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 Sei’s advanced twin turbo consensus mechanism and optimistic parallelization capabilities, while remaining fully composable with Sei’s existing wasm environment.

This approach means that any Ethereum or Ethereum Layer 2 application can now deploy on Sei to harness Sei's speed and throughput, and users can interact with Sei using familiar tools such as Metamask. The upgrade is code complete and ready for audit, read more here: https://blog.sei.io/sei-v2-the-first-parallelized-evm/

Developers, developers, developers: Today, Sei allows for Cosmwasm smart contracts, which are written in Rust. As Sei continues to garner more developer interest, the biggest request has been additional flexibility in the execution environments that Sei supports. Sei Labs has risen to this challenge with a first of its kind solution. By placing developers' needs at the forefront, Sei is creating the first parallelized EVM.

Embracing EVM: For the first new execution environment to be integrated, Sei Labs proposes to support the Ethereum Virtual Machine (EVM), recognizing its widespread adoption. This strategic proposal acknowledges EVM's current dominance, creating a familiar yet enhanced environment for the majority of blockchain developers, tools, and libraries.

Enhancing Ethereum and Eth L2 Applications with Sei: It is often stated that “any large successful application on ETH requiring high throughput will pivot to being their own L2 or their own appchain”. Unfortunately, L2s are bandwidth bound by the Ethereum base layer and fundamentally cannot scale, while often simultaneously suffering from centralization trade-offs. At the same time, appchains incur far more infrastructure overhead, risk and complexity than many teams are willing to take on.

Sei v2 will bolster any execution environment built atop it with its advanced twin turbo consensus mechanism and parallelization capabilities. This approach equips Ethereum applications to harness Sei's speed, efficiency, and security.

What does this mean? This proposed upgrade means that any EVM application can be enhanced with the benefit of 28,300 batched transactions per second of throughput, with 390 ms time to finality. This allows applications to support many more users and far more ‘web-2’ like interactive experiences than on existing EVM blockchains. As a technology, Sei offers far cheaper per-transaction costs, higher throughput and the fastest time to finality in crypto, while suffering from none of the centralization tradeoffs, complexity or the overhead of operating an Ethereum L2 rollup.

In this way, Sei is making the EVM simple again.

Some examples of applications that would benefit from this approach are scalable high performance dexes of any kind, massive multiplayer games, global payment and settlement applications and NFT projects looking to service mass global audiences. In short: applications that aspire to achieve mass adoption.

Wen? Once audits are complete, this upgrade will be released in a public testnet in Q1 2024, and will be deployed to mainnet in H1 2024, subject to governance.

There are many other important improvements being made to Sei as part of Sei v2; you can read more here: https://blog.sei.io/sei-v2-the-first-parallelized-evm/

Sei v2: Parallelizing the Ethereum Execution Environment