Is Ethereum Price At Risk with 10% Validators Supporting Gas Limit Change?

The post Is Ethereum Price At Risk with 10% Validators Supporting Gas Limit Change? appeared on BitcoinEthereumNews.com.

Ethereum validators are increasingly signaling support for raising the network’s gas limit, sparking debates about scalability, decentralization, and security. But, what will lead Ethereum price action going forward? As of today, 10% of validators have backed raising the gas limit above 30 million, a significant rise from just over 1% earlier this month.  Supporters claim such a change could cut transaction fees by 15 to 33%, but others warn it could also pose risks to the stability of the network. The Ethereum community is pushing for an increase in the network’s gas limit. Currently, 10% of validators support raising the gas limit to more than 30M, which is expected to reduce Ethereum transaction fees by 15% to 33%. However, raising the gas limit too quickly may pose a… — Wu Blockchain (@WuBlockchain) December 19, 2024 Ethereum Validators Push to Raise Gas Limit for Lower Fees The effort to raise Ethereum’s gas limit continues with validators and developers trying to bring down high transaction fees on the network. Former MakerDAO head Mariano Conti, together with core developer Eric Connor, launched the “Pump The Gas” initiative calling for the gas limit to be increased to 40 million. According to them, with a higher gas limit, user experience could be improved greatly by slashing Layer-1 transaction fees by almost 33% or more. Today, @nanexcool and I are launching an effort to help raise the Ethereum gas limit from 30mn to 40mn This can result in a 15-33% reduction in L1 tx fees We are calling on solo stakers, client teams, pools and community members to help#pumpthegas https://t.co/TYoyI35cle — eric.eth (@econoar) March 19, 2024 In its initiative, it asks solo stakers, client teams, and validators to support this increase, citing that the constraints on gas at the moment hold back Ethereum’s growth. A few…