significant growth since its inception in 2015, with the average gas limit initially set at around 3 million. This growth parallels the increase in network usage and adoption, highlighting the need for scalability solutions. The proposed gas limit hike aims to accommodate more transactions per block, theoretically enhancing the overall throughput and capacity of the Ethereum network.

However, this change is not without its challenges. An increased gas limit could impose greater loads on network hardware and heighten the risk of spam and network attacks. Additionally, Ethereum has witnessed fluctuating gas prices, with the average cost of transactions currently around 35 gwei (approximately $1.89), according to data from Etherscan. Complex smart contract operations and heightened network activity have led to surges in gas fees, notably reaching a 2023 peak of 150 gwei during the inscriptions craze.

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The scalability debate is not new to the world of cryptocurrencies. In November 2023, both Ethereum and Bitcoin communities revisited this topic as network fees soared amid another wave of inscriptions hype. Ethereums transition to a proof-of-stake model in its Ethereum 2.0 upgrade was a significant step towards addressing scalability and energy consumption issues. However, the conversation continues as the community seeks to balance network capacity with efficiency and security.

Buterins proposition is part of Ethereums broader effort to adapt to its growing user base and the increasing complexity of operations on its platform. The proposed gas limit increase reflects the continuous need for innovation and adjustment in the ever-evolving landscape of blockchain technology. As Ethereum strives to maintain its position as a leading platform for smart contracts and decentralized applications, decisions like these will play a crucial role in shaping its future and sustainability.

With the cryptocurrency community eagerly watching, the Ethereum networks response to this proposal will be a defining moment in its journey toward greater scalability and efficiency. As Ethereum evolves, it continues to pave the way for a more robust and versatile blockchain ecosystem.

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Ethereum's Vitalik Buterin Suggests a 33% Gas Limit Hike to Enhance Network Efficiency - Bitcoinsensus

In a blog post published on 28th December 2023, Ethereum Founder Vitalik Buterin recognised Waku as the successor of Whisper, the original peer-to-peer communications protocol for Ethereum.

10th January 2023, Switzerland The blog post from Vitalik Buterin 'Make Ethereum Cypherpunk Again', discusses the broader technological vision in which Ethereum exists and supports Waku as the realisation of the decentralised messaging protocol imagined by Gavin Wood.

Buterin wrote:

"In 2014, Gavin Wood introduced Ethereum as one of a suite of tools that can be built, the other being Whisper (decentralised messaging)... The former was heavily emphasised, but with the turn toward financialisation around 2017 the latter [was] unfortunately given much less love and attention. That said, Whisper continues to exist as Waku, and is being actively used by projects like the decentralised messenger Status."

While the Waku team originally forked the Whisper protocol in 2020 to continue its development, its scalability shortcomings quickly became apparent. In 2021, work on a complete protocol rewrite began. Waku introduced a relay protocol that implements pub/sub over libp2p. The team added further capabilities to make Waku more useful, including historic message retrieval for mostly offline devices, adaptive nodes to make participation more accessible to users with limited connections or lower-spec hardware, and privacy-preserving DOS protection protocols.

Waku Lead Franck Royer said on Buterin's comments:

"We are always thrilled when Vitalik recognises Waku as a continuation of Gavin Wood's web3 vision. It has been hugely important for us to build Waku in such a way that preserves the original cypherpunk values he acknowledged in his blog post, including permissionless participation, decentralisation, and censorship resistance."

Waku is a public good. Its protocols are blockchain agnostic and can be implemented on any web3, or even web2, app, and are already in use by Status, Railgun, and the Graph.

Waku was first announced as a core Logos project in June 2023 and powers the communication layer of the Logos technology stack.

Waku is an open-source, privacy-focused group of decentralised messaging protocols that allows accessibility on even resource-restricted devices. It empowers users to reclaim control over their data and communication, counteracting the global reach of technology giants and the centralised messaging applications we rely on.

Logos is working to build the technology required for the next generation of governing services, public goods, and social institutions. The grassroots movement behind Logos is committed to creating the first network state to bring citizens greater freedom, transparency, and stability through voluntary participation. Waku serves as the communication layer for the Logos technology stack.

