What makes Parallelized EVM so special?

What makes Parallelized EVM so special?

Author: Nikola Madjarevic

Comparative Analysis of SEI Network and Other General-Purpose Layer 1 Blockchains


1. Introduction

  • Layer 1 blockchains are fundamental to the crypto ecosystem, serving as the underlying framework for various applications. It refers to a base network, such as Bitcoin, BNB Chain, Solana, Ethereum, SEI, etc. and its underlying infrastructure. Layer-1 blockchains can validate and finalize transactions without the need for another network. enter image description here

2. What is SEI Network?

  • SEI Network is the first blockchain designed exclusively for trading, addressing unique challenges faced by decentralized exchanges (DEXes) with a focus on reliability, scalability, and speed.
  • The network has undergone a significant upgrade to Sei v2, introducing parallelized Ethereum Virtual Machine (EVM) capabilities and optimized state storage, combining the best of Solana and Ethereum for developers around the world.
  • SEI Network aims to offer seamless interoperability and a user-centric approach with native frontrunning protection and transaction bundling. enter image description here

3. Comparative Analysis

  • Scalability: SEI Network claims a transactional throughput of 20,000 operations per second (ops) compared to Ethereum's 20 tps and Solana's 10,000 tps.
  • Consensus Mechanism: SEI uses a Proof of Stake mechanism with its Twin-Turbo Consensus, which includes Intelligent Block Propagation and Optimistic Block Processing, enhancing throughput and block processing speed.
  • Transaction Speed and Cost: SEI Network boasts a transactional finality of 380 ms, significantly faster than Ethereum (6 mins) and Bitcoin (60 mins).
  • Smart Contract Capabilities: SEI introduces parallelized EVM smart contracts, aiming for backward compatibility with Ethereum contracts and easier adoption for developers, meaning already existing code can be simply deployed to SEI EVM as it would be on any other EVM chain.
  • Use Cases and Applications: Ideal for high-frequency trading, with features like single-block order execution and frequent batch auctioning

4. Unique Selling Points of SEI Network

  • Designed specifically for trading applications with unparalleled speed and efficiency in this niche.
  • Incorporates innovative technologies for parallel processing and intelligent block propagation.

5. Conclusion

  • SEI Network presents a unique proposition in the Layer 1 blockchain space, with a specialized focus on trading applications and high performance. enter image description here

6. References

  • investorplace.com, sei.io, docs.sei.io, coingecko.com, ...

This overview provides a snapshot of how SEI Network stands in the Layer 1 blockchain ecosystem, particularly emphasizing its trading-focused capabilities and technological innovations.

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