Vitalik Buterin praises Ethereum’s L1 scaling as over 50% of validators show interest

Following the 2024 Dencun upgrade, Ethereum [ETH] has notably shifted its attention towards L2 scaling solutions, particularly focusing on enhancing its L2 capabilities for more cost-effective transactions through blobs.

Nevertheless, critics have attributed a depletion of value from the base layer 1 to the increased popularity of cheaper L2 transactions.

Concurrently, Solana’s[SOL] competitive pricing and impressive scalability, particularly with the introduction of Firedancer, pose a threat to Ethereum’s market position.

More than 50% of ETH Validators Advocate for Gas Limit Expansion

Presently, Ethereum development teams are advocating for the simultaneous scaling of both L1 and L2 to ensure they stay competitive in the market.

An interesting development came to light when Ethereum educator Anthony Sossano revealed that a significant majority of validators are in favor of raising the L1 gas limit (the number of transactions per block).

Sossano mentioned,

“Ethereum is scaling as over half of the network currently supports increasing the gas limit – a commendable achievement!.”

Enhancing gas limits essentially translates to a higher number of transactions accommodated per block, thus directly contributing to improved scalability.

Noteworthy is the endorsement of L1 scaling initiatives by Consensys and Ethereum’s founder, Vitalik Buterin. Buterin expressed,

“L1 is undergoing significant scaling. Hats off to the developers dedicated to advancing EIP-4444 (history expiry), fostering statelessness, and enhancing client efficiency, among other crucial features that will encourage decentralization while raising L1 gas limits.”

Furthermore, Buterin emphasized that the utilization of blobs will enhance L2 scaling by twofold following the imminent Pectra upgrade. He elaborated,

“The upcoming Pectra release in March will elevate the blob target from 3 to 6, effectively doubling L2s’ capacity. In my opinion, we should consider making the blob target subject to stakeholder voting, allowing for responsive adjustments based on technological advancements without waiting for hard forks.”

On the horizon is the potential actualization of a gas limit exceeding 32 million due to the support voiced by a majority of validators (over 50%). Should this proposal materialize, Ethereum’s scalability endeavors are poised to receive a considerable boost.

It’s crucial to note that despite the recent surge in institutional interest, cryptocurrency analyst Joao Wedson highlighted a noticeable decline in demand from early Ethereum adopters ahead of the Merge.

Wedson described the Merge as detrimental to ETH, stating,

“The Merge has arguably been detrimental to Ethereum. Both short-term and long-term holders ceased accumulating ETH since September 2022.”

Expanding on his point, he added,

Whether the intensified focus on L1 and L2 scaling will positively influence Ethereum’s market sentiment remains uncertain.