A collaborative entity, Sei Labs, founded by an ex-Robinhood engineer and a venture capitalist, recently introduced The Parallel Stack—a groundbreaking initiative to augment the speed and affordability of Ethereum for app developers. This solution leverages parallel processing principles, which could potentially revolutionize the handling of transactions on Ethereum’s network.
Boosting Ethereum’s Transaction Throughput
Sei Labs’ The Parallel Stack aims to tackle Ethereum’s core issue of limited transaction throughput, which currently peaks at a mere 50 transactions per second (TPS). Such a bottleneck not only stifles the ecosystem’s growth but also drives up transaction fees to levels prohibitive for the average user. By implementing parallel computation within the Ethereum Virtual Machine (EVM), Sei Labs aspires to drastically enhance the network’s TPS and thus make it more accessible to developers worldwide.
Striving for Unprecedented Scalability
The drive to uplift the TPS is a response to the evolving competitive landscape where blockchain networks like Solana achieve 2,500 TPS. The Parallel Stack begins with a capability of 5,000 TPS, aiming to double this number by year’s end. This focuses on parallel processing sets Sei Labs apart from other initiatives, such as Optimism’s OP Stack, which have different approaches to Ethereum scalability.
Even as Sei Labs develops its proprietary Layer-1 Blockchain, it acknowledges the critical role Ethereum plays in the developer community. Therefore, scaling solutions are essential to support the wide array of applications built on top of Ethereum. The Parallel Stack represents Sei Labs’ commitment to democratizing high-performance blockchain access.
The open-source release of Sei Labs’ work reflects its dedication to the ideals of decentralization and transparency, aiming to contribute to the community and foster collective growth in the blockchain sector.