Thomas Daniels
Vitalik Buterin, Ethereum’s visionary co-founder, has proposed replacing the Ethereum Virtual Machine’s (EVM) current contract language with the RISC-V instruction set architecture to enhance the network’s execution layer speed and efficiency.
In a detailed proposal dated April 20, Buterin identified persistent bottlenecks in scaling Ethereum, notably the challenges in stable data availability sampling, maintaining competitiveness in block production, and advancing zero-knowledge (ZK) EVM proving technologies.
Buterin emphasized that adopting the RISC-V standard could safeguard the competitiveness of block production markets and significantly enhance the execution layer’s zero-knowledge functionalities. He asserted:
“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.”
This strategic proposal emerges as Ethereum grapples with intensifying competition from high-throughput, next-generation blockchains such as Solana and Sui. With investor confidence waning, Ethereum’s ability to scale effectively is increasingly in question.
Ethereum Faces Scaling Pressures and Market Headwinds
The Ethereum network’s economic fundamentals have been under pressure. According to Etherscan, blob fees—transaction fees derived from Ethereum layer-2 solutions—fell to a mere 3.18 ETH ($5,000) during the week of March 30, marking a substantial decline.
Additionally, in April 2025, Ethereum’s network fees plummeted to an average of $0.16 per transaction—the lowest levels observed since 2020. Santiment’s marketing director, Brian Quinlivan, attributes the downturn to a shift in user behavior, with many bypassing the base layer for layer-2 scaling networks or smart contract platforms.
While layer-2 solutions have successfully reduced transaction costs, they have also inadvertently cannibalized base-layer revenue. This dual effect poses serious concerns for Ethereum’s long-term sustainability and market dominance.
The diminishing base-layer revenue stream has exacerbated Ether’s price decline. With Ether trading at $1,587 and analysts warning of a potential drop to $1,100 should negative sentiment persist, Ethereum’s future hinges critically on its ability to evolve and maintain investor trust.
