The Ethereum network has come to its own limits, and the volume of transactions has been partly exhausted. Now the Ethereum Miners have responded and increased transaction capacity.
Current data show that the gas limit of the transaction blocks has been increased since yesterday and thus a higher fee can be demanded. Thus, more transactions per block can be handled.
A look at the Etherchain charts shows that the increase on 29.06. Against 11:20 clock took place. Since then, the gas limit has been increased from 4.7 million by 42.5 percent to 6.7 million gas.
In the wake of the recent ICOs and the immense interest of investors in the ICOs through Ether (ETH), the ethereal network was heavily strained, resulting in a transaction backlog. The sufferers were, in particular, start-ups, which rely on the rapid transaction processing via the Ethereum blockchain. The outcry was correspondingly great.
Initially, some Miners responded very sluggishly to the demand to increase the gas limit. Increasing the gas limit automatically increased the frequency of Uncle blocks. Unlike the orphaned blocks in the Bitcoin network, the Uncle blocks in the Ethereum network are compensated.
The Bitcoin News