ETH 2.0 raises gas limit for the first time since transitioning to Proof of Stake mechanism

PANews reported on February 4th that Ethereum (ETH) has reached a Consensus to increase the Gas limit of the network. 50% of validators support this change to help improve the network's scalability. The Gas limit is a key parameter that determines the network's transaction capacity. The previous Gas limit was 30 million, and it has now exceeded 31 million. Gas limit adjustments require the approval of over half of the validators to take effect, and this adjustment was completed yesterday. Once more than 50% of the validators express their support, the block's gas limit will be automatically adjusted without the need for a hard fork. This is the first time such a change has been implemented in the Ethereum blockchain under the Proof of Stake (PoS) consensus mechanism. The last adjustment occurred in 2021, when the gas limit doubled from 15 million units to 30 million units. According to the data from gaslimit.pics, the average gas limit in the past 24 hours is 31.5 million units, and it is expected to be adjusted to a maximum of 36 million units. Despite the recent scalability improvements introduced by Dencun upgrade and proto-dank shard technology, increasing the gas limit is still necessary due to the growing demand and complexity of decentralized applications on the Ethereum network.