Researcher Dankrad Feist from the Ethereum Foundation has launched a new proposal: EIP-9698. This proposal must scour the network drastically by exponentially increasing the gas limit. Although the proposal has not yet been adopted, it would mean a huge leap for the Ethereum (ETH) network.
What exactly does EIP-9698 entail?
The gas limit of Ethereum is currently around 36 million, good for around 14 to 20 transactions per second (TPS). For comparison: competitor Solana is currently achieving between 800 and 1,000 TPS. With EIP-9698, Ethereum would make the gas limit to no less than 3.6 billion in four years, which would make a theoretical capacity of 2,000 TPS possible.
Feist introduces a “deterministic growth plan,” that starts from Epoch 369017, around 1 June. The gas limit is then automatically increased with each epoch according to an exponential schedule. Every two years the limit will increase about a factor of ten. This structured approach must provide Ethereum with a predictable and sustainable scalability.
Benefits and risks for ETH
According to Feist, this model offers more coordination than the current system, where miners and operators vote on the increase in gas limit. “By introducing a predictably exponentially growth path, a sustainable and transparent development of the gas limit is stimulated,” says Feist.
Important to know: the proposal is fully backward compatible. Clients who do not implement the EIP continue to function. Users do get the option to adjust the standard settings manually if desired.
In terms of safety, Feist notes that the rapid increase in gas limit can put pressure on the least optimized nodes. Nevertheless, he emphasizes that the very gradual increases give node operators sufficient time to adapt.
If EIP-9698 is hired, Ethereum can make a serious leap towards massive adoption. The timing of this proposal is no coincidence: next week the long-awaited pectra upgrade is also planned. This upgrade increases the Blob-throughput, lowers Layer 1 costs, increases the flexibility for validators and optimizes the data storage.
Source: https://newsbit.nl/nieuwe-ethereum-upgrade-kan-voor-honderdvoudige-opschaling-zorgen/
