Sei Network: High-performance Layer 1 and parallel EVM integration

After the Sei Network launched its mainnet in August 2023, there was a period of silence, but recently its token price has continued to rise and reached a historical high. Currently, Sei's liquid staking scale has exceeded 3.5 million USD, and the total locked value of the network has surpassed 11 million USD.

Sei is a Layer 1 blockchain focused on trading, offering a built-in central limit order book module (CLOB). This allows developers to quickly launch and customize various trading applications, such as spot, derivatives, and options. Sei's parallel design provides a fast, high-throughput network environment for its ecosystem applications.

Performance Optimization Design of Sei

( 1. Local build hash

Sei allows validators to send blocks to the network that only contain transaction hashes. Other validators, upon receiving them, will first construct blocks based on the records in their local memory pool. If there is no corresponding transaction information in the memory pool, the validators will wait for subsequent blocks containing detailed transaction content to arrive for verification. This method reduces network transmission time.

) 2. Parallel Transaction Processing

Sei Network implements the parallel processing of pre-voting and pre-commit phases of blocks by validators. This parallel processing mechanism reduces latency and increases throughput. In the code implementation, Sei processes non-related transactions in parallel, while related transactions are processed sequentially to ensure the consistency and correctness of transactions.

![High-Performance Layer1 and Parallel EVM Dual Narrative: Analyzing Sei Network and Its Ecological Development]###https://img-cdn.gateio.im/webp-social/moments-174474fe5ab45c78935b4ebe3f475387.webp###

Sei V2 Upgrade: Introduction of Parallel EVM

The upcoming V2 version of Sei will implement parallel EVM, supporting the operation and interaction of Cosmwasm and EVM smart contracts. The main upgrade points include:

1. Optimistic concurrency: Allows for concurrent transaction processing, improving throughput and efficiency.
2. EVM Compatibility: Supports direct deployment of existing EVM smart contracts.
3. Geth compatible: Integrate Geth to handle EVM smart contract transactions.
4. SeiDB: Improved storage layer to enhance read and write performance and scalability.
5. Performance Improvement: Expected block time of 390 milliseconds and a throughput of 28,300 batch transactions per second.

Sei Contract Development Security Recommendations

1. Build upgradable smart contracts and develop risk response plans.
2. Pay attention to the characteristics of addr type deserialization and perform necessary validation.
3. Use the Uint256 and Uint512 types of CosmWasm to avoid integer overflow risks.
4. Prevent infinite loops in the ACK handler, especially when passing data packets between contracts.

Sei Ecosystem Overview

( 1. Wallet

The Sei network currently has dedicated wallets such as Compass Wallet and Fin Wallet, as well as compatible wallets like OKX Wallet, Keplr, and Leap Wallet. Users should choose wallet projects that have been audited and run stably, and be sure to protect their mnemonic phrases and private keys.

![High-Performance Layer 1 and Parallel EVM Dual Narrative: Analyzing Sei Network and Its Ecological Development])https://img-cdn.gateio.im/webp-social/moments-f46a7dbcdc72b4a4b3c0030e2f5694f4.webp###

( 2. Kryptonite

Kryptonite is the largest liquid staking protocol in the Sei ecosystem, providing services such as Sei token staking and LP token staking. The platform plans to launch the kUSD stablecoin to further increase the liquidity of the Sei ecosystem.

![High-performance Layer 1 and Parallel EVM Dual Narrative: Analyzing Sei Network and Its Ecological Development])https://img-cdn.gateio.im/webp-social/moments-c2f45e32d5b434dec1a75ec6f638f349.webp###

( 3. YakaFinance

Yaka Finance is building a multifunctional DEX that offers services such as trading, liquidity mining, and Launchpad. It is currently in the testnet phase and has attracted over 15,000 users to participate in the testing.

![High-Performance Layer 1 and Parallel EVM Dual Narrative: Analyzing Sei Network and Its Ecological Development])https://img-cdn.gateio.im/webp-social/moments-79f2cd7120136f474a14dee5d879ab89.webp###

( 4. PalletExchange

PalletExchange is an NFT trading platform in the Sei ecosystem, with a daily trading volume of up to $1 million. The platform charges a 2% trading fee. Popular NFT series include WeBump, The Colony, Seiyans, and Seinsei.

![High-Performance Layer 1 and Parallel EVM Dual Narrative: Analyzing Sei Network and Its Ecological Development])https://img-cdn.gateio.im/webp-social/moments-f29abafdf5312108b47132d88d729241.webp###

Outlook

Sei, as a high-performance Layer 1 focused on trading, has optimized block processing efficiency through technological innovation. With the rapid development of the ecosystem, various decentralized applications will further highlight Sei's performance advantages. The upcoming V2 upgrade, especially the implementation of parallel EVM, is expected to address current performance bottlenecks and attract more developers and users to join the Sei ecosystem.