SEI V2 Is HERE!! Combining The Best Of Ethereum & Solana?

Summary

Sei V2, sponsored by a team led by a former Goldman banker and a Robinhood engineer, aims to disrupt the crypto trading landscape with its parallelized EVM chain. It combines Ethereum's robust development environment with Solana's high performance, offering EVM compatibility for developers to deploy smart contracts with no code changes. The upgrade introduces optimistic parallelization and SeiDB for efficient data management, promising cheaper transactions and higher throughput. With significant investments and a focus on consumer-grade products, Sei is poised to serve millions of users.

Takeaways

• 🚀 Sei V2 aims to revolutionize the crypto trading landscape with its latest developments, challenging the entire layer-1 space.
• 🔄 Sei V2 is the first parallelized EVM chain, combining the best features of Ethereum and Solana for enhanced performance.
• 💼 Founded by Jeff Feng and Jay Jog, Sei has received significant investment, raising $120 million from major investors like Multicoin Capital and Coinbase Ventures.
• 🔑 Sei's original goal was to be the fastest layer-1 for trading, focusing on rapid transaction speeds and execution times.
• 🛠️ Sei V2's upgrade includes EVM compatibility, allowing developers to deploy smart contracts from EVM-compatible blockchains without code changes.
• 💡 EVM developers on Sei can benefit from cheaper per-transaction costs, higher throughput, and reduced centralization compared to Ethereum L2 rollups.
• 🌐 Sei V2 features a high-performance consensus mechanism called Twin-Turbo, which optimizes Tendermint to achieve near-instant finality at 400ms.
• 🔄 Optimistic parallelization in Sei V2 simplifies development by automatically running all transactions simultaneously, handling conflicts sequentially if they arise.
• 🗃️ Sei introduces SeiDB, a specialized database architecture designed for efficient data storage and access, enhancing the blockchain's performance and reliability.
• 📊 With the upgrade, Sei V2 supports various dApps, including Yei Finance for lending and borrowing, Dragonswap for asset swapping, and Pallet Exchange for NFT trading.
• 🌐 The Sei Foundation is committed to continuous optimization, with a vision to support consumer-grade products capable of serving millions of users.

Q & A

What was the initial goal of Sei when it was launched?

Sei was launched with the goal of revolutionizing the crypto trading landscape.

What significant upgrade did Sei V2 bring to the table?

Sei V2 introduced a massive upgrade, making Sei the first parallelized EVM chain and combining the best features of Ethereum and Solana.

Who are the founders of Sei and what is their background?

Sei was founded by Jeff Feng, a former Goldman banker, and Jay Jog, a former Robinhood software engineer.

What are some of the major investors that have backed Sei?

Sei has secured backing from major investors like Multicoin Capital, Jump Crypto, Coinbase Ventures, and Circle Ventures.

How much funding did Sei raise for its project?

Sei raised $120 million for the project.

What was Sei's original aim in terms of trading speed?

Sei was originally built with the goal of being the fastest L1 for trading, aiming for rapid transaction speeds and execution times.

Why is Sei's EVM compatibility significant for developers?

Sei's EVM compatibility is significant for developers because it allows them to deploy their existing smart contracts from EVM-compatible blockchains with no code changes.

What is the time to finality for transactions on Sei V2?

The time to finality on Sei V2 is drastically reduced to almost instant, at just 400ms, thanks to the Twin-Turbo consensus mechanism.

How does optimistic parallelization on Sei V2 benefit developers?

Optimistic parallelization on Sei V2 simplifies development by automatically trying to run all transactions simultaneously, assuming they won’t interfere with each other, thus speeding up the network.

What is SeiDB and how does it enhance the Sei blockchain?

SeiDB is Sei's specialized database architecture designed to manage data storage and access efficiently, ensuring quick data retrieval and enhancing reliability with a Write-Ahead Log feature.

Can you name some of the dApps available on Sei V2?

Some of the dApps available on Sei V2 include Yei Finance for lending and borrowing assets, Dragonswap for asset swapping, Jellyswap for token swaps and staking, Pallet Exchange for trading NFTs, and Silostake for liquid staking protocols.

What are the future plans for Sei according to the Sei Foundation?

The Sei Foundation is committed to continuing to optimize Sei, aiming to create a blockchain that supports consumer-grade products capable of serving millions of users, with more upgrades expected in the near future.