Ethereum gas limit hit historic high

The gas limit in the Ethereum network was first surpassed by 8.1 million with the support of 50% of miners.

Almost exactly 50% of miners are upvoting the gas limit right now; it just broke 8.1 million for the first time. pic.twitter.com/jn5jPg7dgs

– Vitalik Non-giver of Ether (@VitalikButerin) September 15, 2019

Mining pools Spark Pool, F2Pool and Ethermine supported the growth of the limit by voting, but Nanopool opposed it.

Etherchain data

Moreover, the support of the first trinity is enough to raise the limit to 10 million.

Given the current #Ethereum network congestion we have started to test raising the block gas limit to 10M gas.

– Bitfly (@etherchain_org) September 14, 2019

The miner who mined the block can increase the gas limit by only 1/1024 from the previous value.

The miner of a block can raise or lower the gas limit by a maximum of 1/1024 of its current value.

– Vitalik Non-giver of Ether (@VitalikButerin) September 15, 2019

What is gas? This is a unit of measurement of the computing power needed to complete a transaction or implement a smart contract on an Ethereum network.

What is the gas limit? This is the maximum number of units of gas that you want to spend per transaction. The larger the limit, the more calculations are needed.

How is the commission calculated? The transaction commission is the product of the gas limit on the gas price in gwei (millionth of an ETH).

What does limit increase mean? This means an increase in bandwidth. It can accommodate more transactions.

Recall, Istanbul hard fork activation in the test network is scheduled for October 2.

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