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.
Mining pools Spark Pool, F2Pool and Ethermine supported the growth of the limit by voting, but Nanopool opposed it.
Moreover, the support of the first trinity is enough to raise the limit to 10 million.
The miner who mined the block can increase the gas limit by only 1/1024 from the previous value.
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.
