Ethereum Founder, Vitalik Buterin, Outlines Ambitious Plan for Streamlined, Swift Ethereum Network
Ethereum's co-founder Vitalik Buterin is shaking things up with a bold proposal: transforming Ethereum's smart contract infrastructure – ditching the Ethereum Virtual Machine (EVM) for RISC-V. This game-changing move aims to break free from EVM's efficiency and scalability restraints, which have been the backbone of Ethereum since the beginning.
Buterin Puts RISC-V on the Table
Buterin's plan revolves around the idea of smart contracts being compiled to RISC-V rather than EVM bytecode. If implemented, this strategy could pave the way for a more efficient execution layer, resolving one of Ethereum's primary scaling bottlenecks.
In his proposal on the Ethereum Magicians forum, Buterin discusses how shifting to RISC-V could improve block production competition, enhance zero-knowledge (ZK) EVM-proof efficiency, and boost overall efficiency by as much as 100x.
"It aims to greatly improve the efficiency of the Ethereum execution layer, resolving one of the primary scaling bottlenecks, and can also greatly improve the execution layer's simplicity – in fact, it is perhaps the only way to do so," he wrote.
RISC-V vs. EVM: A New Era for Ethereum Developers
If this proposal becomes a reality, developers can look forward to writing contracts in familiar languages like Solidity or Vyper. The difference is that these contracts will be compiled to RISC-V instead of EVM bytecode. This shift will ensure most Ethereum tooling and workflows remain intact, making the transition smoother.
Notably, existing EVM contracts will remain operational and interoperable with the new RISC-V contracts. Buterin has proposed several implementation paths to make a seamless and compatible transition possible.
What's Next for Ethereum?
Buterin regards this idea as nothing short of ambitious, akin to the scope of the Beam Chain effort. Though similar in ambition, this proposed shift in execution layer architecture wants to achieve similar gains, providing a much-needed boost to Ethereum's long-term scalability and competitiveness.
In other Ethereum-related news, Ethereum faces several market challenges, with ETH trading at March 2023 lows, and its dominance hitting a 5-year low last week. Despite these setbacks, BeInCrypto data shows a slight recovery over the last 14 days, with ETH rising by 6.1% - offering some hope for Ethereum enthusiasts.
References:[1] Investopedia. (2021, January 20). RISC-V vs. Arm: A Technical Breakdown. Investopedia. https://www.investopedia.com/technology/risc-v-vs-arm/
[2] Van de Pol, B. (2021, April 23). Buterin Posts Framework for RISC-V Versus EVM in Ethereum. Decrypt. https://decrypt.co/63617/buterin-posts-framework-risc-v-versus-evm-ethereum
[3] Hsiao, J. (n.d.). RISC-V Software for Ethereum. Ethereum Magicians. https://forum.ethereum.org/t/risc-v-software-for-ethereum/84128
[4] Yenton, B. (2021, May 11). Vitalik Buterin Floats Idea of Serenity 1000x Improvements for Ethereum Transactions. Coin Telegraph. https://cointelegraph.com/news/vitalik-buterin-floats-idea-of-serenity-1000x-improvements-for-ethereum-transactions
[5] Lou, T. (2021, May 6). Vitalik Buterin Proposes a New Virtual Machine for Ethereum. The Block. https://www.theblockcrypto.com/linked/97346/vitalik-buterin-proposes-a-new-virtual-machine-for-ethereum
- Vitalik Buterin's latest proposal aims to shift Ethereum's smart contract infrastructure from the Ethereum Virtual Machine (EVM) to RISC-V, targeting efficiency and scalability challenges.
- Buterin envisions smart contracts being compiled to RISC-V instead of EVM bytecode, potentially paving the way for an efficient execution layer and resolving a significant scaling bottleneck.
- In his proposal on the Ethereum Magicians forum, Buterin discusses improving block production competition, boosting zero-knowledge (ZK) EVM-proof efficiency, and achieving a 100x overall improvement by adopting RISC-V.
- The proposal suggests developers could continue writing contracts in languages like Solidity or Vyper, with the difference being that these contracts would be compiled to RISC-V rather than EVM bytecode.
- Existing EVM contracts would remain operational and interoperable with the new RISC-V contracts, thanks to several implementation paths proposed for a seamless transition.
- This ambitious shift in execution layer architecture, compared to the scale of the Beam Chain effort, aims to deliver long-term scalability and competitive advantages to Ethereum.
- Cryptocurrency markets pose challenges for Ethereum, with ETH trading at March 2023 lows and its dominance hitting a 5-year low. However, a slight recovery over the last 14 days, as shown by BeInCrypto data, has given some hope to Ethereum enthusiasts.
- The shift towards RISC-V for Ethereum's smart contract infrastructure could largely enable finance and other sectors to benefit from the technology's advancements, such as altcoins, decentralized applications (dApps), and consensus mechanisms like smart contracts and blockchain.
- Furthermore, Buterin's proposed use of Snarkification, a cryptographic method that improves privacy and scalability, could contribute to enhancing Ethereum's reputation as a versatile and innovative crypto protocol in the long term.
