In a groundbreaking move, researcher Dankrad Feist from the Ethereum Foundation has put forth the Ethereum Improvement Proposal (EIP-9698) with the objective of expanding the mainnet's capacity by significantly boosting its gas limit.
The proposal advocates for a remarkable 100-fold rise in the gas limit over a span of four years. Such an increase could potentially boost Ethereum's transaction processing capability to 2,000 transactions per second (TPS).
Currently, Ethereum's gas limit is at 36 million, sustaining a TPS range of 14-20, with an upper limit of 119 TPS. Comparatively, competitors like Solana can achieve TPS rates of 800 to over 1000, with a theoretical ceiling of 65,000 TPS.
EIP-9698 suggests elevating the gas limit to 3.6 billion, enabling blocks to accommodate about 6,000 transactions. Feist introduces a gradual "deterministic gas limit growth plan," commencing around June 1 from epoch 369017.
Under this plan, Ethereum's gas limit will increase predictably over time based on default client-side settings. Clients will vote to raise the gas limit according to an exponential schedule, with significant growth occurring every 164,250 epochs (roughly 2 years) over a 4-year period.
This method ensures a controlled and scalable adjustment of the network's capacity amidst increasing demand. By following this approach, Ethereum's TPS could potentially soar to 2,000 transactions.
The proposed change is non-consensus and backward compatible, ensuring that clients not implementing the EIP can continue operating without disruption. The default behavior will shift, though manual configuration options will still be available.
Feist emphasized the need for gradual increments in the gas limit to allow node operators and developers ample time to adapt and optimize their systems. Implementation of EIP-9698 could position Ethereum as a more robust player in the blockchain domain, narrowing the gap in transaction throughput with other networks.
Additionally, the upcoming Pectra upgrade is set to enhance Ethereum's scalability by improving transaction throughput, reducing fees on Layer 1, enhancing validator flexibility, and optimizing data storage. These enhancements will bolster Layer 2 transaction efficiency, foster validator engagement, and foster broader network adoption and scaling.