Ethereum developers have finalized the Glamsterdam upgrade, set to increase the network's gas limit from 60 million to roughly 200 million. The move more than triples Layer 1 execution capacity, pushing the blockchain towards a target of 10,000 transactions per second.
Agreed upon by over 100 core developers at the Soldøgn Interop event, the upgrade is designed to reduce transaction costs. Hasufl, a prominent Ethereum community figure, noted that without a corresponding demand surge, fees are likely to remain minimal.
Market reactions align with a potential price increase in May prediction markets, driven by enhanced utility and lower fees. The upgrade's impact is considered moderate but supportive of a positive sentiment shift.
Key events to watch: post-upgrade network performance, fee sustainability, statements from Vitalik Buterin, and developments in Ethereum ETFs.