Vitalik 长期 L1 执行层提案全文:用 RISC-V 取代 EVM

链捕手Published on 2025-04-21Last updated on 2025-04-21

原标题:《Long-term L1 execution layer proposal: replace the EVM with RISC-V》

作者:Vitalik Buterin

编译:KarenZ,Foresight News

 

4 月 20 日,Vitalik Buterin 在 Ethereum Magicians 平台提出一项关于以太坊长期 L1 执行层的重要提案。他建议采用 RISC-V 架构取代现有的 EVM(以太坊虚拟机)作为编写智能合约的虚拟机语言,旨在从根本上提升以太坊执行层的运行效率,突破当前主要的扩展瓶颈之一,同时大幅简化执行层的简洁性。

Foresight News 对该提案进行了全文编译,旨在帮助读者了解这一技术设想。以下为提案原文的编译内容:

本文提出了一个关于以太坊执行层未来的激进想法,其雄心程度不亚于共识层的 Beam Chain 计划。该提案旨在大幅提高以太坊执行层的效率,解决主要的扩展瓶颈之一,并显著简化执行层——事实上,这可能是实现这一目标的唯一途径。

核心构想:用 RISC-V 取代 EVM,作为智能合约编写的虚拟机语言。

重要说明:

  • 账户体系、跨合约调用、存储等概念将完全保留。这些抽象设计运作良好且开发者已习惯使用。SLOAD、SSTORE、BALANCE、CALL 等操作码将转变为 RISC-V 系统调用。
  • 在此模式下,智能合约可用 Rust 编写,但我预计多数开发者仍会继续使用 Solidity(或 Vyper)编写合约,这些语言将适配 RISC-V 作为新后端。因为用 Rust 编写的智能合约实际上可读性较差,而 Solidity 和 Vyper 更清晰易读。开发体验可能几乎不受影响,开发者甚至可能察觉不到变化。
  • 旧版 EVM 合约将继续运行,并与新版 RISC-V 合约完全双向兼容。实现方式有几种,本文后续将详细探讨。

Nervos CKB VM 已开创先例,其本质上就是RISC-V 实现

为何这样做?

短期来看,即将实施的 EIP(如区块级访问列表延迟执行、分布式历史存储及EIP-4444)能解决以太坊 L1 的主要扩展瓶颈。中期将通过无状态性和 ZK-EVM 解决更多问题。长期来看,以太坊 L1 扩展的主要限制因素将变为:

  1. 数据可用性采样和历史存储协议的稳定性
  2. 保持区块生产市场竞争性的需求
  3. ZK-EVM 的证明能力

我将论证,替换 ZK-EVM 为 RISC-V 可以解决(2)和(3)中的关键瓶颈。

下表展示了 Succinct ZK-EVM 证明 EVM 执行层各环节所需的周期数:

图表说明:四个主要耗时环节为 deserialize_inputs、initialize_witness_db、state_root_computation 和 block_execution

其中 initialize_witness_db 和 state_root_computation 与状态树相关,deserialize_inputs 涉及将区块和见证数据转换为内部表示的过程——实际上超过 50% 与见证数据大小成正比。

通过将当前的 keccak 16-ary Merkle patricia tree 替换为使用使用易于证明的哈希函数的 binary tree,这些部分可以得到大幅优化。如果使用 Poseidon,我们可以在笔记本电脑上每秒证明 200 万次哈希值(相比之下,keccak 约为 15,000 hash/sec)。除了 Poseidon,还有许多其他选择。总的来说,这些组件有很大优化的空间。此外,我们可以通过移除 bloom来消除 accrue_logs_bloom。

剩下的 block_execution 约占当前证明周期(prover cycles)的一半。若要实现 100 倍的整体证明效率提升,EVM 证明效率至少需要提升 50 倍。解决方案之一是为 EVM 创建更高效的证明实现,另一方案是注意到当前 ZK-EVM 证明器实际是通过将 EVM 编译为 RISC-V 进行证明,直接让智能合约开发者访问该 RISC-V 虚拟机。

部分数据显示在特定情况下效率提升可能超 100 倍:

实际应用中,剩余的 prover 时间可能主要由当前的预编译(precompiles)操作占据。若将 RISC-V 作为主虚拟机,Gas schedule 将反映实际证明时间,经济压力将促使开发者减少使用高成本预编译。即便如此,增益也不会如此显著,但我们有充分的理由相信,这些增益将非常可观。

