Ethereum Gas Fees Dip to $0.01 as Vitalik Buterin Proposes RISC-V Upgrade

Ethereum’s gas fees have plummeted to an unprecedented low of $0.01, marking a dramatic decline from the highs of $11 earlier this year. This reduction is attributed to a slowdown in network activity and increased competition from other blockchains like Solana. Vitalik Buterin has proposed migrating the Ethereum Virtual Machine (EVM) to RISC-V architecture, aiming to enhance scalability and maintain Ethereum’s dominance in the cryptocurrency world.