Vitalik Buterin, the co-founder of Ethereum (CRYPTO: ETH), has put forward a proposal to increase the Ethereum block gas limit by a substantial margin, which could augment the network’s capabilities.

What Happened: According to a report by The Block, Buterin, during a Reddit AMA session, proposed an increase of the Ethereum block gas limit by 33.3%, which would raise it from the current 30 million to 40 million units of gas. Such a move would enable more transactions to be carried out within every Ethereum block, thereby enhancing the network’s capacity. Buterin during the AMA said that the existing gas limit has not changed for nearly three years.

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Meanwhile, Jesse Pollak, Coinbase protocols lead, expressed his strong support for this change, stating, “I’m strongly in support of increasing the Ethereum gas limit to 40-45M — we have the network headroom and it will be beneficial for all parties.” It’s worth noting that, unlike several Ethereum modifications that necessitated hard forks, this increase in the Ethereum block gas limit can be implemented by validators adjusting their node configurations.

Why It Matters: This proposal comes in the backdrop of Buterin’s earlier warning against the use of excessive leverage in cryptocurrency investments.

Earlier, In November Buterin in a blog post said, “This is an extreme claim: as much harm as the worst-case scenario of climate change, or an artificial pandemic or a nuclear war, might cause, there are many islands of civilization that would remain intact to pick up the pieces.”

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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