Ethereum Not Increasing Gas Limit: Are They “Digging Their Own Grave”?

Share This Post

Recent changes to Ethereum’s roadmap have drawn criticism from some in the community. Taking to X on January 2, Justin Bons, the founder of Cyber Capital, argues that removing the plan to increase layer-1 gas limits over time is a major misstep. 

Is Ethereum “Digging Its Own Grave”?

According to Bons, deciding not to pursue sharding and instead relying on layer-2 platforms like Arbitrum, Base, and OP Mainnet will “gradually see Ethereum dig their own grave.”

Ethereum price trending upward on the daily chart | Source: ETHUSDT on Binance, TradingView

The founder added that removing the phrase “increase layer-1 gas limits” entirely sends a clear signal to the market that “Ethereum is not scaling at all.” This decision, the founder continued, is a “punch to the gut for early adopters” who supported Ethereum based on the promise of scalability.

In Ethereum, the gas limit defines the maximum amount of gas used in a block. The higher it is, the cheaper the cost of mainnet transaction. This limit has been increased over time to help lower gas fees, especially during bull markets. As of December, this limit stood at 30 million gwei, according to Etherscan data.

Ethereum gas limit chart | Source: Etherscan

Bons also criticizes the Ethereum developers for referring to the chain as a “B2B” chain. By being an “enterprise chain” as implanted, it will price out normal users in favor of “rent-seeking” layer-2s and developers who own layer-2 tokens, harming the network in the long term. 

Should Sharding, Not Layer-2s, Be A Priority?

As deduced from the latest Ethereum developer call, the goal is to make the network a host for layer-2s. These layer-2s are primarily powered by roll-ups and other variants, some of which integrate zero-knowledge proofs for better privacy. 

Technically, roll-up solutions involve rerouting transactions to off-chain platforms where they are sequenced, validated, and later confirmed on the mainnet. In this arrangement, the mainnet, in this case, Ethereum, is relieved from the extra load–especially in times of high demand. Moreover, users enjoy lower transaction fees than they would have transacted on the mainnet. 

Even so, this route, Bons argues, will mean postponing sharding, though it is a critical part of Ethereum on-chain scaling. Sharding is a technique that will help Ethereum scale by splitting the mainnet into smaller units or shards. 

These shards will operate independently but will be overly interconnected. In this way, the mainnet will scale since these smaller chunks will process transactions independently, helping bring down transaction fees.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

XRP Ledger Booms: $44 Million In Transactions As Activity Soars

XRP has been experiencing a significant increase in on-chain activity, which has resulted in a recent surge in its popularity Analysts and investors have expressed interest in the XRP Ledger,

206 SEC registered funds hold Bitcoin ETFs including Canadian banks and Goldmach Sachs

According to 13F filings released so far for the past quarter, 206 companies listed in the US with over $100 million in assets invested have confirmed to the SEC ownership of spot Bitcoin ETF shares

Hong Kong Monetary Authority Cautions Public Over Overseas Crypto Firms Posing As ‘Banks’

The post Hong Kong Monetary Authority Cautions Public Over Overseas Crypto Firms Posing As ‘Banks’ appeared first on Coinpedia Fintech News The Hong Kong Monetary Authority, in its latest press

Why XRP Price is Surging Today?

The post Why XRP Price is Surging Today appeared first on Coinpedia Fintech News XRP the 7th largest cryptocurrency has experienced a whooping surge of around 15% over the last 24 hours, beating the

ETF Exodus: Bitcoin Funds Bleed $400M—What’s Next?

On Thursday, US spot bitcoin and ethereum ETFs hit a snag, snapping a streak of inflows Ethereum Funds Falter as Bitcoin ETFs Face $400M Outflow Bitcoin (BTC) saw a slight dip, slipping below

Norway Says ‘No Rush’ for Digital Currency

The post Norway Says ‘No Rush’ for Digital Currency appeared first on Coinpedia Fintech News While many countries are rushing to adopt central bank digital currencies (CBDCs), Norway is taking