Ethereum Co-Founder Proposes RISC-V for 100x Efficiency Gain

Ethereum co-founder Vitalik Buterin has proposed replacing the current Ethereum Virtual Machine (EVM) contract language with the RISC-V instruction set architecture. This move aims to enhance the speed and efficiency of the Ethereum network's execution layer, addressing several long-term bottlenecks that hinder the network's scalability. Buterin's proposal, outlined in April, identifies key challenges such as stable data availability sampling, maintaining competitive block production, and zero-knowledge EVM proving.

Buterin argues that adopting the RISC-V architecture for smart contracts could make block production markets more competitive and improve the efficiency of zero-knowledge functions within the execution layer. He emphasizes that while the beam chain effort shows promise for simplifying Ethereum's consensus layer, similar radical changes may be necessary for the execution layer to achieve comparable gains. Buterin suggests that implementing this proposal could lead to significant efficiency improvements, potentially up to 100 times more efficient.

The proposal comes at a time when the Ethereum network is grappling with throughput issues and facing competition from next-generation monolithic blockchains like Solana and Sui. Investors have been losing confidence in the original smart contract blockchain, making it crucial for Ethereum to find innovative solutions to remain competitive. Buterin's proposal is a bold step towards addressing these challenges and ensuring that Ethereum can continue to thrive in a rapidly evolving blockchain landscape.

Ethereum's scaling woes have been exacerbated by the decline in blob fees, which dropped to a weekly low of 3.18 Ether (ETH) during the week of March 30. This decline is attributed to fewer users sending transactions on the Ethereum base layer, opting instead for smart contracts or layer-2 scaling solutions. The dramatic reduction in fees has led to concerns about revenue generation on the base layer and the potential cannibalization of Ethereum's market share by layer-2 solutions. These concerns have driven the price of Ether to historic lows and could further plunge if investor confidence continues to wane.

Buterin's proposal to swap the EVM language for RISC-V is seen as a potential solution to these challenges. By improving the efficiency of the execution layer, Ethereum could better compete with next-generation blockchains and regain investor confidence. The proposal highlights the need for radical changes to address long-term bottlenecks and ensure the network's scalability and competitiveness. As Ethereum continues to evolve, Buterin's proposal represents a significant step towards securing the network's future in the rapidly changing blockchain landscape.