- Ethereum co-founder Vitalik Buterin has proposed replacing the Ethereum Virtual Machine (EVM) with RISC-V architecture to improve network efficiency.
- The proposal aims to address scaling issues and could potentially deliver 100x efficiency gains for Ethereum’s execution layer.
- Ethereum’s base layer is experiencing historically low transaction fees, with weekly blob fees dropping to just 3.18 ETH (approximately $5,000) in late March.
Vitalik Buterin has proposed a major overhaul to Ethereum’s core architecture, suggesting the replacement of the current Ethereum Virtual Machine (EVM) contract language with the RISC-V instruction set. In an April 20 proposal, Buterin outlined how this change could significantly enhance the speed and efficiency of Ethereum’s execution layer.
The Ethereum co-founder identified several bottlenecks currently limiting the network’s scaling capabilities, including issues with stable data availability sampling and maintaining competitive block production. Buterin suggested that implementing RISC-V architecture would help address these challenges while improving zero-knowledge functionalities.
“The beam chain effort holds great promise for greatly simplifying the consensus layer of Ethereum, but for the execution layer to see similar gains, this kind of radical change may be the only viable path,” Buterin wrote in his proposal. According to the data he provided, this implementation could potentially deliver efficiency improvements of up to 100 times the current system.
Ethereum’s Declining Fee Revenue
The proposed architectural change comes amid concerning trends in Ethereum’s network usage. According to Etherscan data, Ethereum’s blob fees hit a weekly low of just 3.18 ETH (approximately $5,000) during the week of March 30. Overall network fees have dropped to their lowest levels since 2020, with average transaction costs around $0.16.
Santiment marketing director Brian Quinlivan attributed this decline to users migrating away from Ethereum’s base layer in favor of layer-2 scaling solutions. While these scaling solutions have successfully reduced transaction costs, they’ve also cannibalized revenue from the main Ethereum network.
Competitive Pressures and Market Position
The proposal highlights Ethereum’s ongoing struggle to compete with newer, faster blockchain networks such as Solana and Sui. These next-generation platforms have gained traction as Ethereum continues to face throughput limitations despite multiple upgrade attempts.
The combination of reduced base layer activity and growing competition has placed downward pressure on Ether’s price, which some analysts suggest could potentially drop to around $1,100 if investor confidence continues to deteriorate. The proposed RISC-V implementation represents a significant technical shift that Buterin appears to view as necessary for Ethereum to maintain its market position in the evolving blockchain landscape.
Despite offering significant scaling benefits, Ethereum’s layer-2 networks have become what some describe as a “double-edged sword,” simultaneously solving transaction cost issues while potentially undermining the economic sustainability of the base protocol itself.
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