Ethereum increases gas limit amid historic volatility

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It is important to note that the word “you” means “you”. Ethereum After a vote of validators, the (ETH network) has increased its gas limits for almost three years.

The last time the gas limit was raised it went from 15m to a cap of 30m, during the token’s ‘hard fork’ into a proof-of-stake In August 2022, blockchain will be available. Ethereum’s gas cap then reached 32m today. Gaslimit.pics data (which records votes for gas limit increases), shows 52% of Validators voting to approve and 48% voting to block the change.

What is the gas limit?

Ethereum is a network that allows you to send and receive money. “gas” The unit of computation energy is used when an act is carried out, for example gas in your car. The number of transactions or actions per block can now be increased, which could result in a reduction in gas charges.

The Ethereum community has always been divided on gas limits. Some have called for a reduction in transaction fees by increasing these gas limits, such as Ethereum’s creator Vitalik Buterin, who made a Reddit thread. However, others have highlighted the dangers of suddenly increasing the gas limit.

Researchers at the Ethereum foundation have claimed that gas limitations exceeding 40 millions could cause problems. “fail to propagate as expected” You can produce “bottlenecks.”

Ethereum may have already been set up for a performance upgrade. Pectra will increase the performance of Ethereum’s network by doubling it in 2025. “the capacity of L2s,” if Buterin's predictions are correct.

Ethereum's bumpy week

Ethereum is currently experiencing some of the most volatile performances in its history. Ethereum dropped more than 178% in a single trading day, the largest drop in ETH value since May 2021. This was due to $611,000,000 in ETH positions that were sold short or long. The broader implications of Trump’s tariff plans were cited by many as the reason for this. Ethereum’s value also fell compared to the dollar. Bitcoin In less than five years.

Cryptocurrency prices rose earlier today, after Trump announced that he would halt proposed tariffs against Canada.

Ethereum is also gaining support from high-profile individuals. Eric Trump is the son of Donald Trump and he tweeted about it. “a great time to add $ETH.”

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