Yesterday, Sei, a fast Layer 1 blockchain, shared its plans for V2, which made its token price shoot up. The V2 upgrade will introduce a highly efficient parallel EVM and starts with a governance proposal. If accepted, phase 2 will bring V2 Alpha, enabling EVM-based smart contracts and network integrations. The team aims to complete phase 2 quickly while ensuring chain stability.

Details about phase 3 are scarce, but the team promises to reveal more once V2 is stable, and essential infrastructure like RPCs, bridges, and multisigs are ready. The announcement caused SEI token to surge by 25%, reaching $0.58 before slightly dropping to $0.55. The network's market cap stands at $1.6 billion.

In early February, Sei upgraded its devnet, allowing developers to deploy code compatible with Ethereum's EVM. This move opens Sei to Ethereum's wide range of dApps, providing developers with more tools and a broader programming language. The upgrade wasn't for end users but aimed at enabling developers to experiment with deploying their applications.

Sei's V2 roadmap is an exciting development, showing its commitment to improving its capabilities and expanding its ecosystem. With the token's surge, there's anticipation for the future of Sei and its role in the blockchain space.