ETH Blockchain Is Almost Full – Miners Are Voting For Gas Limit Increase.

Ethermine has finally begun voting in line with Spark Pool and F2Pool and is now voting to raise the gas limit at ethereum blockchain. They state:

“Given the current Ethereum network congestion we have started to test raising the block gas limit to 10M gas.”

The limit is currently at 8 million gas accounting units but is starting to go up, making this 2 million a 25% increase.

Nanopool looks like it is still voting it down, but the first three pools is all thats required to increase capacity.

This should give some breathing room ahead of the move to ethereum 2.0, a grand scale upgrade that will transform ethereum into a new generation blockchain with potential capacity of 1024x more.

Work on that upgrade is apparently going surprisingly well, with pretty much all clients now “talking” to each other about their blocks.

ETH 2.0 teams seem very optimistic after what looks like a very productive one week meeting with the January target date now potentially being met.

That’s the beginning of a transformation, but in the meantime ethereum is finding quite a bit of usage, with the first tokenized bond process detailed recently.

To facilitate some breathing room, miners are now increasing eth’s equivalent of the blocksize which currently runs at 800kb per ten minutes.

Soon it will be at that magic number of 1MB, with a potential doubling of it to 2MB down the road, so putting it in line with bitcoin’s blocksize.

That should give some space as January 2018 starts perhaps giving way to January 2020.