Miners Increased the Ethereum Network’s Gas Limit by 25%
According to Etherscan, the gas limit increased from 10M on June 18 to 12M on June 21.
In theory, the gas increase means that Ethereum would have the capability to handle approximately 44 transactions per second instead of 35.
The network’s block size is bounded by the amount of gas that can be spent per block. The Ethereum protocol allows miners to adjust the gas limit by roughly 0.1% in each new block. The last significant gas limit increase happened in September 2019 from (8M to 10M).