The Ethereum network has executed a significant increase to its gas limit, raising it to 37.3 million. This change enables the blockchain to process more transactions per block, enhancing overall throughput. Stakeholders are actively debating a proposal to push the limit further to 45 million, with nearly half of the participating stakers signaling their support.
The increase was facilitated by the recent upgrade to the Geth client software, version 1.16.0. Released late June, this update significantly reduces the hardware requirements necessary to run an Ethereum node. By making node operation more accessible and optimizing resource usage, the upgrade contributes substantially to the network’s scalability and fosters broader participation.
These developments are part of Ethereum’s ongoing multi-phase strategy to boost network capacity and efficiency. They follow the successful implementation of the Dencun upgrade and precede the anticipated changes outlined in the Pectra development roadmap.
Concurrently, Ethereum’s position in global markets has strengthened considerably. The cryptocurrency’s total market capitalization recently surpassed that of traditional financial giant Vanguard Group, securing the 28th spot globally among asset valuations. The price of Ethereum also surged, exceeding $3,750, marking a new peak for the year and reflecting a significant 6.14% gain within 24 hours.