Vitalik Buterin proposes swapping EVM language for RISC-V
Vitalik Buterin proposed replacing the Ethereum Virtual Machine (EVM) contract language with the RISC-V instruction set architecture to enhance the Ethereum network's execution layer. The proposal addresses long-term scaling bottlenecks, including data availability sampling and competitive block production. Implementing RISC-V could improve efficiency in zero-knowledge functions and maintain competitive block production markets. Ethereum faces challenges in throughput and competition from blockchains like Solana and Sui, leading to declining investor confidence. Ethereum's blob fees fell to a weekly low of 3.18 ETH, approximately $5,000, while average transaction fees dropped to $0.16, the lowest since 2020. Layer-2 networks have reduced base layer transaction costs but negatively impacted base layer revenue, contributing to Ether's price decline, which could drop further to around $1,100 if confidence continues to fall.
