Ethereum Gas Limit Increases As Validators Back Network Expansion
Ethereum's gas limit increased to over 37.3 million units, up nearly 3% from the previous week, as validators supported raising it to 45 million units. This marks the first significant increase since February. Higher gas limits enhance transaction throughput, allowing Ethereum to process just below 18 transactions per second, up from around 15. Nearly 50% of staked Ether validators support the "pump the gas" campaign aimed at raising the limit. The gas limit determines the maximum gas for transactions or smart contracts per block, with recent improvements in the Geth client making these increases safer. Ethereum's network activity rose from 1.1 million daily transactions in April to approximately 1.4 million, coinciding with a 54% price increase, briefly reaching over $3,800.
