- Sei Labs is integrating Ethereum Virtual Machine (EVM) support in the Sei blockchain’s upcoming V2 upgrade, enabling Ethereum-based contracts to operate on the Sei network.
- The V2 upgrade, expected to be rolled out in the first half of 2024, will also introduce SeiDB to improve the platform’s storage layer and prevent state bloat.
Enhancing Interoperability with Ethereum Virtual Machine
Sei, a Layer 1 blockchain focused on trading, is poised to undergo a transformative upgrade with its upcoming version 2 (V2). This upgrade, led by Sei Labs, will introduce support for the Ethereum Virtual Machine (EVM), significantly expanding the network’s capabilities and interoperability.
Facilitating Ethereum Contract Integration
With the addition of EVM support, Sei V2 will enable developers to seamlessly port Ethereum-based smart contracts over to the Sei network. To achieve this, Sei V2 will incorporate Geth, the most widely used Ethereum client software, as part of its architecture. This integration will allow for efficient interaction between Sei’s existing smart contracts component, based on CosmWasm technology, and the EVM component.
Expanding on Sei V1’s Foundation
Building on the foundational work of Sei V1, which launched in August on the mainnet beta with support for Cosmos smart contracts written in Rust, Sei V2 aims to attract a broader developer community. The upgrade will include a fully parallelized EVM-compatible layer with sub-second finality, enhancing the speed and efficiency of transactions on the network.
Introducing SeiDB for Enhanced Performance
In addition to EVM support, Sei V2 will introduce SeiDB, a new data structure designed to improve the platform’s storage layer. This development is aimed at preventing state bloat, a condition where the network becomes overloaded with data, and simplifying the state synchronization process for new nodes. The goal is to bolster the Sei blockchain’s overall performance and scalability.
Upcoming Release and Security Audits
The Sei V2 upgrade is currently in the final stages of code development and undergoing a comprehensive audit process to ensure its security. The release is scheduled for a public testnet in the first quarter of 2024, with the mainnet deployment expected in the first half of the year.
About Sei Blockchain
Sei is a Cosmos SDK-based proof-of-stake blockchain, optimized for trading with its sub-second block execution capability. In April 2023, Sei Labs raised $30 million in strategic funding, positioning itself as a competitor in the niche market of fast decentralized trading within the Cosmos ecosystem.