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On days when Bitcoin‘s price is on the rise, we see more news about altcoins, which can have serious consequences. For instance, IOTA experienced a massive surge with today’s news. A space mission for DOGE was approved. Just a few minutes ago, SEI announced different good news and saw an increase of over 15% today.
Why Is SEI Coin Rising?
Sei Labs will introduce EVM support with the Sei V2 upgrade. This will allow Ethereum-based smart contracts to be easily deployed on the SEI network. This step is extremely critical in terms of reaching more developers and expanding popular applications from the Ethereum network to the SEI network. Building major brands for DeFi and Metaverse in your own ecosystem is difficult. What’s easier is expanding these popular applications to your own network with EVM support.
Sei Labs has developed a special interface to facilitate the interaction of the existing smart contract component (based on CosmWasm technology) with the EVM component.
Sei Labs co-founder Jay Jog stated the following;
“Sei V2 is an additional modification. All existing components, such as CosmWasm, will continue to exist. Since this is a proposed chain change, different virtual machines will also be able to interact with each other. Sei V2 will allow for the first network where EVM and Cosmwasm contracts can call each other.”
The SEI network, which has been operating in Beta since August, has so far supported Cosmos contracts coded in the Rust language.
- SEI soars with new EVM support.
- Sei Labs enhances network interactions.
- Sei V2 bridges CosmWasm and EVM.
