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On January 29th, COINOTAG News reported on a significant development in the Ethereum ecosystem, following a statement from Consensys. The blockchain-centric company emphasized the necessity of improving Ethereum’s decentralization by enhancing its foundational layer while progressing on the Layer 2 (L2) initiative. A collaborative effort from MetaMask validators and over 40% of Ethereum validators indicates strong support for increasing the gas limit. This strategic move will enable each block to accommodate a higher volume of transactions or more intricate operations. The implications are crucial; in the short term, this will likely lower gas fees and expedite transaction confirmations. In the long term, it paves the way for developers to create more sophisticated applications, thus reinforcing Ethereum’s position in the expanding blockchain landscape.
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