Ethereum Increases Gas Limit for the First Time Since 2022 – Trump Son Praises ETH
Ethereum has increased the gas limit to 121 million, making processes on the blockchain cheaper. The community had long argued for this step, and even Donald Trump Jr. has chimed in with praise.
For Ethereum, data suggests that the number of network processes is rising again, signaling more use. The pending situation was that executing many smart contracts and microtransactions on Ethereum became more uneconomical because the so-called gas fees skyrocketed. With these charges, Ethereum secures that the network runs smoothly, but excessive costs deter users. In July, ETH costs were on average at 1.84 US dollars per transaction, and this month they already rose further.
Now, as before, Ethereum adapts the gas limit, which determines how many processes can be carried out on the blockchain per time unit. The gas limit has now been increased by 20 percent to 121 million in a decision that affects the mainnet. Previously, the gas limit was set at 100 million since April 2022. According to Ethereum developers, the increase should have short-term effects, making transactions cheaper again, though they expect further tensions on the network in the long term.
On the institutional side, Donald Trump Jr. surprisingly commented on Ethereum. He emphasized ETH positively as an example of a decentralized network that could support free and fair elections in the US. The son of former President Donald Trump did this on Twitter, where he hyped Ethereum as a non-partisan alternative for modernizing the democratic voting process.
With regard to Ethereum’s price curve, the new gas limit did not significantly affect ETH initially. Currently, ETH trades at about 1,620 US dollars and thus remains in a sideways trend. Observers believe that for Ethereum, optimism about further adoption and technical advances like the introduction of sharding weigh more heavily than a mere gas limit for the investment decision.
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