Sei Labs to Incorporate Ethereum Virtual Machine Support in Sei V2 Upgrade

Sei Labs has announced its plans to incorporate Ethereum Virtual Machine (EVM) support into its upcoming Sei V2 upgrade, which will enable a seamless transition of Ethereum-based contracts onto the Sei network. The integration of EVM signifies a notable progression from Sei's current smart contract framework, based on CosmWasm technology. Sei V2 will also introduce SeiDB, a data structure designed to optimize the platform's storage layer and prevent state bloat. The Sei V2 upgrade is undergoing thorough security audits, and 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. The anticipation surrounding the Sei V2 update has influenced the market, with SEI, Sei's native token, enjoying a dramatic jump to an all-time high of $0.284978, reflecting an 8.62% surge from the intra-day low.