min to read

2019-09-16 11:56:54




News

Ethereum gas limit hit historic high

The Ethereum gas limit has broken 8.1 million

min to read

2019-09-16 11:56:54

The Ethereum gas limit has broken 8.1 million for the first time with the support of 50% of miners.

The Ethereum gas limit has broken 8.1 million for the first time 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.

 


 

At the same time, the support of the first three is enough to raise the limit to 10 million.

 

 

The miner who mined the block can raise the gas limit by a maximum of 1/1024 from the previous value.

 

 

What is gas? This is a unit of measurement of the computing power required to make a transaction or implement a smart contract on the Ethereum network.

 

What is the gas limit? This is the maximum number of units of gas you want to spend on a transaction. The higher the limit, the more calculations you need.

 

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 the block's bandwidth. It can accommodate more transactions.

 

Let us remind that Istanbul hard fork activation in the test network is scheduled for October 2.

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