Sei Labs has announced the introduction of Sei v2, a transformative upgrade that integrates the Ethereum Virtual Machine (EVM) into its architecture. This update positions Sei as the first blockchain platform to offer parallelized EVM, merging the strengths of both Solana and Ethereum.

Performance and Innovation at the Forefront

Since its mainnet beta debut in August 2023, SEI has consistently set new performance standards in the blockchain world. With block finalizations clocking in at an impressive 390ms, Sei is currently the fastest blockchain in existence. In addition, it has sustained over 45 transactions per second, showcasing remarkable efficiency and reliability without any network downtimes.

What are the Key Features of Sei V2?

EVM Backward Compatibility: Sei V2 introduces seamless integration with existing Ethereum smart contracts. By incorporating Geth (Go Ethereum) into the Sei chain binary, developers can now redeploy their Ethereum-based contracts on Sei without any code alterations, ensuring full EVM bytecode compatibility.

Innovative Optimistic Parallelization: This upgrade features a groundbreaking approach to transaction processing, allowing transactions to be processed in parallel initially, with conflicts resolved in a deterministic manner. This optimizes chain efficiency and reduces development complexity.

SeiDB – A Storage Revolution: Sei V2 unveils SeiDB, an optimized database structure that transforms the traditional IAVL tree into a dual-component system comprising a state store and state commitment. This shift significantly reduces latency and disk usage, with Sei V2 also transitioning to PebbleDB for enhanced read/write performance.

Enhanced Interoperability: The upgrade ensures smooth interoperability between different transaction types within Sei, including Cosmwasm and EVM transactions, creating a more unified and flexible environment for users and developers.

Unmatched Transaction Throughput: Sei V2 promises an exceptional throughput of 28,300 batched transactions per second, coupled with rapid 390ms block times and finality. This is a substantial improvement over existing blockchain capabilities, promising more interactive experiences at lower transaction costs.

Also read: SEI Price Prediction 2024 to 2030

When will SEI V2 launch?

The development of Sei V2 is nearing completion, with plans for a public testnet launch in early 2024, followed by a mainnet deployment in the first half of the same year.

Here is a post by Jayendra (Co-Founder @Sei_Labs) on X app:


How does EVM upgrade in SEI V2 help users?

Sei V2 is set to simplify the EVM experience significantly, offering enhanced throughput and reduced transaction costs, free from the centralization and complexity challenges of Ethereum L2 rollups.

Sei V2 represents a major step forward in blockchain technology, blending speed, efficiency, and EVM compatibility in a package that could redefine user and developer experiences in the blockchain space. This development is eagerly awaited in the crypto community, promising to open new avenues for blockchain applications and usage.