Vitalik Buterin has proposed replacing Ethereum's Ethereum Virtual Machine (EVM) with the open-source RISC-V architecture, claiming it would enhance the efficiency of the network's execution layer and address scaling issues. The transition aims to leverage RISC-V's benefits, including built-in encryption and potential efficiency gains, amidst concerns about Ethereum's competitiveness and recent declines in transaction volumes.

A proposal suggests replacing the Ethereum Virtual Machine (EVM) with RISC-V to enhance the efficiency and scalability of Ethereum's execution layer. This change aims to retain existing smart contract abstractions while allowing for improved performance and reduced complexity, potentially making Ethereum more competitive in terms of block production and proving capabilities. The proposal also outlines various implementation strategies to support both EVM and RISC-V contracts.