Sei v2 — reveal the crucial update
Sei v2 is coming very soon! In case of this it is good time to read about the crucial update which is going to happen — crucial changes have been described in the following article.
Heads up then and read them below!
Socials
Sei is getting more and interest from developers, simultaneously getting some key request from them which is an additional flexibility in the execution environments that Sei supports.
Finally, as a result, Sei has proposed the major update, called Sei v2 which involves few crucial changes which will be mentioned in the next part article.
For now let’s have a look on a short comparison on actual and the v2 Sei which has been shown on the graphics.
Backwards compatibility
Backwards compatibility of EVM smart contracts — allowing developers to deploy audited smart contracts from EVM compatible blockchains with no code changes. This exactly means that existing contract (on Ethereum) can be redeployed on Sei with no code changes required!
Reusability
Reusability of familiar and widely used applications and tooling such as Metamask
Optimistic parallelization
Optimistic parallelization — allowing the chain to support parallelization without requiring developers to define any dependencies.
Sei V2 will optimistically run all transactions in parallel. In case of any conflicts (transactions which touch the same state), the chain will track what parts of storage each transaction is touching — transactions touching different parts of storage will be rerun in parallel, and transactions touching the same state will be rerun sequentially.
This will be continued continue until there are no more conflicts.
The Parallelization has been shown on te graphics below (via official post on Sei blog)
SeiDB
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SeiDB — improvements to the storage layer to prevent state bloat, improve state read/write performance, and make it easier for new nodes to state sync and catch up.
Currently, Sei has a vanilla database layer composed of an IAVL tree data structure, while Sei v2 will provide the optimized database (more efficient).
It can be done due to the breaking the IAVL tree into two different components — state store and state commitment.
State store layer will provide low latency direct access to raw key-value pairs (this will help the RPC nodes better serve queries) while state commitment layer uses a highly optimized in-memory IAVL tree which will be responsible for committing data (this will help reach consensus faster since the amount of disk access is significantly reduced).
Sei currently uses a vanilla database layer which is composed of an IAVL tree data structure. This data structure is less efficient from both a storage and latency perspective because of its schema and additional metadata, leading to greater write amplification and slower disk access.
The SeiDB (Storage) has been shown on te graphics below (via official post on Sei blog)
Interoperability
Interoperability with the existing chain, allowing for seamless composability between EVM and any other execution environments supported on Sei.
As an integrated chain, all transactions going to different components of Sei (Cosmwasm, EVM, bank, staking) are able to communicate with each other.
When the chain receives different transactions, they are processed as Sei native transactions and are forwarded to appropriate sections of storage which eads to a more seamless developer experience.
The Interoperability has been shown on te graphics below (via official post on Sei blog)
Summary
Our Sei v2 will be offering 28,300 batched transactions per second of throughput, while offering 390 ms block times and 390 ms finality.
That will help in supporting more and more users and the transaction costs will be still far cheaper than in the other existing blockchains.
Worth to mention is, as it was written by Sei Labs, this update and chain upgrade will be released very soon — in Q1 2024 we will have it to testnet launch ready!
So… Prepare for the revolution!
For full and official article about Sei v2 update feel free to visit link:
https://blog.sei.io/sei-v2-the-first-parallelized-evm/
Socials
Feel free to head up Sei Network official links below:
Sei Website — https://www.seinetwork.io/
Sei Discord — https://discord.gg/sei
Sei Twitter — https://twitter.com/SeiNetwork
Sei Blog — https://blog.sei.io/
Sei Marines (ambassador program)— https://www.sei.io/marines
