Sei Introduces V2 Compatible with EVM Virtual Machine System
Blockchain Layer-1 Sei will support compatibility with the Ethereum Virtual Machine (EVM) in its upcoming V2 update.
Sei Introduces V2 Compatible with EVM Virtual Machine System
Sei to support EVM
To facilitate the development of Ethereum-compatible smart contracts, Sei V2 will integrate Geth, a popular client software within the EVM ecosystem.
Sei Labs has announced the development of an interface supporting smart contracts (currently based on CosmWasm technology) capable of interacting with the EVM. CosmWasm, a module of the Cosmos SDK toolkit, enables chains to operate smart contracts within the Cosmos ecosystem. With V2, this integration process will become more straightforward within the Sei ecosystem.
Jay Jog, co-founder of Sei Labs, shared:
"Sei V2 represents a significant update. All existing components of CosmWasm will continue to exist. However, this version allows for customizable chain mechanisms, enabling multiple virtual machine systems to operate in parallel. This will make Sei V2 the first network to support both EVM and CosmWasm contracts interacting and invoking functions with each other."
Sei v2: Parallelizing the Ethereum Execution Environment
— Sei 🔴💨 (@SeiNetwork) November 29, 2023
Sei v2 is poised to become the first parallelized EVM blockchain. This major proposed update from Sei Labs aims to deploy a backward compatible Ethereum execution environment integrated into Sei’s core binary, inheriting… pic.twitter.com/6bfYeVsBLX
Noteworthy Changes
Sei V1 entered the beta mainnet phase back in August, supporting the development of Cosmos smart contracts using the Rust language. With V2, the project team aims to appeal to a broader range of developers. An EVM-compatible layer will be integrated alongside the existing Finality mechanism, which achieves sub-second finality on the network.
Read more: What is Single-slot Finality? How does Ethereum benefit from this approach?
In addition, Sei V2 introduces SeiDB, a data structure aimed at improving the network's storage layer. According to the team, SeiDB will reduce State Bloat and streamline State synchronization for new nodes joining the network. This enhancement aims to boost performance and scalability for the Sei blockchain.
Learn more: What is Metamask?
Sei V2 is currently in the final stages of code completion and will soon undergo technical audit checks. The testnet for this version is expected to launch in Q1/2024, with mainnet deployment scheduled for the first half of the following year.
About the Sei Blockchain
Sei is a PoS blockchain developed using the Cosmos SDK toolkit, designed to optimize user experience with block validation times under 1 second. In April 2023, Sei Labs successfully raised $30 million in two strategic funding rounds (led by Jump and Multicoin Capital).
