Ethereum Reimagined: Buterin Proposes to Replace EVM with RISC-V and Simplify the Network

Ethereum co-founder Vitalik Buterin recently proposed a radical simplification of the Ethereum protocol, including the replacement of the Ethereum Virtual Machine (EVM) with the more lightweight RISC-V standard. His vision is for a new "beam chain" to replace the current Beacon Chain, eliminating mechanisms such as slots, epochs, and syncing committees. Buterin emphasizes the importance of maintaining backward compatibility: existing Ethereum smart contracts will continue to operate through a RISC-V interpreter or a dedicated layer, while outdated functions will be migrated to a non-consensus layer. In short, the proposed changes aim to significantly reduce the complexity of the network's code while preserving Ethereum's "strong points." Against the backdrop of preparations for the major Pectra upgrade, Buterin's proposal has sparked lively discussions about scalability, decentralization, and the investment future of the ecosystem.

Core of Buterin's Proposal

At the heart of the proposal is the idea of making Ethereum "as simple as Bitcoin." Buterin notes that the complexity of the Ethereum protocol has increased due to numerous new features—smart contracts, zero-knowledge proofs, and legacy code. To contain this polyphony, he suggests reconstructing the consensus layer. The "beam chain" project implies the removal of many intricate elements of the Beacon Chain: slots, epochs, committee shuffling, and even individual cryptographic aggregators, replacing them with a simplified finality rule. For instance, a "3-slot finalization" mechanism is proposed, which reduces the consensus specification to approximately 200 lines of code while maintaining a high level of security.

At the same time, Buterin proposes to eliminate the EVM—a cumbersome 256-bit virtual machine—and replace it with a simpler VM, such as RISC-V. The RISC-V architecture, already utilized for ZK unifications within Ethereum, would allow smart contracts to execute directly without the overhead of interpretation. Research indicates a potential performance increase of over 100 times for zero-knowledge proofs when transitioning to RISC-V. Developers will still be able to write in Solidity and Vyper, as compilers will translate code directly into RISC-V instructions rather than EVM bytecode.

The primary technical challenge is maintaining backward compatibility. Buterin suggests a phased approach where both the EVM and the new VM will operate in parallel. Existing smart contracts will be executed via the RISC-V interpreter or an auxiliary chain, while new code will utilize the new architecture. This transition would also pave the way for launching alternative virtual machines (e.g., Move) within the Ethereum ecosystem.

Fundamental Analysis

Simplifying Ethereum presents both positive prospects and new challenges for the network. On one hand, a transparent and lightweight architecture will simplify network maintenance and accelerate development. A straightforward protocol is easier to understand and verify: as Buterin points out, any hobbyist programmer could realistically write a client for a simple chain. The simplified consensus and execution model will lower barriers for developers, increasing the number of participants in development and audits. This will strengthen Ethereum's decentralization: it will be easier to run full nodes and conduct independent audits, reducing the risks of technological dominance.

Transitioning to RISC-V could result in a substantial performance boost. Currently, ZK protocols already operate through the transcription of EVM into RISC-V, so native RISC-V execution will eliminate an additional layer of abstraction. Analysts note that this will not only speed up proof generation (hundreds of percent improvement) but also reduce swap fees and the cost of complex smart contracts due to more efficient computations. Collectively, this will improve the network's scalability, making it easier to handle large volumes of data with linear load increases.

The effect on the development ecosystem is also significant. Standardizing on an open RISC-V ISA will expand the Ethereum ecosystem: developers will be able to compile Solidity and other languages directly to RISC-V and potentially incorporate additional VMs (e.g., those developed for Move) in the future. This will make Ethereum more attractive to companies developing smart contracts in various languages. Institutional investors also welcome the clear architecture: demand for ETH remains strong—just last week, spot ETFs attracted $106.75 million in investments in Ethereum. A more secure and cost-effective base layer could enhance the trust of regulators and major players.

However, changes do not occur in a vacuum. Key Ethereum 2.0 updates have already been implemented: the transition to Proof-of-Stake (the Merge) contributed to lower energy consumption, and Fusaka and Pectra increase data throughput. Nevertheless, the demand dynamics have shifted: base fees have dropped to minimums not seen since 2025 (~$0.16 per transaction) due to the migration of activities to Layer 2. The decrease in base fees raises concerns about the future capitalization of ETH—some analysts warn that as activity wanes, the price may dip to $1,100. The simplification of the protocol aims specifically to address this—making the network more efficient and supporting the sustainability of the ecosystem.

Overall analysis of Ethereum indicates that simplification will reduce development and audit costs, enhance code reliability, and facilitate scaling. This opens a future for Ethereum with a broader range of participants and potentially increases Ethereum investments—especially from institutional investors—if the execution of the plan goes smoothly.

Technical Analysis

Following Buterin's announcement, technical traders have noted an increase in uncertainty on ETH charts. At the time of publication, ETH is trading around $1,800–$1,820 (see "ETH Price" on the chart). The past few weeks have been tense: ETH attempted to break above the $1,800–$1,860 zone, but local selling has restrained growth. Indicator analysis points to an "equilibrium" state between buyers and sellers.

• Support/Resistance Levels. Key resistance is around $1,880–$1,900: this is where the market has rejected upward movement multiple times. A breakout above $1,900 ($2,100 considering the historical demand range) would open the way to targets of $2,100–$2,300. Conversely, the nearest support is around $1,750–$1,800 (the EMA 50/100 zone). Its breach could trigger a move towards $1,688, followed by $1,550 and even $1,450. On the daily chart, the $1,800 level currently acts as a strong barrier: a drop below it would confirm a short-term downward reversal.