(值得注意的是,常规 EVM 执行中 「EVM 操作」 与 「其他操作」 的耗时占比也接近 50/50,因此我们直观认为,移除 EVM 作为「中间层」将带来同等显著的增益)

实施细节

该提案有多种实现方式。破坏性最小的方案是同时支持两种虚拟机,允许合约任选其一编写。两类合约都能访问相同功能:持久化存储(SLOAD/SSTORE)、持有 ETH 余额的能力、发起 / 接收调用等。EVM 与 RISC-V 合约可互相调用——从 RISC-V 视角看,调用 EVM 合约相当于执行带特殊参数的系统调用;而接收消息的 EVM 合约会将其解释为 CALL。

从协议角度看更激进的方法是将现有 EVM 合约转换为调用用 RISC-V 编写的 EVM 解释器合约,运行其现有 EVM 代码。即,如果一个 EVM 合约有代码 C,EVM 解释器位于地址 X,那么该合约将被替换为顶层逻辑,当从外部以调用参数 D 调用时,调用 X 并传入 (C, D),然后等待返回值并转发。如果 EVM 解释器本身调用该合约,要求运行 CALL 或 SLOAD/SSTORE,那么合约就执行这些操作。

折中方案是采用第二种方案,但通过协议明确支持「虚拟机解释器」概念,要求其逻辑用 RISC-V 编写。EVM 将是首个实例,未来还可支持其他语言(Move 可能是候选方案)。

第二和第三种方案的核心优势在于,它们可极大简化执行层规范。考虑到即使是移除 SELFDESTRUCT 这样的渐进式简化都困难重重,这种思路可能是唯一可行的简化路径。Tinygrad 遵循「代码不超过 1 万行」的硬性规定,而最优区块链底层理应能轻松满足这一限制,并进一步精简。Beam Chain 计划有望大幅简化以太坊共识层,而执行层若想实现类似提升,这种激进变革可能是唯一可行之路。

