{"id":13683,"date":"2024-05-21T15:19:05","date_gmt":"2024-05-21T12:19:05","guid":{"rendered":"https:\/\/forklog.com\/en\/sei-network-proposes-blockchain-upgrade-to-version-v2-with-evm-support\/"},"modified":"2024-05-21T15:19:05","modified_gmt":"2024-05-21T12:19:05","slug":"sei-network-proposes-blockchain-upgrade-to-version-v2-with-evm-support","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sei-network-proposes-blockchain-upgrade-to-version-v2-with-evm-support\/","title":{"rendered":"Sei Network Proposes Blockchain Upgrade to Version v2 with EVM Support"},"content":{"rendered":"<p>The Sei Network community has initiated a vote on upgrading the blockchain to its second version, featuring a &#8220;parallelized&#8221; Ethereum Virtual Machine (EVM).<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Sei Pacific-1 validators have been notified that v2, an update to the Sei blockchain, is ready to be adopted on Mainnet, via an onchain proposal, beginning a 7 day governance approval process.<\/p>\n<p>You can track the vote&#8217;s progress here: <a href=\"https:\/\/t.co\/9SpqzhBGU6\">https:\/\/t.co\/9SpqzhBGU6<\/a> <a href=\"https:\/\/t.co\/bYcnS7RAFB\">pic.twitter.com\/bYcnS7RAFB<\/a><\/p>\n<p>\u2014 Sei ?? (@SeiNetwork) <a href=\"https:\/\/twitter.com\/SeiNetwork\/status\/1792617181928370380?ref_src=twsrc%5Etfw\">May 20, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The voting will conclude on May 25, with the entire first phase of the upgrade\u2014governance decision-making\u2014taking seven days. At the time of writing, the proposal has garnered 100% support.<\/p>\n<p>The subsequent phases will involve launching the alpha version of Sei v2, followed by a transition to a full beta mode in the foreseeable future.<\/p>\n<p>Amidst the upgrade process, the native token SEI has surged over 9.5% in the past 24 hours, trading at approximately $0.58.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Sei-Price-SEI-Live-Price-Chart-Market-Cap-News-Today-CoinGecko-Google-Chrome.webp\" alt=\"Sei-Price-SEI-Live-Price-Chart-Market-Cap-News-Today-CoinGecko-Google-Chrome\" class=\"wp-image-233305\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/en\/coins\/sei\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>The developers announced the second version of the protocol in November 2023. It was anticipated that post-upgrade, it would become the &#8220;first parallelized blockchain&#8221; with EVM support.<\/p>\n<p>This development will enable the transfer of Ethereum-based smart contracts to Sei, significantly expanding the network&#8217;s capabilities. Initially supporting Cosmos-based decentralized applications, Sei aims to attract developers from the ecosystem of the second-largest cryptocurrency by market capitalization.<\/p>\n<p>With the launch of Sei v2, the project will enter competition with other &#8220;parallelized&#8221; EVM solutions like Monad and Neon.<\/p>\n<p>Back in April 2023, the Sei team raised $30 million at a valuation of $800 million. In August, the protocol conducted a SEI airdrop, which disappointed the community with low rewards.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Sei Network community has initiated a vote on upgrading the blockchain to its second version, featuring a &#8220;parallelized&#8221; Ethereum Virtual Machine (EVM). Sei Pacific-1 validators have been notified that v2, an update to the Sei blockchain, is ready to be adopted on Mainnet, via an onchain proposal, beginning a 7 day governance approval process. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[433,1559,1134],"class_list":["post-13683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-evm","tag-sei-network","tag-technical-updates"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=13683"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13683\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/13682"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=13683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=13683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=13683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}