Today, with the rapid development of blockchain technology, the emergence of Sei tokens provides new possibilities for users and developers. The upcoming Sei v2 upgrade will introduce numerous new features, the most notable of which is the first high-performance parallelized Ethereum Virtual Machine (EVM). This innovation will allow the Sei chain to combine the best features of Solana and Ethereum, significantly improve the user experience, and open up a new design space for developers. Compared with the current Ethereum ecosystem solutions, the throughput will be increased by 100 times. .
Basic characteristics of Sei token
Currently, Sei already supports CosmWasm smart contracts and related “CW” tokens. With the upcoming Sei v2 upgrade, Sei will support two execution environments simultaneously: CosmWasm and EVM. This means that all token standards available on the Ethereum blockchain, such as ERC-20 and ERC-721, will also be present on Sei.
Sei’s architectural advantages: Both CosmWasm and EVM will inherit all the advantages of Sei’s optimized architecture, including the fastest final confirmation time in the blockchain and the ability to handle thousands of TPS. Users can try out the first test implementation to demonstrate interoperability via the following link:
Minting CW-721 NFT via Webump using Metamask
Mint CW-721 NFT via Sei using Metamask
Swap CW-20 Tokens (ORCA) on EVM DEX via Dragonswap
Liquid staking of Sei via Silo using Metamask wallet
Developers can find the Devnet faucet here to experience Sei’s new features.
Sei v2 interoperability
How will EVM and CosmWasm interoperability work in Sei v2? Simply put, users can use existing Sei applications and interact with any token on Sei through any Ethereum wallet, provided that developers are required to briefly license their applications or tokens according to the proposed instructions below. upgrade.
Solution challenges: While introducing two execution environments has great potential, it may also introduce complexities that impact Sei’s ecosystem and user experience. Here are some questions to consider:
Liquidity Fragmentation: Any given token should be accessible between EVM and CosmWasm without the need to create a “wrapper” asset. Decentralized exchanges (DEXs) and marketplaces should be able to list both CosmWasm and EVM tokens.
Wallet Fragmentation: Users should be able to use the same wallet in any application on Sei, regardless of its execution environment.
Security Assumption: Solutions to address these issues should not introduce additional risk to Sei users, and users should not need to export private keys to a new wallet.
Solutions from Sei Labs
Sei Labs proposes a set of features to bridge the gap between EVM and Wasm, enabling smooth and convenient interaction between the two environments. All tokens currently on Sei, whether NFTs (CW-721) or “tokens” (CW-20), are compatible with EVM wallets and applications via pointer contracts.
NFT and token interoperability: Through pointer contracts, users can easily interoperate existing tokens on Sei with EVM wallets. This design not only simplifies the user's operation process, but also enhances the flexibility of using the Sei chain.
future outlook
As the Sei v2 upgrade approaches, the future of blockchain technology seems brighter. Developers and users alike will benefit from this innovative interoperability, and the Sei token will play an important role in the broader ecosystem. By integrating EVM and CosmWasm, Sei not only improves its technical capabilities, but also brings new ideas to the entire blockchain industry.
Frequently Asked Questions: At the end of the article, we provide answers to some frequently asked questions to further clarify issues that users may be concerned about:
What are the main benefits of the Sei v2 upgrade?
The Sei v2 upgrade will introduce high-performance parallelized EVM to enhance user experience and developer design space.
How to use EVM wallet on Sei? Users can interact with tokens on Sei through their EVM wallet with a simple application upgrade.
How does Sei handle liquidity and security issues? Sei Labs has come up with solutions to ensure liquidity is not fragmented and user security is maintained.
Through the Sei v2 upgrade, Sei tokens will become an important bridge connecting different blockchain ecosystems, providing users and developers with a more convenient and secure experience. In the future blockchain world, Sei will play an increasingly important role.