Distributed research for distributed networks – OurNetwork is crypto's go-to platform for onchain analytics.📝 From the Editorial Team:
Welcome to OurNetwork's ninth Zoomed-in issue, a series which focuses on a single application or ecosystem within crypto.
This time, we're zooming in on Sei, an EVM-compatible Layer 1 blockchain which has quietly notched some major achievements this year. These include — $250M in total value locked, 400K daily active addresses, and 150 applications live on mainnet.
In July, Sei launched its V2, an upgrade which welded the chain's highly performant parallelized architecture with the EVM. This spurred explosive growth as EVM compatible apps, like Uniswap, and tooling, like MetaMask, met Sei's performance.
Now the team is turning towards Giga, an upgrade which stands to offer a 50x improvement on throughput over any EVM-compatible mainnet today.
Specifically, with Giga, Sei is leaning into "gas per second," an increasingly-popular metric which aims to capture a blockchain's computational capacity, as opposed to its transactional one — the aim with Giga is to reach 5 gigagas per second, a level which would allow the blockchain to host apps which the computation requirements of an Instagram or Tik Tok.
In short, Giga is a big goal, especially after Sei's dominant year. With this zoomed-in, we're looking to catch readers up with what's happened, and is happening, on Sei today, with an eye towards where the chain is going tomorrow.
Let's zoom in.
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