Sei V2 Mainnet Launches Successfully, Bringing Scalability to Ethereum-Based Blockchain

Sei, a high-speed blockchain project, has successfully launched its V2 update, marking a new era of scalability for the Ethereum-based blockchain. For the first time, the parallelization of Ethereum is live.

According to a press release, the V2 update has enabled significant improvements in transaction processing, with a 100-fold increase in throughput compared to existing EVM-based blockchain TPS. This upgrade also allows developers to easily port existing Ethereum applications to the V2 network, enhancing the user experience and providing new performance opportunities for developers.

The Sei V2 update is built on the premise that the Ethereum Virtual Machine (EVM) has come to stay. As reported by Electric Capital, nine out of ten crypto developers currently use at least one EVM-compatible blockchain. This technological innovation brings together the popularity of the Ethereum ecosystem with the scalability of Solana.

Sei initially aimed to become the fastest blockchain in the world. However, with the V2 update, the Cosmos-based project has shifted its focus to becoming a compatible blockchain with the Ethereum ecosystem.

The Sei token price is currently trading at 0.54 USD, up 2% from the previous level. This represents a 50% decrease from the all-time high of 1.11 USD.

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