Ethereum miners raise network’s gas limit by 25%

According to The Block, Ethereum miners are increasing the network's gas fee limit from 10 million to 12.5 million in response to increased network utilization.

According to Etherscan data, the current gas fee cap is hovering around 12 million. In response, Bitfly, the parent company of Ethereum mining pool Ethermine, said that with the increase in gas fee limits, Ethereum will be able to process approximately 44 transactions per second instead of 35. However, the increase in the gas cap also increases the resources required to run and maintain nodes to verify transactions on the network.

Original link: https://www.theblockcrypto.com/linked/69053/ethereum-miners-vote-for-25-gas-limit-increase