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    Ethereum Gas Limit Hits 15M as ETH Price Soars

    Abstract:Miners have raised Ethereum’s gas limit to almost 15 million for the first time in a bid to relieve transaction congestion at a time when on-chain activity is increasing with ether’s price (ETH) up 2.8% on the day to $2,456.
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      Miners have raised Ethereum‘s gas limit to almost 15 million for the first time in a bid to relieve transaction congestion at a time when on-chain activity is increasing with ether’s price (ETH) up 2.8% on the day to $2,456.

    微信截图_20210423093903.png

      The Ethereum gas limit sets a ceiling for how many operations can be included in each block. Before the increase, miners set Ethereums gas limit at 12.5 million until Ethereum creator Vitalik Buterin suggested raising it last week on Reddit, in light of recent code optimizations activated on the network.

    Eth-avg-gas-chart-775x500(1).jpg

      “Now that the chain is safer, we can increase the gas limit, which makes every application cheaper,” Buterin said.

      Increasing the gas limit allows more data to be included in each Ethereum block, which may contain a variety of operations such as peer-to-peer transfers of ETH, the creation of a new smart contract, or the exchange of fungible and non-fungible Ethereum-based tokens.

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