Ethereum Network Seeing Increased Throughput as Validators Push for Higher Gas Limits

Ethereum's transaction throughput has seen a boost recently as validators show support for increasing the gas limit to 45 million units. The higher gas limit will result in reduced transaction fees and improved network scaling for Ethereum. Sunday saw the gas limit rise to over 37.3 million units, up almost 3% from the previous week, with several blocks proposed with higher gas limits. This significant increase in the gas limit is the first since February when it was raised from 30 million to 36 million. With higher gas limits, more transaction throughput can be achieved on Ethereum's layer-1 network. Validators are able to adjust the limit by about 0.1% per block when they signal support for changes. Ethereum's transaction throughput reached just below 18 transactions per second over the weekend, showing an increase from the last gas limit adjustment when TPS was around 15. Nearly half of all staked Ether (ETH) is now signaling support to raise the gas limit to 45 million or higher through a grassroots campaign known as "pump the gas." Vitalik Buterin observed that almost 50% of staked validators are voting in favor of increasing the gas limit to 45 million. The gas limit refers to the maximum amount of gas spent on executing transactions or smart contracts in each block, with gas being the Ether fee required to conduct transactions or execute smart contracts on the network.