Ethereum Community is Confused: They Want Limits to Increase! What are the Risks? - Coin Bulletin

Efforts to increase the maximum gas amount that can be spent on a transaction in a block on the Ethereum network continue to seek support from the community.

The percentage of validators supporting the increase of the gas limit beyond 30 million reached 10% as of December 19th. This rate was just over 1% before the December.

Why do they want to increase the gas limit?

The Ethereum community advocates increasing the gas limit to 36 million. It is stated that this change could reduce transaction fees by 15% to 33%. The initiative “Pump The Gas” was founded in March by Ethereum developer Eric Connor and former smart contracts president of MakerDAO, Mariano Conti, to support the increase in the gas limit.

Connor and Conti argue that this change will provide a more accessible solution for more users by reducing layer-1 transaction fees on the Ethereum network.

Ethereum researcher Justin Drake supports this proposal. Drake stated that this 20% increase will enable the network to operate more efficiently.

It also brings along risk

While the support for increasing the gas limit is growing, there are also voices raising concerns about the risks. Toni Wahrstätter, a researcher at the Ethereum Foundation, warned that rapidly increasing the gas limit could pose serious risks to the security and stability of the network.

The ‘Pump The Gas’ initiative also highlighted these risks, emphasizing that Ethereum’s main goal is to remain decentralized. According to the site, increasing the gas limit more than necessary could make it difficult for solo node operators to verify the network.