TL;DR
- Sei, which currently supports both EVM and CosmWasm smart contracts, is considering a shift to an EVM-only system to eliminate the challenges of managing two incompatible frameworks.
- On-chain data shows that over 85% of transaction volume on the Sei network originates from EVM addresses, reflecting a strong market preference for the Ethereum Virtual Machine.
- The proposal aims to streamline operations and reduce overhead by unifying the ecosystem, though it will require developers to migrate or adapt existing Cosmos-based applications.
Sei, recognized for its groundbreaking strategy of accommodating both Ethereum Virtual Machine (EVM) and Cosmos’ CosmWasm smart contracts, is contemplating a significant change in its network structure. Although this dual support initially drew a diverse array of developers and users, it has also led to substantial complexity.
Users are required to maintain separate wallets for EVM and Cosmos transactions, and developers face the challenge of syncing data across two incompatible systems. This dual setup has grown increasingly burdensome, prompting calls for a simplified, unified approach that reduces developer pain and infrastructure headaches.
https://twitter.com/SeiNetwork/status/1920194256700125659
Embracing EVM Popularity
Recent on-chain analytics indicate that over 85% of the transaction volume on the Sei network now originates from EVM addresses. This overwhelming preference highlights that the market is already favoring the efficiency and familiarity of the EVM environment over Cosmos-native solutions.
In response, a new governance proposal has emerged suggesting that Sei transition to an EVM-only system. By focusing exclusively on EVM, the proposal aims to streamline operations, eliminate redundant complexities, and create a more cohesive development environment. This shift is expected to reduce operational overhead and allow for easier integration with a broader ecosystem of Ethereum-based tools and applications.
Future Prospects and Community Impact
If approved, the transition to a single EVM-based system would mark a significant evolution of the Sei blockchain. Key functionalities like staking and governance are planned to remain intact through the use of precompiles, ensuring core operations continue without disruption.
However, this move will require developers and dApp creators to migrate or adapt existing Cosmos-based applications into an EVM-compatible format. In the long run, this bold restructuring is anticipated to enhance network performance, foster innovation, and attract even more users to the platform.
The proposal represents Sei’s commitment to evolve in line with market trends and user demand, positioning the network for a more efficient, streamlined future in an increasingly competitive blockchain landscape. The proposal’s success depends on community support and seamless execution. As developers gear up for potential migrations and network upgrades, Sei stands at a pivotal crossroads, ready to redefine its ecosystem.
