Ethereum co-founder Vitalik Buterin has proposed a significant upgrade to the Ethereum network by suggesting a switch from the current Ethereum Virtual Machine (EVM) contract language to the RISC-V instruction set architecture. This proposal aims to enhance the speed and efficiency of the Ethereum network’s execution layer. The proposal, presented on April 20, addresses long-term challenges in scaling the Ethereum network, including stable data availability sampling, maintaining competitive block production, and zero-knowledge EVM proving. Buterin believes that integrating the RISC-V architecture in smart contracts will foster competitiveness in block production markets and boost the effectiveness of zero knowledge functions. The proposal underscores Ethereum’s struggle to increase throughput and compete with newer blockchains like Solana and Sui. Ethereum’s transaction fees from layer-2 scaling networks dropped significantly, hitting a weekly low of 3.18 Ether in March 2025. This decline in fees has been attributed to reduced user transactions on the Ethereum base layer, as more users opt for smart contracts or layer-2 scaling solutions. While layer-2 networks have reduced transaction costs, they have also impacted the revenue of Ethereum’s base layer. Concerns about revenue generation and the influence of layer-2 scaling on Ethereum’s market share have contributed to Ether’s price decline. If investor confidence continues to wane, Ether prices could plummet to around $1,100. This development underscores the need for Ethereum to address scaling challenges and maintain market competitiveness to sustain its value in the cryptocurrency landscape.