The Ethereum network gas limit increase, supported by ConsenSys, aims to strengthen scalability and transform the network into the most robust “world computer.”
ConsenSys, a leading company in the Ethereum ecosystem, has expressed strong support for an increase in the network’s gas limit. The move, according to the company, is crucial to strengthening decentralization and making Ethereum the most robust and scalable “world computer.”
The company stresses that the proposal, which has not yet been approved, has the potential to transform the way the network works, allowing for greater transaction processing capacity and opening up new possibilities for the development of decentralized applications (dApps). Therefore, if the increase in the gas limit is approved, the Ethereum base layer could scale simultaneously with its Layer 2 solutions, allowing for the inclusion of more complex transactions.
According to ConsenSys, the proposal represents a quantum leap in the network’s ability to support a larger number of users and applications, thereby driving mass adoption of blockchain technology. Its vision is for Ethereum to become a network capable of handling the load of a true “world computer,” unleashing the technology’s full potential for diverse and large-scale uses.
The Ethereum Gas Limit Debate
Discussions on increasing the gas limit on Ethereum have progressed, but have not yet reached a final decision.
ConsenSys, in a recent post on X, stated that both its popular Web3 wallet MetaMask and 40% of Ethereum validators support the proposal.
It is important to note, however, that an increase in the network gas limit has not yet been approved and that this decision requires considerable consensus within the community.
The gas limit increase is focused on mainnet scalability. Currently, the limit restricts the number of transactions processed per block, which can lead to congestion and increased fees. In this context, an increase would allow more transactions to be processed per block, reducing congestion and costs, and making the network more efficient and accessible.
However, while the potential impact of this change is considerable, potentially making Ethereum a faster, cheaper, and more capable blockchain to support the growing demands of dApps and users, there are also concerns about security and centralization, which require careful evaluation before any implementation. ConsenSys’ proposal, backed by a significant portion of validators, is a significant boost to the debate, but consensus is needed for approval.
The debate beyond ConsenSys
While ConsenSys strongly advocates for increasing the gas limit, other major players in the Ethereum ecosystem have also voiced their opinions.
Ethereum co-founder Vitalik Buterin proposed a 33% increase in the gas limit earlier last year. However, Buterin has stressed the need for a cautious increase, acknowledging the security concerns that a change of this magnitude could bring to the blockchain's stability.
A hasty increase could leave the network vulnerable to attacks or the creation of new bottlenecks. The debate is therefore not only about the need for the increase, but about the optimal implementation that will ensure the long-term security and stability of the network.
The Ethereum developer and validator community is carefully considering the potential risks and benefits, as noted by Christine Kim, a researcher at Galaxy Digital.
Source: Gaslimit.pics
The last significant gas limit update occurred a considerable time ago, and the current proposal, if approved, would represent a significant change to the capabilities of the chain, directly affecting transaction costs, overall network efficiency, and the type of dApps that could be developed on it.
An appropriate increase would allow for a larger volume of complex transactions to be processed more efficiently, opening up opportunities for new decentralized applications and services. But the execution of this decision requires a meticulous process of analysis and consensus within the Ethereum community, prioritizing the security and sustainability of the network.
So while ConsenSys’ proposal, backed by a significant fraction of validators, pushes the discussion toward passing a necessary change, the caution of key figures like Vitalik Buterin highlights its complexity. The path to a decentralized and robust “world computer,” as the firm envisions, requires a careful balance between scalability, security, and decentralization.
