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Layer1 network Sei revealed plans to add support for the Ethereum Virtual Machine in its upcoming v2 upgrade. That comes as the project continued to attract developers due to its speed. Meanwhile, the lack of EVM support challenged devs.

The upgrade will allow developers to onboard and use Ether-based contracts on the platform. Sei version 2 will use Geth to implement the EVM.

Introducing Ethereum Virtual Machine support is crucial in attracting more developers and onboarding leading applications from the Ether blockchain to the Sei platform. EVM helps ecosystems build top brands for the metaverse and decentralized finance seamlessly.

Besides the Ethereum Virtual Machine support, the Sei upgrade introduces the data structure SeiDB to enhance the blockchain’s storage layer. SeiDB aims to boost the platform’s scalability and performance.

The Sei version 2 upgrade is under auditing to ensure security. The team scheduled its release on the public testnet for 2024 Q1 and the mainnet launch in the year’s first half.

Sei Lab’s native coin traded with a bullish stance at press time, up 2% within the past day to $0.2598. SEI remained elevated within the previous week, with a substantial 58% surge.

The ongoing optimism in the broad crypto market likely contributed to the token’s upward stance. Meanwhile, ecosystem developments presents SEI as among the alts that will record immense rallies in the future.

The Sei blockchain will likely gain increased recognition due to its tie with the second-largest digital token by value.

The post Sei Labs introduces EVM support to boost developer activity appeared first on Invezz

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