Ethereum begins Glamsterdam upgrade, aims for 200M gas limit

Ethereum (ETH) began its Glamsterdam upgrade on May 1, a move expected to enable faster and cheaper transaction processing, FinanceSpeed reported. The upgrade will significantly raise the gas limit to 200 million, increasing the available space per block. This is expected to lower costs for smart contract interactions, such as decentralized exchange (DEX) transactions and large-scale NFT minting. Additionally, the cost of Layer 2 data settlement is projected to fall by 70%, which is anticipated to fuel fee competition among major Layer 2 networks. Ethereum had previously outlined the upgrade's objectives, which include recapturing market share from high-performance competing chains and providing the necessary computational resources for next-generation dApps. Looking ahead, the plan is to transform Ethereum into a high-performance financial engine capable of supporting hundreds of millions of daily active users.