Ethereum Miners (ETH) are currently voting to increase their gas cap from 10,000,000 to 12,500,000, according to a recent tweet from Bitfly, parent company of Ethermine Group.
What is the gas and gas limit?
Gas is a device that measures the amount of computational effort required to send a transaction or take other actions to the blockchain Ethereum. This is expressed in Gwei, or very small shares of ETH.
The mass gas limit, in turn, is the gas threshold that can be used in mass transactions.
How can this survey affect the network?
If the vote is passed, theoretically increases the overall network capacity and reduces fees. In particular, according to Bitfly’s estimates, the Ethereum blockchain will start processing about 44 transactions per second, while it is currently processing 35 transactions per second on average. The company called this high-speed cams “a huge milestone for society.”
However, the increased gas limit also has some potential drawbacks. When the limit increases, miners take longer to process each block, resulting in what are called “uncle blocks.” This occurs when two miners create one block at a time, and only one of these blocks joins the blockchain, which basically leads to additional work for the miners.
As Anton Bukov, 1inch technical director, previously explained to Cointelegraph, there is also the possibility of overloading nodes running on the network:
For contract attacks, you can use inexpensive operations, but require a large amount of resources. […] If the transaction takes 10-15 seconds to process, the contract will be completely suspended. ”
Increasing the gas limit can double the nodes leaving the grid, which may make them less decentralized. “For this reason the limit has been conservatively raised, and until then, as a rule, this is done after achieving some results of improvement in client applications,” Bukov said at the time.
Society poured to vote
The latest initiative was met with strong opposition from some members of society. Core Ethereum developer Peter Silage summarized Bitfly’s tweet as follows:
TL; DR: Ethereum Miners are not reporting anything about long-term network health or DoS attacks.
A co-founder of Ethereum Vitalik Buterin also joined in the discussion. According to him, a spokesperson for the ETH Sparkpool mining pool about six weeks ago asked if he supported an increased gas reduction. He said he did not, and he cited Zelazji’s views on this matter. Putrin’s position seems to have changed since he wrote:
“However, the last six weeks of high fees have put real pressure on people, so I don’t blame them for this decision.”
The independent researcher on the scalability of the blockchain Georgios Constantopoulos wrote that he was against the additional increase in block size and “should be,” adding:
“You cannot measure the system by increasing the block size.”
On the other hand, 1-inch Pukov seems to support the miners’ initiative. He told Cointelleg:
“You have to worry about the network’s convenience to society, not about the state’s acceleration in the long run. Otherwise, it will affect Ethereum’s competitiveness, and many projects have started thinking about moving to branching chains or other networks.”