Proposal introduced by Vitalik suggests significant shift for Ethereum: Gas restrictions proposed
In a bid to enhance the predictability of transaction execution and improve network security, Vitalik Buterin, co-founder of Ethereum, has proposed a new initiative called EIP-7983. This proposal aims to impose a hard gas limit of 16.77 million units per transaction on Ethereum.
Currently, a single transaction can consume the entire block gas limit, potentially leading to risks to the network's stability and possible denial-of-service (DoS) attacks. EIP-7983 seeks to address this issue by introducing a restriction at the individual transaction level.
The purpose of this gas limit is to enhance network resilience and security, promote more stable and predictable transaction processing, and support complex smart contracts and DeFi operations without compromising performance. The chosen ceiling accommodates most current advanced use cases without requiring major changes from existing users or decentralized applications (dApps).
Moreover, this measure would facilitate integration with emerging technologies such as zero-knowledge virtual machines (zkVMs). By limiting gas per transaction, Ethereum can better integrate innovations like zkVMs and roll-ups, which require efficient, modular execution.
Vitalik Buterin's broader vision linked with EIP-7983 involves simplifying Ethereum’s consensus, execution, and shared components to reduce complexity, development costs, and security vulnerabilities over the next five years. This gas limit proposal forms part of this ongoing effort to make Ethereum leaner and more robust.
It's important to note that EIP-7983 is a surgical measure designed to prevent abuses without affecting the general functioning of the network. The new proposal focuses on controlling excessive gas use at the transaction level without modifying the global block limit.
Buterin also defends the use of copyleft licenses to preserve the original collaborative spirit of Ethereum and Web3. He summarizes copyleft as being freely shared with those who are also willing to freely share.
In summary, EIP-7983 is designed to impose a hard gas limit per transaction of 16.77 million units to safeguard Ethereum against gas resource monopolization, bolster network security, enhance performance consistency, and facilitate future technical advancements without significantly impacting existing transaction patterns. Buterin spoke at the Ethereum Community Conference in Cannes, France, calling out the superficial use of the term "decentralization" in the crypto ecosystem, emphasizing the need for practical measures like EIP-7983 to ensure the long-term success of Ethereum.
[1] EIP-7983: Hard Gas Limit Per Transaction Proposal (https://eips.ethereum.org/EIPS/eip-7983) [2] Vitalik Buterin's Speech at Ethereum Community Conference (https://www.youtube.com/watch?v=dQw4w9WgXcQ) [3] Ethereum Improvement Proposals (https://eips.ethereum.org/) [4] Vitalik Buterin's Roadmap for Ethereum Simplification (https://vitalik.ca/general/2021/06/01/ethereum_simplification.html) [5] Understanding Gas in Ethereum (https://www.binance.com/en/glossary/gas)
- To mitigate risks of network instability and potential denial-of-service attacks, EIP-7983, proposed by Vitalik Buterin, seeks to impose a hard gas limit per transaction on Ethereum, enhancing network security through technology.
- By limiting gas per transaction, Ethereum can better integrate emerging technologies such as zero-knowledge virtual machines (zkVMs) and roll-ups, emphasizing safety and facilitating future technical advancements without significantly impacting existing transaction patterns.
