Research Summary
The report presents an interview with Jeff, the co-founder of Sei, a Layer 1 blockchain platform. The discussion revolves around Sei’s unique features, its vision, and its place in the competitive landscape of Layer 1 and Layer 2 solutions.
Key Takeaways
Sei’s Unique Approach to User Experience
- Sei’s User Experience Focus: Jeff explains that Sei was created to address the user experience problem in crypto. The platform aims to offer applications that can compete with the user experience of Web2 competitors. Sei’s approach includes parallelizing the Ethereum Virtual Machine (EVM), a first in the industry.
Sei V2: The First Parallelized EVM Blockchain
- Sei V2’s Major Advancements: The V2 update introduces four major advancements, including backward-compatible EVM, optimistic parallelization, SeiDB, and the ability for EVM contracts to interact with existing Cosmwasm smart contracts. Jeff highlights that Sei V2 is the fastest Layer 1 in history, with an average of 390ms time to finality.
Monolithic vs. Modular Blockchain Design
- Sei’s Monolithic Design: Jeff explains that Sei has chosen a monolithic design for its platform, as it offers higher performance potential. He believes that the most performant infrastructure will continue to be monolithic, despite the value of modular approaches in innovation and specific use-cases.
Sei’s Future Developments
- Upcoming Launches: Jeff shares that the Testnet for Sei v2 is scheduled to launch in the next month, with the transition to Mainnet planned for the first half of 2024. He also mentions several applications in the Sei ecosystem that are leading the charge, including Astroport, Silo Stake, Pallet, Webump, Colony, and Seiyans.
Sei’s Endgame Vision
- Sei’s Vision: Jeff reveals that Sei’s vision is to become the go-to Layer 1 for all on-chain trading. He shares impressive performance benchmark testing results for Sei v2, with over 5,000 transactions per second (TPS) at 300 milliseconds time-to-finality, and a theoretical TPS of around 12,500.
Actionable Insights
- Explore Sei’s Unique Approach: Businesses and developers interested in blockchain technology should explore Sei’s unique approach to user experience and its parallelization of the EVM.
- Consider Sei V2’s Advancements: Developers should consider the advancements introduced in Sei V2, including its backward-compatible EVM and optimistic parallelization, when choosing a blockchain platform for their applications.
- Understand the Implications of Monolithic Design: Stakeholders should understand the implications of Sei’s monolithic design choice, as it could influence the platform’s performance and efficiency.
- Monitor Sei’s Future Developments: Investors and developers should monitor the upcoming launches in the Sei ecosystem, including the Testnet for Sei v2 and the transition to Mainnet.
- Assess Sei’s Vision: Stakeholders should assess Sei’s vision of becoming the go-to Layer 1 for all on-chain trading, considering its impressive performance benchmark testing results.
