The Sei Network community has started voting on upgrading the blockchain to the second version, which implements the "parallelized" 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.
You can track the vote's progress here: https://t.co/9SpqzhBGU6 pic.twitter.com/bYcnS7RAFB
Voting will end on May 25, and the entire first stage of the update implementation — making a management decision — will take seven days. At the time of writing, the proposal is gaining 100% support.
The next phases will be the launch of the alpha version of Sei v2, and then the transition to a full beta mode in the foreseeable future.
Against the background of the start of the upgrade process, the native SEI token has risen in price by more than 9.5% over the past 24 hours and is trading at about $0.58.
Data: CoinGecko.The developers announced the second version of the protocol in November 2023. It was assumed that after the upgrade, it would become the "first parallelized blockchain" with EVM support.
The solution will allow transferring Ethereum-based smart contracts to Sei, which will significantly expand the network's capabilities. Initially supporting decentralized applications based on Cosmos, Sei expects to attract developers from the ecosystem of the second largest cryptocurrency.
With the launch of Sei v2, the project will compete with other "parallelized" EVM solutions like Monad and Neon.
https://forklog.com/cryptorium/chto-takoe-parallelizatsiya-i-kak-ona-pomogaet-masshtabirovat-blokchejnyRecall that in April 2023, Sei raised $30 million at an estimate of $800 million. In August, the protocol conducted the SEI airdrop, which disappointed the community with low awards.