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Title: Vitalik Buterin Explores Sunsetting the EVM in Favor of a Simpler Ethereum Execution Model
Vitalik Buterin, Co-Founder of Ethereum, has been exploring the possibility of sunsetting the current Ethereum Virtual Machine (EVM) in favor of a more simplified execution model. This move would aim to increase scalability and usability for users.
According to data released recently, it appears that the EVM is not able to keep up with the demands placed upon it as the blockchain continues to grow. The EVM’s inability to process complex smart contracts efficiently has led to congestion on the network, resulting in slower transaction times and increased costs.
In a recent analysis, it was discovered that over 80% of Ethereum transactions are used for simple tasks such as transferring funds or sending messages. These types of transactions could be easily handled by a simplified execution model, freeing up the EVM to focus on more complex applications like decentralized finance (DeFi) and gaming.
Buterin believes that this change would greatly benefit the overall ecosystem. He emphasized the importance of scalability in his recent keynote address, stating that it is crucial for Ethereum to be able to process transactions quickly and efficiently if it is to continue to grow as a platform.
While some may be concerned about the potential implications of such a drastic change, Buterin assured that any decision would be thoroughly discussed with the community before being implemented. This move would not only improve the user experience but also pave the way for further innovation on the Ethereum network.
The proposed change would involve replacing the current EVM with a more simplified architecture that can handle simple transactions quickly and efficiently.
Source: https://cryptoslate.com/vitalik-buterin-explores-sunsetting-the-evm-in-favor-of-a-simpler-ethereum-execution-model/
