The Sei Foundation Proposes Upgrade to Sei Blockchain
The Sei Foundation announced a proposal to upgrade the Sei blockchain to version 2 with enhanced capabilities and performance. The upgrade aims to introduce a high-performance, parallelized Ethereum Virtual Machine (EVM) to improve the network’s efficiency.
Sei Network’s Transition to Version 2: Enhancing Performance
- The proposed upgrade to Sei blockchain version 2 will enable seamless porting of Ethereum-based contracts to Sei.
- This upgrade will offer sub-second transaction finality, confirming transactions in less than one second for a smoother user experience.
- Sei v2 will provide compatibility with advanced features like parallelized execution, positioning it against other parallelized EVMs like Monad and Neon.
- Sei blockchain’s integration of SeiDB, a new data structure, will efficiently manage data, reducing state bloat and facilitating smoother state synchronization for new network nodes.
Market Impact and Future Prospects of the Upgrade
- The upgrade implementation will occur in three stages: governance voting, alpha launch, and beta launch.
- Governance voting will lead to an alpha launch where partners can use the new infrastructure.
- The Sei team aims to continuously optimize the blockchain to support consumer-grade applications serving millions of users.
- Prominent Ethereum-based applications like Uniswap, Frax, Bancor, and others plan to deploy on the Sei v2 network.
- The market reacted positively to the v2 upgrade announcement, with a 10% increase in the cryptocurrency’s value following the news.
Hot Take: Sei Blockchain Upgraded for Future Growth
The proposed upgrade to Sei blockchain version 2 brings enhanced performance and capabilities to the network. With seamless porting of Ethereum-based contracts, sub-second transaction finality, and compatibility with advanced features, the upgrade positions Sei to support consumer-grade applications and cater to millions of users. Prominent Ethereum-based applications are planning to deploy on the Sei v2 network, indicating a positive market outlook for the upgrade’s potential impact on network functionalities.
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