This publication is provided by the client. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

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Vitalik Buterin recognises Waku as the peer-to-peer communications layer of Gavin Wood's web3 vision - Cointelegraph

Table of Contents

In a recent AMA, Ethereum co-founder Vitalik Buterin suggested raising the Ethereum gas limit by 33% to 40 million to improve network throughput and overall scalability.

Ethereum co-founder Vitalik Buterin was hosting his Reddit AMA session when he made the "modest" proposal to increase the gas limit from the current 30 million to 40 million - a substantial 33% increase i. This marks the first proposed gas limit increase in nearly 3 years. This could majorly impact the overall performance of the Ethereum network moving forward since it aims to address a fundamental issue in blockchain technology - network efficiency.

Gas serves as the transaction fee required to perform actions on the Ethereum blockchain. The gas limit represents the maximum gas that can be allocated in all the transactions and smart contracts running in each block. Increasing the gas limit essentially increases the block-carrying capacity in the Ethereum chain.

The limit is in place to prevent excessively large blocks, which could adversely impact network performance and synchronization. It is also a way to reduce spam in the network.During Ethereum genesis, the gas limit was set at 3 million, which has since 10X'd to 30 million due to network demands.

An increased gas limit has the potential to lower gas prices by accommodating more transactions per block, subsequently reducing network congestion.

However, this proposal introduces challenges, especially for network validators. A higher gas limit may strain validators, necessitating more robust hardware and raising concerns about network security and vulnerability to spam or other forms of attack.

The proposed increase also rekindles the ongoing discussion on scalability in the Ethereum community. As stakeholders deliberate on the potential implications, the decision on this proposal will undoubtedly shape the network's trajectory. It holds the key to influencing Ethereum's scalability and efficiency, and its broader role within the blockchain ecosystem.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Vitalik Buterin Proposes 33% Increase In Gas Limit - CryptoDaily

The second-largest crypto by market capitalization, Ethereum, is having trouble scaling as the network gets more expensive and crowded. The co-founder of Ethereum and crypto billionaire, Vitalik Buterin, has proposed a modest increase in the gas cap to potentially solve this problem and boost the networks throughput.

The maximum quantity of gas that may be used in each block to carry out transactions or smart contracts is known as the gas limit. The amount of money needed to carry out a transaction or carry out a contract on the Ethereum network is called gas. To prevent excessively big blocks from impairing network synchronization and performance, a gas limit is imposed.

The miners, or validators, are the people who create blocks and verify transactions; they are the ones who set the gas limit. As they generate blocks, validators can dynamically modify the gas limit within specific parameters. By allowing more transactions into each block, the gas limit may be raised, thereby increasing the networks capacity and throughput overall. It does, however, also put more strain on the system and raises the possibility of network spam and assaults.

The Ethereum Foundations Research Team had a Reddit ask-me-anything on January 10, during which Buterin said that the gas cap has not been raised in almost three years the longest period in the protocols history. He said that this was because of the concern of raising the uncle rate of the proportion of blocks that are deleted and not part of the main chain. The networks efficiency and security are compromised by a high uncle rate.

Buterin stated at the study teams eleventh AMA, I think doing a modest gas limit increase even today is reasonable. After performing a few quick calculations, he added that this would suggest an increase of over 40 million. Etherscan states that the current gas cap is 30 million, which implies a 33% increase.

However, Buterin argued that the adoption of the Geth client the most widely used piece of software for operating Ethereum nodes, and advancements in network propagation had made the uncle rate less than it formerly was. The long-awaited update to Ethereum that will move the network from a proof-of-work to a proof-of-stake consensus mechanism, known as Ethereum 2.0, will not be impacted, he added.

The Ethereum community has reacted differently to Buterins idea. Some have backed the proposal, claiming that it will enhance Ethereums user experience and adoption while lowering transaction costs and waiting times. Some have expressed opposition to the proposal, claiming that it will

jeopardize Ethereums security and stability and increase the networks centralization and complexity.

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Vitalik Buterin Proposes 33% Gas Limit Boost for the Ethereum - Analytics Insight