{"id":203054,"date":"2023-11-29T21:36:36","date_gmt":"2023-11-29T16:06:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=203054"},"modified":"2023-11-29T21:36:36","modified_gmt":"2023-11-29T16:06:36","slug":"sei-v2-upgrade-boosts-sei-token-rally-to-all-time-high-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sei-v2-upgrade-boosts-sei-token-rally-to-all-time-high-crypto-news\/","title":{"rendered":"Sei V2 Upgrade Boosts SEI Token Rally to All-Time High – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Sei Labs has announced plans to incorporate Ethereum Virtual Machine (EVM) support into its upcoming Sei V2 upgrade. This development will enable a seamless transition of Ethereum-based contracts onto the Sei network, marking a pivotal step in blockchain interoperability and functionality.<\/span><\/p>\n

Facilitating Ethereum Contract Integration<\/h2>\n

Sei V2 will utilize Geth, the predominant Go implementation of the Ethereum Virtual Machine, to embed EVM support. This move signifies a notable progression from Sei\u2019s current smart contract framework, based on CosmWasm technology, a custom module for the Cosmos ecosystem. Moreover, a specialized interface developed by Sei Labs will facilitate the interaction between the network\u2019s existing CosmWasm smart contracts and the newly integrated EVM.<\/span><\/p>\n

<\/p>\n

Jay Jog, co-founder at Sei Labs, explains, <\/span><\/p>\n

\n

\u201cSei V2 represents an additive change, retaining all existing components like CosmWasm. Different virtual machines will interact with the proposed chain modification, enabling EVM and Cosmwasm contracts to communicate for the first time.\u201d<\/span><\/p>\n<\/blockquote>\n

Initially launched in August with its V1 on the mainnet beta, Sei <\/span>offered <\/span><\/a>support for Cosmos smart contracts written in Rust. The V2 upgrade aims to broaden its developer appeal by adding a fully parallelized EVM-compatible layer, notable for its sub-second finality, thus enhancing transaction confirmation speed.<\/span><\/p>\n

<\/p>\n

Innovating with SeiDB<\/h2>\n

Additionally, Sei V2 introduces SeiDB, a data structure designed to optimize the platform\u2019s storage layer. This feature aims to prevent state bloat, a condition where the network becomes overly data-heavy, and to streamline the state synchronization process for new nodes. These <\/span>improvements <\/span><\/a>will significantly boost the Sei blockchain\u2019s performance and scalability.<\/span><\/p>\n

<\/p>\n

The Sei V2 upgrade is undergoing thorough security audits in the final stages of code development. The public testnet launch is scheduled for the first quarter of 2024, with the mainnet deployment anticipated in the first half of the same year. This upgrade underscores Sei Labs\u2019 commitment to advancing blockchain technology and enhancing developer capabilities in the rapidly evolving digital landscape.<\/span><\/p>\n

SEI Records All-time High<\/h2>\n

The market has been considerably influenced by the anticipation surrounding the Sei V2 update, with SEI, Sei\u2019s native token, enjoying a dramatic<\/span> jump<\/span><\/a> to an all-time high of $0.284978, according to CoinStats. SEI was priced at $0.2666 at press time, reflecting an 8.62% surge from the intra-day low.<\/span><\/p>\n

During the upsurge, the SEI\u2019s market capitalization and 24-hour trading volume increased by 8.85% and 246.69%, respectively, to $579,842,125 and $812,078,699.<\/span><\/p>\n

Read Also:<\/b> UK Crypto Users Face New HMRC Tax Compliance Demands<\/span><\/a><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

Kelvin is a distinguished writer specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Recognized for incisive analysis and insightful content, he has an adept command of English and excels at thorough research and timely delivery. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"Bitcoin\"Bitcoin<\/div>\n
Top 6 Facts You Should Know About Bitcoin Halving <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"cryptocurrency\"\"cryptocurrency\"<\/div>\n
Top 7 Crypto Gainers on November 29, 2023 <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"ezgif-4-589fd63a1c\"\"ezgif-4-589fd63a1c\"<\/div>\n
7 worst performing crypto this month : NOV 2023 <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Sei Labs has announced plans to incorporate Ethereum Virtual Machine (EVM) support into its upcoming Sei V2 upgrade. This development will enable a seamless transition of Ethereum-based contracts onto the Sei network, marking a pivotal step in blockchain interoperability and functionality. Facilitating Ethereum Contract Integration Sei V2 will utilize Geth, the predominant Go implementation of […]<\/p>\n","protected":false},"author":2,"featured_media":203055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-203054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=203054"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203054\/revisions"}],"predecessor-version":[{"id":203057,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203054\/revisions\/203057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/203055"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=203054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=203054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=203054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}