Skip to content
technology — Trading — Ethereum — Business — Staking — Finance — Elevate — Gas — Ycharts — Investing — Consensus — Scalability — Whale — Blockchain — Layer 2 — Proposes — Crypto exchange — Protocol — Throughput — Crypto — Ico — Layer 1

Increase in Transaction Processing Speed for Ethereum with EIP-9698 Proposal: Essential Insights into the EIP-9698 Plan

Proposal put forth in EIP-9698 aims to amplify Ethereum's gas limit by a factor of 100 over a period of four years, with the intention of improving scalability and augmenting transaction speed.

,   and  Administrator
3 min read

Increase in Transaction Processing Speed for Ethereum with EIP-9698 Proposal: Essential Insights into the EIP-9698 Plan

Here's a fresh take on that Ethereum (ETH) scaling proposition:

Ethereum's Gas Limit Exponential Boost: Dankrad Feist Unleashes EIP-9698

Get ready for a seismic shift in the Ethereum (ETH) network, thanks to a groundbreaking proposal by reasearcher Dankrad Feist: Ethereum Improvement Proposal (EIP-9698). This proposition seeks to skyrocket Ethereum's gas limit by a jaw-dropping 100-fold over the course of four years. If successful, this could potentially catapult Ethereum's transaction throughput to an impressive 2,000 transactions per second (TPS)!

EIP-9698: Boosting Ethereum's Speed and Capacity

Currently, Ethereum's gas limit stands at 36 million, supporting a modest 14-20 TPS, with a theoretical maximum of 119 TPS. Competing networks, like Solana (SOL), already achieve 800 to over 1,000 TPS, and in theory, Solana can reach a staggering 65,000 TPS!

Feist's EIP-9698 targets a staggering gas limit of up to 3.6 billion, allowing blocks to accommodate approximately 6,000 transactions. To achieve this, he proposes a "deterministic gas limit growth plan," due to kick off around June 1, 2025.

A Step-by-Step Scaling Strategy

The EIP-9698 blueprint offers a systematic plan for a gradual, predictable increase in Ethereum's gas limit. This plan is based on client-side defaults:

  1. The gas limit will increase at each beacon chain epoch, with a factor-of-10 increase approximately every 2 years.
  2. Over the course of four years, the gas limit will grow significantly, offering the network more breathing room to handle transactions.

This approach ensures a sustainable and transparent gas limit trajectory, aligned with anticipated advancements in hardware and protocol efficiency.

Staying Ahead of the Game

By adopting EIP-9698, Ethereum could remain a powerful contender in the blockchain space, bridging the current throughput gap with rival networks. The plan follows the earlier radical suggestion by Ethereum co-founder to replace Ethereum's EVM with RISC-V to address long-term scalability challenges.

In other Ethereum-related news, the Pectra upgrade will go live next week, enhancing scalability, reducing Layer 1 fees, optimizing data storage, and boosting Layer 2 transaction efficiency. These changes are designed to promote validator participation, support wider adoption, and facilitate further network scaling.

As always, trade responsibly, and verify information independently before making decisions. Happy trading!

Crypto Exploration: dYdX, TonTrader, Arkham, BingX, HTX and more

  1. Dankrad Feist has put forth a proposition, Ethereum Improvement Proposal (EIP-9698,) that aims to boost Ethereum's gas limit and transaction throughput significantly.
  2. This proposal seeks to increase Ethereum's gas limit up to 100-fold over four years, potentially elevating its transaction throughput to an impressive 2,000 transactions per second (TPS.)
  3. While Ethereum's current gas limit stands at 36 million, allowing for only 14-20 TPS, competing networks like Solana (SOL) have already achieved 800 to over 1,000 TPS.
  4. EIP-9698 proposes a "deterministic gas limit growth plan" that will enable blocks to accommodate approximately 6,000 transactions through a large gas limit of up to 3.6 billion.
  5. This plan involves a systematic, gradual increase in Ethereum's gas limit over four years, based on client-side defaults, with a factor-of-10 increase approximately every 2 years.
  6. Upon successful implementation, Ethereum could maintain its standing as a strong competitor in the blockchain industry, bridging the gap in throughput with rival blockchains.
  7. The Pectra upgrade, set to launch next week, will enhance scalability, reduce Layer 1 fees, optimize data storage, and boost Layer 2 transaction efficiency.
  8. These changes aim to promote validator participation, encourage wider adoption, and facilitate further network scaling.
  9. As with any investment in the crypto space, traders are advised to trade responsibly and independently verify information before making decisions.
  10. Successful implementation of proposals like EIP-9698, along with technology advancements and future protocol upgrades, could elevate the crypto exchange business and crypto investing.
  11. To monitor the progress of these changes and stay informed about the latest news in the blockchain industry, resources like YCharts and financial analysis tools can be useful for businesses and independent investors alike.
Ethereum's gas limit could undergo a 1000-fold expansion over a four-year period, as per EIP-9698, aiming for improved scalability and elevated transaction processing speed.
Raising Ethereum's gas limit by a factor of 100 over a four-year period, as suggested by EIP-9698, aims to enhance scalability and exceptionally boost the network's transaction capacity.

Read also:

    Related

    Latest