On March 20, Eric Connor, core Ethereum developer and former head of smart contracts at MakerDAO Mariano Conti, launchedwebsiteA new initiative called ‘pump the gas’ increases the Ethereum gas limit from 30 million to 40 million, which they say will reduce transaction fees on L1.
“This can result in a 15% to 33% reduction in layer 1 transaction fees,” Connor sayin a March 19 post on X, before adding, “We are calling on solo stakers, client teams, pools, and community members to help.”
Hashtags #pumpthegas Starting to receive support from users Ethereumstaker , and DeFi investor on X already by Conti alsoObserveAdditionally, Rocket Pool validator proposed a block with a gas limit of 40 million on March 20.
Calls for increasing Ethereum’s gas limit have been gaining traction over the past few months. Back in January, Ethereum co-founder Vitalik ButerinrecommendIncrease Gas Limit from 30 million to 40 million.
Ethereum gas limit refers to the maximum amount of gas used in a transaction or smart contract in each block. Gas is the fee required to complete a transaction or smart contract on the network.
“Increasing the gas block limit by 33% allows Layer 1 Ethereum to process 33% more transaction load in one day.”
It also noted that data blobs, introduced in the Dencun upgrade with EIP-4844, also significantly reduce layer 2 transaction fees, but not layer 1 fees. “The combination of blobs and gas limit increases can It helps scale both L1 and L2 of Ethereum.”
However, not everyone in the community supports the reshuffle, with Evan Van Ness, a venture capitalist and Ethereum supporter, saying he disagrees.
refer : cointelegraph.com
picture theblock.co
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