- Ethereum co-founder Vitalik Buterin proposed replacing EVM with RISC-V to provide a 100% potential efficiency improvement.
- Adam Cochran claimed that replacing the EVM with a RISC-V could have an impact on Ethereum’s L2-centric roadmap.
- ETH can tackle the upper limit of the key’s descending channel by breaking the $1,688 resistance.
Ethereum (ETH) fell 1% on Monday following suggestions from co-founder Vitalik Buterin to replace the current Ethereum Virtual Machine (EVM) smart contract language environment with a more “efficient” RISC-V.
Vitalik Buterin suggests changing the EVM to RISC-V
Sunday post At the Ethereum Magicians Forum, Vitalik Buterin proposed ambitious changes to the Ethereum Running Layer (EL), which can provide 100% efficiency. He proposed replacing the current EVM smart contract language environment with an open source RISC-V (instruction set computing version 5) architecture.
“IT (RISC-V) aims to significantly improve the efficiency of the Ethereum runtime layer and solve one of the major scaling bottlenecks, allowing us to significantly improve the simplicity of the runtime layer.
He highlighted several ways to implement such changes without affecting the developer experience, such as enabling support for both EVM and RISC-V, “using an EVM interpreter agreement written in RISC-V to run existing EVM code” or “requires that logic to write the concept of “virtual machine interpreter” in ENSHRINE and RISC-V.”
While several developers discussed the feasibility of the proposal, Cinneamhain Venture partner Adam Cochran claimed that there could be a possibility of replacing the RISC-V EVM.
“This is great for running the L1, but it reduces the value of the L2S, competes with itself, and adds less value to its roadmap in exchange for a huge tech lift,” Cochran said.
Meanwhile, Thomas Stazzak, co-director of the Ethereum Foundation (EF), Share It’s about the organization Recent Leadership Reorganizations Buterin has freed time for Ethereum to conduct research and exploration “accelerating major long-term breakthroughs.” However, he warned that Buterin’s proposal was primarily intended to spark conversations and drive advancements in key areas of research.
“Community reviews can even significantly improve or reject them,” writes Stańczak. “Ethereum researchers often require readers to recognize the exploratory nature of their posts and suggestions,” he added.
Stańczak said EF will focus on L1 and L2 scaling and UX improvements in future Pektra, Fusaka and Gramasterdam upgrades.
Ethereum Core Developer schedule Pectra upgrade on May 7th. It aims to introduce several features to the mainnet, including wallet recovery, transaction batches, blobspace expansion, and improving the staking limit of the maximum verification device to 2,048 ETH.
Future changes and proposals will come when L2S and Solana are gaining volumes from the Ethereum L1, causing revenue for the past year.
Ethereum Price Forecast: ETH Test 1,688 resistance after rising above major descending trendline
Ethereum saw a $53.44 million futures liquidation over the last 24 hours for each Coinglass data. The total amounts of long and short liquidations are $27.33 million and $26.11 million, respectively.
ETH surpassed the descending trend line, which will be extended from March 24th, after a week-long consolidation of around $1,600. However, Top Altcoin faced resistance at $1,688. This is the level where anti-stricken materials have been putting sales pressure on since April 9th.
ETH/USDT Daily Chart
If ETH holds the downtrend line as a support level and breaks the $1,688 resistance, it can tackle the main descending channel cap, which will be extended from December 16th. The channel’s upper limit is enhanced by a 50-day simple moving average (SMA).
On the downside, the sustained movement below the descending trendline allows ETH to find support close to $1,450. A breakdown below $1,450 could plummet 30% towards the lower limit of the downward channel at $1,150.
The relative strength index (RSI) and the stoch oscillator (Stoch) are directed downward after the initial upward movement.
