Ethereum’s speed checked on Sunday, while more and more validators reported their support for the increase in the Ethereum gas limit to 45 million units, which will reduce transaction costs and will improve the network scale.
On Sunday, the Ethereum gas limit reached more than 37.3 million units, according to Etherscan, up almost 3% compared to the end of last week, while several blocks were offered with higher gas limits.
The last increase in the gas limit represents the first significant ascent since February, when it went from 30 to 36 million.
Improvement of transaction flow
Higher gas limits signify more transaction flow on the layer 1 network of Ethereum, and validators can automatically adjust the limit of approximately 0.1% per block when they indicate the management of modifications.
Ethereum flow has increased to just under 18 transactions per second during the weekend, according to Chains Respect. It has also increased since the last increase in the gas limit when the TPS was approximately 15.
Validators agree to “pump gas”
The increase in the gas limit of the weekend occurred because almost half of all the marked ether (ETH) now signal support to increase the gas limit to 45 million or more thanks to a basic campaign “pump the gas”.
“Almost 50% of the participation vote to increase the L1 gas limit to 45 million,” said Vitalik Buterin on Sunday.
Currently, 47.2% of marked validators are favorable to higher gas limits, according to Gaslimits.Pics.
Pump the gas
The gas limit refers to the maximum quantity of gas spent to execute transactions or smart contracts in each block. The gas is the ether costs required to carry out a transaction or execute an intelligent contract on the network.
The developers of Ethereum launched the “Pump the Gas” campaign in March 2024 to initially increase the Ethereum gas limit by 30 million to 40 million, which, according to them, would reduce the transaction costs on layer 1.
Buterin noted that Geth recent, the client of the most popular Ethereum node, the team’s improvements make this scale increase safer with new optimizations of archive nodes.
In relation: More than 50% of validators point out to increase the ETH gas limit
The activity and the price of the ether continue more
The activity of the Ethereum network has also increased in recent months, with an increase in daily transactions by around 1.1 million in April at current levels of around 1.4 million, according to Etherscan.
The increase in network activity is correlated with an increase in the price, the active assets winning 54% in last month.
Ether exceeded $ 3,800 briefly in a higher seven month on Sunday, while business treasury bills and the stock market negotiated funds continue to take care.
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