Ethereum miners increase gas limit capacity
Following the Berlin hard fork, Ethereum miners have started increasing network capacity to 13 million gas. This is up from the year-long limit of around 12.5 million.
Bitfly, the parent company of Ethermine, one of the biggest mining pools took to Twitter on Tuesday to announce that the gas limit was being increased from 12.5 million to 15 million.
Data on Etherstats shows that the current gas limit is around 14.5 million, suggesting that most miners have already jumped on the increase.
For clarity, only 51% of miners need to vote for the higher gas limit to take effect.
Regarding the effect of the planned gas limit increase, one Twitter user explained that the upgrade would allow more transactions to go through each block. This could either lower transaction fees or decongest the network.
But while the Berlin upgrade and the increase in gas limit have the potential to ease the stress on the Ethereum blockchain, it is not enough to eliminate high gas fees. Gas fees are still high. As of press time, the average transaction fee for the Ethereum network was over $25. However, many people are hopeful that the upcoming EIP-1559 upgrade will solve this problem.