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What is SHOPON

Shopify Tokenized Stock (Ondo): A Comprehensive Analysis of Real-World Asset Tokenization in Web3 This article delves into the Shopify Tokenized Stock (Ondo), recognised by its ticker symbol $SHOPON, exploring its implications at the intersection of traditional finance and blockchain technology. As a part of Ondo Finance's tokenized securities platform, Shopify’s tokenized stock exemplifies advancements in democratizing access to global capital markets through innovative digital assets. Introduction and Overview of Shopify Tokenized Stock (Ondo) Shopify Tokenized Stock (Ondo), or $SHOPON, portrays a pivotal innovation in the realm of tokenized securities, allowing investors to gain economic exposure akin to directly owning shares of Shopify Inc. This token, developed under the umbrella of Ondo Finance, not only provides investors with the ability to hold digital representations of the company’s stock but also integrates features such as automatic reinvestment of dividends. This advancement represents a substantial shift in the landscape of decentralized finance (DeFi), linking conventional equity markets with blockchain solutions designed to enhance accessibility, transparency, and liquidity. By eliminating geographical barriers and enabling 24/7 trading capabilities, $SHOPON is positioned as a bridge connecting traditional financial instruments and the emerging Web3 ecosystem. What is Shopify Tokenized Stock (Ondo), $SHOPON? The $SHOPON token serves as a digital manifestation of Shopify Inc.'s shares, engineered to provide a direct correlation to the underlying asset's performance. Through the utilization of blockchain technology, the token gives holders a mechanism to participate in the economic benefits associated with equity ownership, including capital appreciation and dividend distribution. The unique aspect of $SHOPON lies in its automatic dividend reinvestment mechanism, which allows returns to compound without necessitating active management by the investor. This feature inherently enhances its attractiveness as an investment vehicle, particularly for individuals seeking passive income growth alongside exposure to high-performing equities. The tokenization process is facilitated by the custody of actual Shopify shares through regulated intermediaries, ensuring that every $SHOPON token is verifiably backed by real equity. This structure empowers investors with the dual advantages of both traditional financial characteristics and the innovative benefits tied to blockchain technology. Who is the Creator of Shopify Tokenized Stock (Ondo)? The creator of Shopify Tokenized Stock (Ondo), Nathan Allman, is an experienced figure in the finance sector, formerly associated with Goldman Sachs. His rich background includes significant expertise in digital asset development, bridging the gap between traditional finance and cryptocurrencies. Allman’s educational journey, marked by studies at Brown University, provided him with a deep understanding of economics and biology, equipping him with analytical skills that inform his strategic vision. In 2021, he founded Ondo Finance, committing to developing tokenized securities that meet institutional-grade standards while leveraging blockchain's transformative capabilities. Under Allman's leadership, Ondo Finance has focused on creating compliant and innovative financial products that empower a diverse investor base. Who are the Investors of Shopify Tokenized Stock (Ondo)? The investment landscape surrounding Shopify Tokenized Stock (Ondo) is notably robust, underpinned by significant institutional support. Primarily, Pantera Capital stands out as a strategic partner through the Ondo Catalyst initiative, a $250 million commitment aimed at accelerating the development of on-chain capital markets. This partnership not only signifies institutional confidence in the potential of tokenized assets but also reinforces Ondo Finance's operational capabilities and market positioning. The funding pathways have included earlier rounds that amassed millions in seed funding and further structural investments, solidifying relationships with both venture capital firms and private investors. Moreover, the financial framework is complemented by strategic partnerships with established financial institutions and technology companies, enhancing Ondo’s infrastructure and operational expertise. How Does Shopify Tokenized Stock (Ondo), $SHOPON Work? At the core of $SHOPON's operational framework is a sophisticated system integrating traditional finance mechanisms with blockchain technology. The custody of actual Shopify shares ensures that token holders retain authentic economic exposure, safeguarding their investments in line with recognized legal structures. The smart contracts employed in managing $SHOPON handle various functions, including automatic dividend reinvestment and ownership transfer, offering instant settlement and increased liquidity, marking a significant departure from conventional trading systems plagued by multi-day settlement delays. By providing interoperability with other decentralized finance applications, $SHOPON empowers holders with potentially lucrative opportunities for advanced investment strategies, including lending and automated market making. This complex integration presents a unique value proposition, catering to both traditional and crypto-native investors. The innovative structure of $SHOPON also allows for real-time settlements and transactions documented on the blockchain, delivering unparalleled transparency and security—a major advancement over standard equity trading practices. Timeline of Shopify Tokenized Stock (Ondo) March 2021: Nathan Allman establishes Ondo Finance, initially focusing on decentralized finance yield optimization. August 2021: Completion of a $4 million seed funding round led by Pantera Capital. January 2023: Launch of initial tokenized treasury security products, laying the groundwork for future equity tokenization. July 2025: Announcement of the Ondo Catalyst initiative, a strategic investment program valued at $250 million, aimed at propelling the development of tokenization in capital markets. September 3, 2025: Launch of Ondo Global Markets featuring over 100 tokenized U.S. stocks and ETFs, including $SHOPON. Technical Implementation and Blockchain Infrastructure Shopify Tokenized Stock (Ondo) operates on a technical architectural framework that marries blockchain protocols with traditional financial custody arrangements. The ecosystem leverages Ethereum's smart contract capabilities, providing seamless transaction management while ensuring compliance with regulatory standards through established financial custodians. Central to this architecture are security measures and transparent transaction records that affirm the legitimacy of each tokenholder's economic stake. With automated features managed by intricate smart contracts, $SHOPON not only streamlines ownership transfers but also allows for the tactical reinvestment of dividends—a hallmark of modern investment strategies. Moreover, the incorporation of LayerZero technology facilitates cross-chain interoperability, making $SHOPON accessible across multiple blockchain environments while preserving its functional robustness. This forward-thinking technical design positions $SHOPON as an adaptable asset within the larger DeFi milieu. Regulatory Framework and Compliance Architecture $SHOPON's regulatory framework is built upon the meticulous navigation of existing financial regulations that govern securities. The custody arrangements for the underlying Shopify shares are managed by U.S.