News Report Technology
January 11, 2024

Vitalik Buterin Proposes 33% Increase in Ethereum Gas Limit to Enhance Network Throughput

In Brief

Vitalik Buterin proposed adjusting the Ethereum gas limit to 40 million, a 33% increase to enhance the network’s throughput.

Vitalik Buterin Proposes 33% Increase in Ethereum Gas Limit to Enhance Network Throughput

Co-founder of Ethereum (ETH) — Vitalik Buterin proposed adjusting the Ethereum gas limit to 40 million to enhance network throughput during the ask-me-anything (AMA) session hosted by the Ethereum Foundation’s research team on Reddit. Buterin highlighted that the gas limit has remained unchanged for nearly three years, marking the lengthiest period without an increase in the protocol’s history.

Buterin also indicated that this adjustment would result in an increase to approximately 40 million. Given the current gas limit of 30 million, Buterin proposes a 33% increase.

The Ethereum gas limit refers to the upper threshold for the amount of gas utilized in carrying out transactions or executing smart contracts within each block. Gas represents the fee necessary for completing a transaction or executing a contract on the blockchain.

A gas limit is established to prevent blocks from becoming excessively large, a situation that could adversely affect network performance and synchronization. Validators have the capability to dynamically adjust the gas limit within defined parameters while producing blocks.

Raising the gas limit enables a higher number of transactions to be included in each block, theoretically enhancing the overall throughput and capacity of the network. Nevertheless, it concurrently raises demands on hardware and introduces the potential risk of network spam and attacks.

Average gas prices, indicating the transaction costs on Ethereum, presently stand at approximately 35 gwei or $1.89. However, these prices have risen since the commencement of 2024, particularly for intricate smart contract operations.

Ethereum Reaches New Heights

Network gas fees reached a peak of 150 gwei in May 2023, primarily attributed to the surge in activity related to inscriptions. A gwei is a unit of Ethereum currency equivalent to one billionth of a single ETH.

Recently, Ethereum price surprised the market with a notable show of strength, surging from $2,444 on Jan. 10 to a year-to-date high of $2,644.45 today, reflecting a 24-hour increase exceeding 10%, as per OKX market data.

Analysts suggest that the price surge could be linked to preparations by market participants for the scheduled approval of a spot Ethereum ETF in May 2024, following successful approval of spot Bitcoin ETF earlier this week. This approval is expected to provide professional investors in the US with indirect exposure to Ethereum.

In proposing an increase in Ethereum’s gas limit, Vitalik Buterin aims to address the prolonged period of stagnation and potential scalability challenges, while recognizing the associated risks.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Hot Stories

8 Best AI Business Name Generators in 2025

by Victoria d'Este
June 13, 2025
Join Our Newsletter.
Latest News

8 Best AI Business Name Generators in 2025

by Victoria d'Este
June 13, 2025

The Calm Before The Solana Storm: What Charts, Whales, And On-Chain Signals Are Saying Now

Solana has demonstrated strong performance, driven by increasing adoption, institutional interest, and key partnerships, while facing potential ...

Know More

Crypto In April 2025: Key Trends, Shifts, And What Comes Next

In April 2025, the crypto space focused on strengthening core infrastructure, with Ethereum preparing for the Pectra ...

Know More
Read More
Read more
QCP Capital: Crypto Market Sees Over $1B Sell-Offs As Traders Seek Downside Protection, Attention Turns To Tehran’s Response To Israel’s Strike
Markets News Report Technology
QCP Capital: Crypto Market Sees Over $1B Sell-Offs As Traders Seek Downside Protection, Attention Turns To Tehran’s Response To Israel’s Strike
June 13, 2025
8 Best AI Business Name Generators in 2025
Digest Top Lists Business Markets Technology
8 Best AI Business Name Generators in 2025
June 13, 2025
Deutsche Telekom And NVIDIA Partner To Build Industrial AI Cloud For European Manufacturers
Business News Report Technology
Deutsche Telekom And NVIDIA Partner To Build Industrial AI Cloud For European Manufacturers
June 13, 2025
5 Best Free AI Logo Makers of 2025: Class up Your Business with an Artificially Intelligent Designer
Digest Top Lists Markets Software Technology
5 Best Free AI Logo Makers of 2025: Class up Your Business with an Artificially Intelligent Designer
June 13, 2025