TLDR
- The Ethereum development team has transferred $75 million worth of ETH to the Kraken exchange.
- Ethereum validators increased the block gas limit from 45 million to 60 million after community support.
- Researcher Toni Wahrstätter confirmed the gas limit increase resulted from a year-long push by the Ethereum community.
- The increase was enabled by protocol upgrades, improved client performance, and strong testnet results.
- Vitalik Buterin supported the increase and suggested pairing it with higher costs for complex operations.
Ethereum’s development team has transferred another $75 million in ETH to Kraken. This follows a surge in on-chain activity. The transfer coincides with the gas limit increase and the upcoming Fusaka hard fork.
Ethereum Raises Block Gas Limit to 60 Million
Ethereum validators increased the block gas limit from 45 million to 60 million. GasLimit.pics data confirmed the adjustment. It took effect automatically on November 25.
More than half the validators approved the change, satisfying Ethereum’s consensus threshold. The move follows community demand for expanded throughput. Decentralized finance users and developers pushed for this change over the past year.
Toni Wahrstätter of the Ethereum Foundation confirmed the development on X.
“Just a year after the community started pushing, Ethereum is now running with a 60M block gas limit,” he posted. He called it a “2× increase” and said it was “only the beginning.”
Protocol Enhancements Enable Higher Throughput
Blockchain researcher Zhixiong Pan said three upgrades made the gas limit rise possible. He pointed to EIP-7623, client improvements, and testnet performance. All these aligned to allow safe scaling.
EIP-7623 introduced safeguards for block sizes. Client software also improved throughput performance. Testing showed consistent block propagation under increased load.
Pan added the changes enable more aggressive Layer 1 scaling. He said stability was not compromised. These conditions, he noted, help Ethereum scale safely.
Buterin Supports Tailored Optimization
Ethereum co-creator Vitalik Buterin commented on the development. He supported the higher limit but recommended future adjustments with increased gas costs. These would apply to complex or computationally heavy operations.
Buterin emphasized preserving network efficiency. He suggested careful tuning instead of uniform increases. He also advocated gas cost recalibrations for operations like heavy precompiles or arithmetic calls.
He said this approach helps manage effective block sizes. It also keeps the network stable. Future upgrades may follow this tailored model.
Scaling Networks Report 31,000 TPS
Ethereum scaling networks processed a combined 31,000 transactions per second. GrowThePie published this data. Rollups handled the majority of the load.
Lighter, a zero-knowledge rollup, led with 5,455 TPS. It holds $1.2 billion in total value locked. Base followed with 137 TPS.
Other rollups contributed consistent throughput. Each supported Ethereum’s broader scaling goals. These networks ease load on Ethereum’s base layer.
The Ethereum network is preparing for the Fusaka hard fork. Developers scheduled it for December 3. It follows successful testnet activations.
Fusaka introduces PeerDAS, which upgrades data availability sampling. Ethereum Foundation called this a key component for rollup scaling. Buterin also praised its design.
Fusaka includes client upgrades, consensus adjustments, and new security layers. A $2 million audit contest is ongoing. Final implementation will begin after the fork.
$75M ETH Sent to Kraken as Transfers Continue
On-chain records show another $75 million in ETH moved to Kraken. This raises concerns about continued team cash-outs. The transfers follow similar past movements.
Observers have tracked these transactions from known Ethereum Foundation-linked wallets. Each was split and routed before landing at the exchange. No public statement has been made.
The transfer occurred just days before Fusaka’s launch. ETH’s price rose 4.44% in the last 24 hours. The Ethereum team has not commented.
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