Galaxy Research, a subsidiary of Galaxy Digital Holdings, Ethereum $3,988.5 Participated in discussions about increasing the gas limit. Starting in January, developers pointed out the need to implement this change to the mainnet. Vitalik Buterin, one of Ethereum’s co-founders, also supports a 33 percent limit increase. However, Galaxy Digital wants to consider more factors when taking this step.
Ethereum Gas Limit Increase: Is It the Right Time?
According to Christine Kim of Galaxy Research, supporting arguments were also presented at the most recent Ethereum developer conference. Nethermind developer Marek Moraczyński presented data-driven research showing why the increase is justified and safe for the protocol.
Kim stated that “The block gas limit will not affect the blockchain.” Many studies have emphasized that increases above 25 percent invalidate claims that increases could overload the network.
On the other hand, Christine Kim said, “It is likely that this change will not provide any material benefit to Ethereum.”
Increasing Layer 1 Competition
Over the last year, various Layer 1 blockchain networks have announced plans to upgrade their chains. Vitalik Buterin shared his visions for ETH to scale over the next decade.
While Ethereum has gained the majority in the industry by using the power of layer-2 scaling solutions, other chains are also showing their own strengths.
Recently, Cardano 
$1.2 It turned out that the Hydra protocol reached 1 million transaction volumes every second in test mode. This figure, Cardano’s scaling tool, would make the protocol the fastest in the industry if implemented in the real world.
Other chains such as Solana, SUI Network and XRP Ledger also maintain their strengths in an increasingly competitive environment.
As a result, while discussions about increasing the Ethereum gas limit continue, Galaxy Research stated that current conditions are not suitable for this change.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
