Vitalik Buterin has proposed replacing the Ethereum Virtual Machine (EVM) with RISC-V to enhance Ethereum’s speed and efficiency. His proposal aims to address long-term scalability issues and improve execution layer performance amid growing competition from other blockchains. Meanwhile, Ethereum is experiencing low transaction fees and concerns over base layer revenue, which could impact Ether prices significantly.
Vitalik Buterin, co-founder of Ethereum, has proposed replacing the Ethereum Virtual Machine (EVM) contract language with the RISC-V instruction set architecture. This change aims to enhance the Ethereum network’s execution layer in terms of speed and efficiency. Detailed in his proposal from April 20, Buterin identified long-term challenges including stable data availability and competition in block production, particularly in the context of zero-knowledge EVM proving.
By integrating the RISC-V architecture into smart contracts, Buterin believes block production competitiveness will be preserved, while also boosting the effectiveness of zero-knowledge functions. He remarked that while the beam chain initiative has potential merits for simplifying Ethereum’s consensus layer, a significant overhaul like this may be essential for achieving similar improvements in the execution layer.
The proposal comes amid Ethereum’s ongoing scalability issues and its struggle to stay competitive against emerging monolithic blockchains such as Solana and Sui, especially with decreased investor trust in Ethereum’s capabilities. Significant changes are necessary to elevate Ethereum beyond its current challenges in throughput.
The Ethereum base layer has experienced a notable decline in transaction fees, with data from Etherscan indicating that blob fees dropped to a weekly low of 3.18 Ether (ETH), approximating $5,000 based on prevailing Ether prices. As transaction fees collectively hit their lowest point since 2020 in April 2025, averaging only $0.16 per transaction, the reduced fee environment is attributed to a decline in base layer transactions.
Because users are shifting their transactions to smart contracts and various layer-2 scaling solutions, Ethereum’s base layer revenue has consequently suffered. Although layer-2 networks reduce base layer fees effectively, this has sparked concerns regarding revenue generation and may threaten Ethereum’s market share, resulting in a potential drop in Ether prices to $1,100 if investor confidence continues to diminish.
