Ethereum’s gas fees have plummeted, reaching a record low of just $0.01 per transaction. This significant reduction is driven by the implementation of new architecture and base fee levels, resulting in fast confirmation times (30 seconds) across all tiers. 30-second confirmations with these low prices signify minimal network congestion, indicating a smoother user experience. The move reflects Ethereum’s shift away from the Layer 2 scaling focus towards improving core Layer 1 scalability. Vitalik Buterin’s proposed RISC-V architecture aims to replace the EVM, simplifying execution and reducing costs. This fundamental change promises significant long-term scalability improvements. While developers anticipate increased flexibility with new contract development possibilities, existing contracts will remain compatible post-transition. This shift signifies a move away from Layer 2 solutions towards direct improvement of Ethereum’s core functionality. This development has been widely discussed within the Ethereum community, prompting discussions on the future direction of the blockchain.