Vitalik Buterin has proposed a major overhaul of Ethereum’s core processing language, suggesting a shift from the current Ethereum Virtual Machine (EVM) to the RISC-V instruction set architecture. This radical move aims to enhance speed, simplify execution, and improve zero-knowledge proof functionality in Ethereum’s execution layer.

In his April 20 statement, Buterin outlined long-standing scaling challenges within the Ethereum network. These include the need for stable data availability sampling, more competitive block production, and better zero-knowledge EVM proving. He believes that integrating RISC-V into Ethereum smart contracts could be a game-changer. Buterin highlighted that while efforts like beam chains could streamline Ethereum’s consensus layer, only a shift as significant as RISC-V could bring similar gains to the execution layer.

This proposal comes amid growing concerns about Ethereum’s performance and market competitiveness. Newer blockchains like Solana and Sui are gaining traction for their faster throughput and lower fees, putting pressure on Ethereum to evolve or risk falling behind.

Adding to the urgency, Ethereum’s transaction fees have plummeted. Blob fees collected from layer-2 solutions dropped to just 3.18 ETH in the week of March 30—about $5,000 based on current prices. April 2025 saw the lowest average network fees since 2020, hovering around $0.16 per transaction.

While layer-2 networks have significantly lowered transaction costs, they've also eaten into the base layer’s revenue. Fewer users are now sending direct transactions on Ethereum, opting instead for more affordable alternatives. This trend has weakened the financial strength of the Ethereum base layer and contributed to Ether's price decline. Analysts warn that if investor confidence continues to drop, ETH could fall as low as $1,100.

Vitalik’s proposed shift to RISC-V may be Ethereum’s boldest move yet to reclaim its dominance in a rapidly evolving blockchain landscape.