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Ethereum’s newly proposed EIP-9698 with major upgrades promises faster transactions, lower fees, and improved scalability.
On April 27, Dankrad Feist from the Ethereum Foundation updated the Ethereum network protocol with the EIP-9698 proposal. This plan will increase the network’s gas limit gradually, making it 100 times larger over the next four years. It could raise Ethereum’s transaction capacity to about 2,000 transactions per second (TPS).
The proposal outlines a clear plan to gradually increase the gas limit starting from June 1, 2025. This plan includes several phases: an initial 10-time increase over the first four years. After that, there will be another 10 times increase, raising the gas limit from the current 36 million to 3.6 billion.
This upgrade could help Ethereum blocks handle up to 6,000 transactions, a big improvement from the current limit of about 20 TPS. This change would make the network faster and help Ethereum compete better against quicker chains like Solana and the BNB Chain.
Source: Chainspect
As Ethereum develops, EIP-9698 could lead to one of the most important advancements in scaling since The Merge. This change could open the door for a new age of fast and efficient decentralized applications.
