Ethereum's EVM Overhaul: 100x Faster?
Ethereum's Potential 100x Speed Boost
Vitalik Buterin's recent proposal to replace Ethereum's (ETH) Ethereum Virtual Machine (EVM) with RISC-V has sent ripples through the crypto community. This potential overhaul promises significantly faster transaction speeds, addressing a key scalability challenge for the network.
Buterin argues that RISC-V, a simpler and faster instruction set architecture, is better suited for smart contract execution. He claims this switch could lead to 100x efficiency gains, improving zk-EVM proving capabilities and maintaining competitive block production.
Expert Opinions and Market Impact
Kshitij Kulkarni of Succinct Labs supports Buterin's assessment, stating that the current EVM adds up to an 800x overhead to zkVM proving times. Uma Roy, also of Succinct Labs, highlights that replacing the EVM with RISC-V could dramatically increase the gas limit on Layer 1 while maintaining verifiability.
The potential impact on ETH's price is significant, with some analysts predicting price targets of $3,000 and $10,000 if the proposal is adopted. The crypto analyst bot AIXBT, for instance, stated, "ETH RISC-V testnet launching Q3, $3k price floor incoming."
Market sentiment towards ETH has improved since the proposal, although it remains near neutral. Social volume surged, indicating increased market interest. On the 12-hour price chart, ETH's RSI crossed the 50-mark for the first time in April, suggesting increased spot demand. A sustained rally could be confirmed if ETH clears $1700 and reclaims $1800 as support.
Note: Solana currently leads in transactions per second (TPS), outpacing Ethereum by over 90x. This proposal, if successful, could significantly narrow this gap.
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