On days when Bitcoin’s price is rising, we see more news about altcoins, and this situation can lead to serious consequences. For instance, IOTA experienced a significant increase with today’s news. A space mission for DOGE was approved. SEI announced different good news a few minutes ago and saw an increase of over 15% today.
Sei Labs will introduce EVM support with the Sei V2 update, which will allow the easy deployment of Ethereum-based smart contracts on the SEI network. This step is extremely critical in reaching more developers and expanding popular applications from the Ethereum network to the SEI network. It is difficult to create major brands for DeFi and Metaverse within your own ecosystem. With EVM support, it is easier to expand these popular applications to your own network.
Sei Labs has developed a special interface to facilitate the interaction between the existing smart contract component and the EVM component. This component is based on CosmWasm technology.
Sei Labs co-founder Jay Jog stated: “Sei V2 is an additional modification. All existing components, like CosmWasm, will continue to exist. Since this is a proposed chain modification, different virtual machines will also be able to interact with each other. Sei V2 will provide the first network where EVM and Cosmwasm contracts can call each other.”
The SEI network has been serving in Beta since August and has supported Cosmos contracts coded in Rust until now.