-regulated broker-dealers, ensuring compliance and protection for investors. By maintaining a separation between the blockchain tokenization process and traditional custody, $SHOPON adheres to legal requirements while offering innovative functionalities that challenge conventional constraints. This dual-layered compliance approach enhances investor confidence and underscores Ondo Finance's commitment to regulatory integrity. Notably, the availability of $SHOPON is tailored to international investors from regions such as Asia-Pacific, Europe, and Africa, as regulatory parameters in the U.S. and U.K. present challenges in accessing tokenized securities. Market Access and Global Distribution Strategy The distribution strategy of $SHOPON is keenly designed to optimize global access while conforming to regulatory standards. The platform aims to establish comprehensive coverage for eligible investors across multiple regions, effectively dismantling traditional barriers through the implementation of blockchain technology. Integration with various cryptocurrency wallets and exchanges also promotes user-friendliness and accessibility, establishing a streamlined experience for investors to manage their holdings. Moreover, the 24/7 trading capabilities afforded by the tokenized model allow participants to react promptly to market shifts, fundamentally transforming how global equities are accessed and traded. Technology Integration and Cross-Chain Functionality The remarkable technological underpinnings of $SHOPON propagate its multi-chain functionality, set to expand its reach beyond Ethereum to networks such as Solana and BNB Chain. Such cross-chain capabilities allow users flexibility when navigating between blockchains, concurrently leveraging distinct network attributes to optimize their trading experience. LayerZero serves as the backbone for ensuring decentralized transfers between networks while providing the requisite security and speed, quintessential for maintaining investor trust. This comprehensive interoperability illustrates $SHOPON's commitment to being a versatile, user-centric asset in the evolving investment landscape. Ecosystem Integration and DeFi Compatibility Incorporating $SHOPON into broader DeFi protocols signifies its potential beyond traditional stock ownership. Token holders can leverage their holdings for various sophisticated strategies and applications, enhancing investment returns and liquidity management. By establishing a presence in lending protocols and automated trading systems, $SHOPON effectively democratizes access to advanced financial strategies previously limited to institutional investors. Such integration contributes to a more competitive and dynamic financial landscape, where individual investors can capitalize on tools typically reserved for larger entities. Risk Management and Security Framework Security remains paramount in the operational infrastructure of $SHOPON. The tokenization framework employs multiple layers of protection—beginning with regulated custody of the underlying Shopify shares. The operational protocols establish rigorous auditing, key management, and transaction monitoring standards, thus safeguarding against potential vulnerabilities. Moreover, meticulous adherence to evolving regulatory requirements provides an extra layer of security, fortifying investor protections and institutional compliance. Market Impact and Industry Implications The introduction of Shopify Tokenized Stock (Ondo) heralds a transformative shift in how financial markets operate, emphasizing the potential of tokenized securities to reshape traditional investment paradigms. The successful integration of $SHOPON encapsulates the efficiencies inherent in blockchain technology and opens avenues for new user demographics previously barred from extensive market participation. The impact extends beyond the immediate benefits to token holders, indicating broader trends that may challenge the status quo of investment services, particularly in addressing geographic restrictions and operational costs typically associated with traditional brokerage platforms. Undeniably, $SHOPON encapsulates the potential for traditional institutions to innovate further, leveraging the increasing demand for seamless blockchain access to complement existing financial infrastructure. Future Development Roadmap and Strategic Vision As Ondo Finance looks forward, the trajectory of $SHOPON rests on ambitious goals aimed at broadening the spectrum of available tokenized assets significantly. Over the next few years, plans are in place to expand to more than 1,000 tokenized securities, further enhancing market participation and investment options for individuals worldwide. Continued integration with traditional financial actors, development of specialized institutional products, and enhancements in automated trading capabilities will ensure that $SHOPON maintains its position at the forefront of financial innovation. Regulatory collaboration will also remain a focal point, establishing a framework that not only supports the compliance requirements but also promotes a healthy environment for tokenized asset proliferation. Conclusion and Market Significance In summary, Shopify Tokenized Stock (Ondo), represented by the ticker $SHOPON, is more than merely a tokenized equity offering; it embodies the innovation possible when traditional finance collides with modern blockchain applications. With a robust technical architecture, a commitment to compliance, and a clear strategic vision, $SHOPON exemplifies the potential for tokenized assets to enhance liquidity, accessibility, and functionality in capital markets. As the global investment landscape evolves, the transformative implications of $SHOPON extend beyond individual investors to revolutionize how financial instruments are perceived, traded, and utilized within both traditional and decentralized frameworks.

3.4k Total ViewsPublished 2025.12.05Updated 2025.12.05

What is SHOPON

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