KEY TAKEAWAYS
- Sei Labs introduces Sei v2, the first parallelized EVM, to tackle Ethereum’s scalability issues, achieving significant milestones since its launch.
- The roadmap aims to scale the EVM to 5 gigagas per second, enhancing throughput by 50 times through three focused workstreams: Consensus, Storage, and Execution.
- Sei Labs plans to engage the developer community with an Office Hours session to discuss the Giga Roadmap and future developments.
Sei Labs has announced ambitious plans to address the scalability challenges faced by the Ethereum Virtual Machine (EVM), a critical component of blockchain technology. The EVM, which has become a cornerstone for smart contract development, is currently limited by its transaction processing capabilities, supporting only around 100 transactions per second. This limitation poses significant challenges for developers seeking to build complex applications on blockchain platforms.
Sei Labs is tackling these challenges head-on with the introduction of Sei v2, the first parallelized EVM, which went live on the mainnet beta in July 2024. Since its launch, Sei v2 has achieved several milestones, including surpassing $250 million in Total Value Locked (TVL), reaching 400,000 daily active addresses, and onboarding 150 projects on the mainnet. Despite these achievements, the team acknowledges that further enhancements are necessary to achieve web2 levels of throughput.
Sei’s Roadmap to Enhanced Performance
Sei Labs is committed to scaling the EVM to 5 gigagas per second, a metric that measures the computational work a network can handle every second. This initiative aims to create the most performant EVM blockchain in the industry, offering 50 times greater throughput than current mainnet capabilities. The roadmap for this ambitious goal is divided into three workstreams: Consensus, Storage, and Execution.
The Execution Workstream focuses on minimizing inefficient operations and rebuilding the EVM client from the ground up. This includes incorporating ahead-of-time compilation and intelligent parallelization to enhance transaction processing. Additionally, a new encoding format will be introduced to reduce processing overhead and improve performance.
In the Consensus Workstream, Sei Labs plans to optimize the consensus mechanism for speed without compromising security. This involves decoupling consensus from execution, allowing for asynchronous execution and the introduction of multiple concurrent proposers to improve network liveness and reduce censorship risks.
The Storage Workstream aims to handle large volumes of transactions efficiently by optimizing storage solutions. This includes asynchronous state root generation and disk writes, as well as enhancing the key-value database for faster data retrieval.
Future Developments and Community Engagement
Sei Labs has already begun work on these initiatives and expects significant progress by the end of Q1 2025. To engage with the developer community, Sei Foundation will host a special Office Hours session on December 19th, 2024, at 1 PM EST, where developers can explore the Giga Roadmap and discuss the ongoing developments.
For more information on Sei Labs’ initiatives and to participate in their community events, visit their official announcement here.
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