You'd need some special hardware with a large enough MTU to handle that. While IP itself can most hardware can't
You're right! At least from what I can tell. Heck, Linux doesn't support jumbo payloads from what I can tell, but FreeBSD [does] (https://docs.freebsd.org/en/books/developers-handbook/ipv6/#ipv6-jumbo). Reading their docs it seems the lack of hardware support is an issue for them as well.
Multi-GB jumbo frames? At that point you'd hit ethernet limitations rather than IP ones.
True, but should still see a reduction in layer 3 fire walling overhead, no? Though at that point I see places where annoying issues could start occurring.
For once, this quote is almost relevant:
"The Internet is not something that you just dump something on. It's not a big truck. It's a series of tubes. And if you don't understand, those tubes can be filled and if they are filled, when you put your message in, it gets in line and it's going to be delayed by anyone that puts into that tube enormous amounts of material."
IPv6
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