Breaking the 12-Second Block Limit... ETHGas: "Redesigning Ethereum as 'Real-Time Finance'" [Cointerview]

Interview with Kevin Lepsoe, founder of ETHGas

Turning 'blocks' into products... splitting and trading them

Faster transaction throughput, stabilizing gas fees

"Ethereum will become a real-time financial system"

Attending 'CIS 2026'... "Looking forward to engaging with institutions"

"Ethereum’s blockspace is the most valuable commodity in the digital-asset market. We aim to transform it into institutional-grade financial infrastructure and redesign Ethereum into the internet’s 'real-time financial system.'"

Kevin Lepsoe, founder of ETHGas (pictured), said this in an interview with Bloomingbit on the 6th, adding that he would "fundamentally change the execution economics of the Ethereum network."

Having spent 20 years in risk management at global investment banks (IBs) including JPMorgan, he plans to flesh out collaboration plans with traditional financial institutions at the 'Crypto Investment Show 2026 (CIS 2026)' to be held on the 17th. Hosted by Xangle with Hanwha Investment & Securities participating as the title sponsor, the event aims to explore the convergence of finance and Web3.

Lepsoe said, "ETHGas’s core value is 'turning blockspace into a marketplace,'" explaining that "the idea is to treat the blocks generated by Ethereum validators every 12 seconds as products that can be traded."

Blockspace is the storage space where transaction information is recorded. Validators produce and supply blocks, and users pay fees (gas fees) to have their transactions recorded. In Lepsoe’s view, Ethereum’s fundamental value ultimately comes not from the token itself but from scarce digital resources such as blockspace.

He also noted that if blockspace stops functioning, the value of Ethereum and the entire ecosystem built on it would be impaired. Lepsoe said, "Through ETHGas, validators can pre-sell their 'future blocks' to lock in revenue, while buyers gain the right to decide which transactions to include in those blocks," adding that "this can rein in unpredictable gas-fee volatility and create a transparent and liquid blockspace market that institutional investors can trust."

Improving the '12-second block production structure'—long cited as a bottleneck for Ethereum—is also a key task for ETHGas. Ethereum’s block time is currently fixed at 12 seconds. Lepsoe argues that this is precisely the critical constraint on scaling the network, as the long 12-second wait and the gas-fee fluctuations during that interval degrade the user experience.

To address this, ETHGas presented a 'Real-time' technology. He said, "It’s a method that splits a single block into hundreds of 'mini-blocks' in 50–100 millisecond (ms) increments and propagates state changes in real time," adding, "Users won’t have to wait for the full block to be produced and can check whether a transaction is confirmed up to 100 times faster."

He continued, "Payments are processed instantly, and decentralized finance (DeFi) positions are also reflected in real time. Traders can reduce pre-trade risk while immediately verifying execution details," and added, "Over the next 5–10 years, Ethereum will evolve into an 'internet-based real-time financial system' with financial frictions removed."

He also expressed expectations for the Korean market. "The Korean community is very open and passionate," he said, adding, "We plan to soon host an institutional-grade Ethereum conference in Seoul, the 'ETHCapital Summit,' so please stay tuned." He went on to advise, "If you believe in efficiency in finance, the 'institutional-grade digital-asset' market will be the most compelling opportunity," adding, "In addition to beta strategies that invest in broad-based industry growth, strategies that target excess returns (alpha) in specific sectors are also possible."