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Ethereum co-founder Vitalik Buterin shared a new proposal that would radically overhaul the system that powers its smart contracts.

The EVM is a key piece of Ethereum's underlying design and has been seen as one of the main elements that helped the network succeed in a crowded field of other blockchains.

Buterin argues that transitioning Ethereum to a RISC-V architecture will “greatly improve the efficiency of the Ethereum execution layer.”