• Indicators and Volatility. Current technical signals indicate a weakening bullish momentum. After a recent rally, ETH formed a doji on the weekly chart—a sign of indecision. The RSI around 60 has not entered the overbought territory, indicating a balance of power, while the MACD shows a moderate bullish crossover with decreasing bar volume. Bollinger Bands on the 4-hour chart are widening, suggesting increased volatility. As a result, sharp price fluctuations are possible in the coming days: investors are waiting for either a confident breakout or a substantial pullback.

• Movement Scenarios. In the short-term ETH forecast, two main scenarios exist. In the bullish case, ETH will solidify above $1,800 and overcome $1,880–$1,900; growth would then accelerate to $2,100 (the lower boundary of a significant demand range) and beyond to $2,300. In this case, the classic technical pullback will be broken—the current low will become a "bottom," prompting a new influx of buyers. Bearish scenario: if the price fails to hold the $1,750–$1,800 zone, selling could intensify. Then, ETH could rapidly pull back to $1,600 (EMA clusters and historical demand) and possibly test $1,450. Current boundaries of the average trend range lie between $1,700 and $1,900, and without significant news, the price will oscillate within this corridor.

Therefore, the technical analysis of ETH indicates a high level of uncertainty. The critical zone around $1,800–$1,820 (EMA 20) will determine the near-term dynamics. If the bulls defend it and push above $1,900, a buying chain reaction could propel the price upwards. Otherwise, in the near term, a correction is likely to prevail.

Risks

Buterin's proposal carries significant risks for the Ethereum ecosystem. The primary risk is the potential loss of compatibility. Fully replacing the EVM with RISC-V implies a radical change in block execution, which could "break" some applications. Even with a phased transition, where VM support operates in parallel, fragmentation is unavoidable: different clients and validators will operate on different protocol versions. This will complicate network support and increase infrastructure demands.

The technical complexity of the transition is also critical. It will be necessary to rewrite client specifications, ensure that no vulnerabilities exist in the new execution, and test the interoperability of RISC-V and EVM. The saga with EIP-3668 ("SELFDESTRUCT") demonstrated that even removing a single command from the EVM took months of discussion. With the transition to a new VM, complexity escalates dramatically. Serious bugs may arise in the implementation of RISC-V consensus or in migration mechanisms.

Network Fragmentation. The option of having two engines operating in parallel carries the risk of splitting the ecosystem. If some users and developers switch to RISC-V while others remain on EVM, two "semi-ecosystems" will emerge, requiring complex bridges for interaction. This will undermine the power of a unified decentralized network and complicate audits. Analysts note that deviation from the principles of Ethereum decentralization (protocol unity) may reduce trust in the network and create loopholes for errors.

Community and Adoption. Some developers and validators may react negatively to radical changes. The transitional state will require teams to rewrite client code, posing risks of delays and new conflicts (EIP debates). If implementation takes years, the announcement could disillusion investors and lead to a liquidity drain.

Investment Scenarios

For ETH holders, Buterin's proposal opens several scenarios. In the short term, the news heightens uncertainty and volatility. On one hand, investor optimism regarding technological changes may boost demand. For instance, traditional investment flows into Ethereum remain strong (just last week, Ethereum ETFs received over $100 million in inflows). On the other hand, the market often "sells the news": some traders may offload coins out of fear regarding the complexities of migration. Therefore, sharp fluctuations in ETH price between the $1,600–$2,000 range can be expected in the weeks following the announcement.

In the long term, much depends on implementation. If the simplification of the network proceeds smoothly and genuinely enhances efficiency, Ethereum could gain momentum for growth. It's evident that Ethereum's future will strengthen under such circumstances: operational costs would decrease, new projects would emerge, and institutional trust would be reinforced. The prospects for ETH could become even more favorable, especially considering the current demand in the Ethereum market. However, a negative scenario cannot be ruled out. In the worst case, delays and technical issues could exacerbate existing Ethereum risks. A combination of diminished base-level activity and investor nervousness could result in significant corrections. Analysts warn that without substantial interest in Ethereum ecosystem development, the price of ETH could fall to $1,100 and below (a scenario where support around $1,750–$1,700 is broken could lead to a decline to $1,600–$1,450).

Therefore, it is essential for investors to consider both poles of the situation's development. In the short term, the ETH forecast will largely be dictated by technical levels: whether the $1,800 mark holds and how EMA/RSI will respond. In the long term, the pace of proposal implementation and community support will be critical. A base scenario suggests consolidation in the $1,700–$1,900 range with a subsequent breakout. A bullish case (successful simplification) could lead to new heights ($2,100+), while a bearish case (technical difficulties) could pull Ethereum into a downward trend toward $1,500–$1,600.

Ethereum's prospects following Buterin's proposals remain uncertain. On one hand, this presents an opportunity to elevate the protocol to a new qualitative level beneficial for developers, users, and institutional investors. On the other hand, substantial risks of errors and network fragmentation exist, which investors should carefully evaluate. Ultimately, this initiative sets the tone for the discussion about the future market for Ethereum: is the Ethereum team ready for a massive reform, and how will these changes affect capital? We will find out the answers in the coming months, but it is already evident that the ETH price will be sensitive to any news regarding the progress of this complex upgrade.