MOORE IS MORE. Ethereum co-founder Vitalik Buterin, the de facto high priest of the world’s largest smart-contracts blockchain, tossed out last week on a Reddit “Ask Me Anything” that it would be “reasonable” to raise the network’s “gas limit” – a very technical way of referring to the amount of transactions that can get jammed into each new block. He suggested an increase to “40M or so,” implying a 33% increase over the current limit of 30 million gas. (Yes, for the underinitiated, a unit of gas, in this context, is just… a gas.) The main reason this is now possible, according to Buterin, is Moore’s law – the observation that computing power seems to double every year. That’s relevant because of the amount of data that it takes to store Ethereum’s “state” – the complete record of the blockchain’s history; as computers become more powerful, they should theoretically be able to handle the higher transaction capacity – potentially helping to reduce fees for end-users. “There appears to be a constructive willingness to explore this topic further,” analysts at Coinbase Institutional wrote. But some members of the Ethereum community have raised yellow flags. Péter Szilágyi, an Ethereum developer, tweeted that such an increase could slow the network’s “sync time.” Galaxy Research’s Christine Kim wrote in a weekly newsletter that “larger blocks would certainly
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Author: Bradley Keoun
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