Sei V2 Upgrade to Support Ethereum Virtual Machine (EVM)
Sei, a trading-focused Layer 1 blockchain, is set to incorporate support for the Ethereum Virtual Machine (EVM) in its upcoming version 2 (V2) upgrade. This means that developers will be able to migrate Ethereum-based contracts to the Sei network and utilize them there.
The integration of EVM into Sei V2 will involve the implementation of Geth, which is a widely used Ethereum client software. Sei Labs has developed a specialized interface to enable interaction between Sei’s existing smart contracts component, based on CosmWasm technology, and the EVM component.
According to Jay Jog, co-founder at Sei Labs, this upgrade is an additive change that allows different virtual machines to interact with each other. It will make Sei V2 the first network where EVM and CosmWasm contracts can call each other.
Expanding on Sei V1
Sei has been operating on the mainnet beta since its V1 launch in August. It initially offered support for Cosmos smart contracts written in Rust. With the introduction of Sei V2, the aim is to attract a wider range of developers by adding a fully parallelized EVM-compatible layer with sub-second finality.
In addition to EVM support, Sei V2 introduces SeiDB, a data structure designed to enhance the platform’s storage layer. SeiDB prevents state bloat and simplifies state synchronization for new nodes, ultimately improving performance and scalability.
The code development for the Sei V2 upgrade is nearing completion and currently undergoing a thorough security audit. It is expected to be released on a public testnet in Q1 2024 and deployed on the mainnet in the first half of the year.
What is Sei?
Sei is a proof-of-stake blockchain based on Cosmos SDK, specifically designed for trading with its ability to execute sub-second blocks. In April 2023, Sei Labs raised $30 million in strategic funding rounds from venture firms like Jump and Multicoin Capital.
With its focus on fast decentralized trading, Sei competes with other Cosmos chains such as Osmosis, Kava, Injective, Neutron, and Kujira.
Hot Take: Sei V2 Upgrade Bridges Ethereum and Sei Networks
The upcoming Sei V2 upgrade represents a significant development for the blockchain industry as it brings together the capabilities of Ethereum and Sei networks. By adding support for the Ethereum Virtual Machine (EVM), developers can seamlessly migrate their Ethereum-based contracts to the Sei network and leverage its trading-focused features.
This integration not only expands Sei’s appeal to a wider range of developers but also enhances its performance and scalability through the introduction of SeiDB. With Sei V2, Sei aims to become a leading platform for fast decentralized trading while fostering interoperability between different virtual machines.
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