Sei Blockchain to Add EVM Support in V2 Update
Date: 2023-12-03 Author: Dima Zakharov Categories: BLOCKCHAIN
Sei Embraces Ethereum Virtual Machine
Sei, a first-tier blockchain centered around trading, is set to elevate its functionality with the inclusion of Ethereum Virtual Machine (EVM) support in its upcoming V2 update. This strategic move aims to enable the seamless migration and utilization of Ethereum-based contracts within the Sei network, expanding its utility for developers.
Geth Integration for Sei V2
The Sei V2 update will incorporate Geth, an implementation of the Ethereum Virtual Machine in Go. This integration is pivotal, considering Geth's widespread usage as Ethereum's client software. The development team at Sei Labs has designed a specialized interface to facilitate the interaction between the existing Sei smart contract component, based on CosmWasm technology, and the EVM component.
Expanding Sei's Capabilities
Sei's V1, operational since its beta launch in August, initially supported Cosmos smart contracts written in Rust. With the V2 update, Sei aims to broaden its appeal to a more extensive developer community by introducing a fully parallel level compatible with EVM, boasting transaction finality in under a second.
SeiDB and Network Optimization
Aside from EVM integration, Sei V2 introduces SeiDB, a data structure aimed at enhancing the platform's storage capabilities. SeiDB aims to prevent state bloat – an issue when the network becomes excessively burdened with data – and streamline the state synchronization process for new nodes. This initiative aligns with the overarching goal of enhancing Sei's overall performance and scalability.
Roadmap for Sei V2
The Sei V2 update nears completion in terms of code development and is undergoing stringent auditing processes to ensure its security. Scheduled for release in the public testnet in the first quarter of 2024, the mainnet deployment is expected in the first half of the year.
Sei, a Cosmos SDK-based blockchain with proof-of-stake, focuses on optimizing trading by executing blocks in less than a second. With its recent funding rounds, Sei Labs secured $30 million in strategic financing, affirming its position as a significant player within the blockchain space.
Through its swift decentralized trading capabilities, Sei competes within a niche market, challenging other Cosmos networks like Osmosis, Kava, Injective, Neutron, and Kujira.
