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Author: IGNAS, DEFI researcher Source: X,@Defiignas Translation: Shan Ouba, Bitchain Vision
Recently, the SEI project has attracted much attention, but what’s special about it?In many emerging L1 and L2 projects, why can the SEI L1 project stand out?
In order to better understand the SEI team’s views on the L1 field, the differences between single and modular blockchain development, and the final vision of the SEI project, I decided to directly ask some problems with the SEI team.
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Other discussions:
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Has Ethereum won the competition of L1?
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What’s special about SEI V2 and parallel EVM?
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What are the exciting development of the SEI and SEI ecosystems next?
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Question 1:
In the era when many L1 and more and more Layer 2 appear, does L1 (especially SEI) still have the significance of existence?Do you agree with the views of SankedH (Polygon) and Matter Labs CEO, that is, Ethereum has won the dispute between L1?
Jeff’s answer:
Jay and I founded SEI Labs in 2021. At that time, we were trying to build a DEX and evaluated each infrastructure option: Ethereum, Avalanche, Arbitrum, Solana, and even Terra!
We soon realized that no matter which Layer 1 or Layer 2 you built it, it is impossible to build a decentralized exchange that truly competes with Coinbase and Binance.
Solving the problem of user experience is the core goal of SEI.If the SEI is successful, the application will be able to provide the user experience of almost the same web2 competitors, which will be very powerful.
Being the first project to be parallelized for EVM is a crucial step in SEI to solve the problem of user experience.SEI has brought some major progress introduced by Solana to the prosperous Ethereum ecosystem.
This journey also includes other major technical advantages, such as optimistic parallelization and dual -pressure consensus mechanism created by the SEI Labs team.
Answer your question directly. SEI is the first project to explore EVM in parallel. It will become a wider potential expansion method for the Ethereum ecosystem.
We hope that the Ethereum community can use the open source code library of SEI to expand new possibilities to expand.
It is easy to think of this industry as zero -sum game.However, in a larger background, the cryptocurrency industry is still in a very early stage, and we have a positive view.Ethereum, SEI, and Layer 2 can help the industry expand in the future.
Question 2:
You recently announced the SEI V2, the first parallel EVM blockchain.But what’s special about the V2 version, what is “parallel blockchain”, I believe few people really understand.Why do DAPP developers choose to build on SEI instead of other L1 and Ethereum L2?
Jeff’s answer:
V2 update is by far the biggest update to the current SEI blockchain.SEI introduced four main improvements:
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Compatible with EVM -SEI use Geth at the bottom to obtain a complete EVM bytecode compatibility.In short, the builders on the SEI can benefit from the huge Ethereum tool universe, such as Metamask, Foundry, Remix, and Hardhat.
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Optimistic parallelization -At present, most of the parallel chains like solana set parallelization to the parallelizationOptionalThis requires developers to do extra work for the use of parallelization, and most developers will not do so.SEI will automatically perform smart contracts, so developers do not have to make any efforts for this.
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SEIDB -SEI will divide status submission and status storage to reduce block treatment time, reduce status expansion, and make new complete nodes faster.
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The SEI V2 will allow the EVM contract to interact with the existing COSMWASM smart contract, and vice versa.This allows the best builders on COSMOS to cooperate with the best builders on Ethereum.
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Why do applications choose SEI?
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The fastest LAYER 1: 390 millisecond determination time in history makes SEI several times faster than Layer 1 and Layer 2 with the highest performance.
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Experience the chain yourself!We are getting closer to the nearly real -time user experience we used in web2 applications.
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SEI V2 uses familiar tools (such as Metamask) to bring SEI’s advantages to global EVM developers.
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SEI V2’s EVM intelligent contract is allowed to deploy the reviewed smart contracts from EVM compatible blockchain without changing the code without changing the code.
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The SEI community is one of the most unique in the industry.A group of close -connected community members are formed on SEI, and they like to try new applications and learn new possibilities of SEI.I suggest you understand and feel the atmosphere and meme there.
Question 3: Module and overall design
Modular and overall design are two different blockchain expansion methods.Ethereum leads a modular expansion, launched many Layer 2 solutions, and data availability chains are also increasing.On the other hand, Solana and Fantom chose the overall design.
SEI focuses on overall extensions.Please explain the reason why you make this choice?In addition, what do you think of these two methods?
Jeff’s answer:
SEI focuses on the overall design.The upper limit of the overall system is essentially higher.In essence, although the modular design provides flexibility and is very suitable for experiments and iterations, they often bring extra complexity when large -scale applications.
Looking forward to the future, especially after five years, I firmly believe that the strongest infrastructure will still be overall.This does not reduce the value of modular methods, especially in terms of innovation and specific use cases.But for the operation of original performance and simplified operation, the overall design will lead the trend.
This is not a new dynamics.For decades, the overall design has been the gold standard of Web2 performance and user experience.The early stages that the modularization is at the beginning of the application is definitely helpful, but in the end, to serve billions of users and provide the best user experience, the overall design is the most reasonable.
Question 4:
What are the exciting development of the SEI and SEI ecosystems?Can you share the upcoming DAPP?
Jeff’s answer:
Looking forward to the future, we are preparing for the SEI V2 test network and plan to launch around the next month.The main network transition is planned to be carried out in the first half of 2024. It will go through strict governance and audit process to ensure the greatest security and efficiency.
I encourage everyone to explore the SEI ecosystem, which is now in an active stage.It is particularly recommended for the current active center, such as Astroport, Silo Stake, Pallet, Webump, Colony, and Seiyans, they are leading the trend.
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Questions 5:
What is the ultimate goal and vision of SEI?
Jeff’s answer:
The code of SEI V2 has been completed and can be run on Devnet. The excellent team can try to experience it!
Performance testing shows the impressive result. During the 300 millisecond determination time, the TPS exceeded 5,000, and the theoretical TPS was about 12,500.Considering batch orders, this means that we can handle about 28,000 operations per second.
SEI aims to combine the best features of Ethereum with the best aspects of Solana.
The incredible tools and developers around Ethereum are combined with the performance and speed of Solana.This will provide the best environment for applications and serve the next billion users.
