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10% of Ethereum validators signal gas limit increase

Ethereum core developer Eric Connor said increasing gas limits could result in a 15% to 33% reduction in transaction fees.

The percentage of Ethereum validators signaling support for raising the network’s gas limit rose to 10% as the community rallied to increase the maximum amount of gas allowed to be spent for transactions to be included in a single Ethereum block. 

On Dec. 19, the number of validators signaling a gas limit greater than 30 million increased to 10% of the network. Before December, the percentage of validators signaling an increase in gas limit was a little over 1%. 

Ethereum gas limit signaling tracker. Source: gaslimit.pics

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Openseason Is a Thrilling Web3 Battle Royale

Bitcoin’s Computational Power Falls 9.95% After Record Hashrate

Bitcoin’s Computational Power Falls 9.95% After Record HashrateRecent metrics reveal that after Bitcoin’s network hashrate reached an all-time high of 693 exahash per second (EH/s) and saw a 3.58% difficulty increase, its computational power decreased this week. In the nine days since this peak, the hashrate has fallen by 9.95%. Bitcoin Miners Confront Economic Hurdles as Bitcoin Hashrate Dips Bitcoin miners are […]

Openseason Is a Thrilling Web3 Battle Royale

Bitcoin and Ethereum Fee Drop: The Perfect Time for Cost-Effective Transactions

Bitcoin and Ethereum Fee Drop: The Perfect Time for Cost-Effective TransactionsAlthough both bitcoin and ethereum have been cruising at lower prices compared to earlier this year, there’s been a silver lining: transaction fees on these leading blockchains have significantly decreased. With costs now sitting at notable lows, it could be the perfect moment to fine-tune transaction expenses for certain activities or even gather unspent transaction […]

Openseason Is a Thrilling Web3 Battle Royale

Report Disputes EIP-1559’s Role in Ethereum’s ‘Ultrasound Money’ Narrative

Report Disputes EIP-1559’s Role in Ethereum’s ‘Ultrasound Money’ NarrativeMark Odayan, head of research at 2077 Research, asserts that Ethereum’s EIP-1559 should not be equated with the concept of “Ultrasound Money.” Odayan’s insights aim to clarify the transaction fee mechanism introduced by EIP-1559 and address widespread misunderstandings. Ethereum’s EIP-1559: Mark Odayan Calls for Rethinking ‘Ultrasound Money’ Links In a detailed analysis by 2077 Research, […]

Openseason Is a Thrilling Web3 Battle Royale

Ethereum’s Gas Fees Remain Low While Network Turns Inflationary

Ethereum’s Gas Fees Remain Low While Network Turns InflationaryAccording to recent metrics, Ethereum’s onchain fees continue to stay impressively low, with the average transaction cost this weekend at just 0.00029 ETH or $0.743. Etherscan reports that even high-priority fees are under 1 gwei, sitting around 0.972 gwei as of press time. Additionally, ultrasound.money data reveals that Ethereum’s issuance rate is currently inflationary, clocking […]

Openseason Is a Thrilling Web3 Battle Royale

Bitcoin Block 857,911 Delivers $1.12M to Antpool as Miners Enjoy Fee Windfall

Bitcoin Block 857,911 Delivers .12M to Antpool as Miners Enjoy Fee WindfallOn Thursday, Bitcoin network fees took a significant leap, crossing the $100 mark shortly after 8:45 a.m. EDT. However, this spike was short-lived as fees quickly dropped, settling at just $0.34 per transaction by 7 p.m. EDT. Data collected from the day’s blocks revealed that a few fortunate bitcoin miners managed to snag some blocks […]

Openseason Is a Thrilling Web3 Battle Royale

Babylon Staking Sparks Bitcoin Fee Surge: Transfers Hit $105 Before Plummeting

Babylon Staking Sparks Bitcoin Fee Surge: Transfers Hit 5 Before PlummetingOn Aug. 22, Bitcoin’s onchain transaction fees took off, soaring to more than 1,250 satoshis per virtual byte (sat/vB), which translated to over $105 per transfer at 8:45 a.m. EDT. However, by 9:40 a.m. EDT on Thursday, fees had dropped to 625 sat/vB or $53.26 per transaction. Bitcoin Miners Rejoice as Fees Hit $105 The […]

Openseason Is a Thrilling Web3 Battle Royale

Ethereum Fees Plummet—Etherscan Adds Decimals to Keep Up With Gas Drop

Ethereum Fees Plummet—Etherscan Adds Decimals to Keep Up With Gas DropOver the past few months, both Bitcoin and Ethereum users have noticed a noticeable drop in transaction fees. Ethereum’s network transfer fees, in particular, have fallen to such low levels that Etherscan, a leading Ethereum block explorer, has recently added decimal points to its gas tracker after fees dipped below 1 qwei. Etherscan’s New Decimal […]

Openseason Is a Thrilling Web3 Battle Royale

Tough Times for Bitcoin Miners: First Half of August Yields Just a Fraction of July’s Profits

Tough Times for Bitcoin Miners: First Half of August Yields Just a Fraction of July’s ProfitsWith the first half of August in the rearview mirror, it’s clear that bitcoin miners are facing a challenging month, having only accumulated 36.36% of the total revenue they made in July. A combination of bitcoin’s price fluctuations and reduced onchain fees has left miners in a much tighter spot. Bitcoin Miners Face a Hard […]

Openseason Is a Thrilling Web3 Battle Royale