Sei Labs Releases Sei Giga Whitepaper Showcasing the Design of the Industry's First Multi-Proposer Ethereum Virtual Machine

Sei Labs, the main contributor to the layer 1 blockchain Sei, has announced the release of the Sei Giga whitepaper that outlines the design of the industry's first multi-proposer Ethereum Virtual Machine

Layer 1 blockchain network Sei (SEI) is now one step closer to becoming the first multi-proposer Ethereum Virtual Machine (EVM) L1.

The main contributor to the blockchain, Sei Labs, has announced the release of the Sei Giga whitepaper that describes the design of the industry’s first multi-proposer EVM layer 1 blockchain.

It is the latest major development for Sei as the layer 1 continues its rapid rise.

The layer 1 has already secured more than $30 million from some of the leading venture capital firms in the crypto space. These firms include Jump Crypto, Multicoin Capital, and Coinbase Ventures.

As previously reported by crypto.news, the upgrade proposes a design of parallel blocks, powered by the Autobahn consensus protocol. It means Giga brings a solution to network bottlenecks related to data availability, execution, and storage, among others.

The startup says Giga is capable of 5 gigagas throughput, 200k transactions per second, and sub-400 millisecond finality. It introduces more than 50x throughput, 70x faster block production, and an execution efficiency of 40x.

“Sei Giga is not just another EVM chain – it’s a reimagining of what’s possible for blockchain performance,” said Jay Jog, co-founder of Sei Labs.

“By moving towards multi proposer consensus and rebuilding the execution environment from the ground up, we’re unlocking the scale and speed required for real-world, high-throughput applications – all while maintaining the trust guarantees and ease of use of Ethereum.”

The new report comes as another recent analysis from analytics firm Nansen highlighted how quickly the Chain is adding gaming use cases.

As reported by nft evening in December, Nansen highlighted how rapidly the Chain has been seeing an influx of users, particularly for blockchain startup Nika Labs's Layer 1 blockchain.

The firm, which is best known for its email newsletter which delivers regular updates on the crypto market, highlighted how the Layer 1 has seen a rapid increase in users for its flagship game.

Its analysis, which was shared with its paid subscribers, highlighted how Nika Labs's game has seen a huge influx in users. Its game, which is described as a "blockchain-native game engine, powered by cutting-edge technology to deliver unparalleled gaming experiences within the Web3 ecosystem", now has over 323,000 users.

Its analysis, which was shared with its paid subscribers, highlighted how rapidly the Layer 1 has been seeing an influx of users, particularly for blockchain startup Nika Labs's Layer 1 blockchain.

The firm, which is best known for its email newsletter which delivers regular updates on the crypto market, highlighted how the Layer 1 has seen a rapid increase in users for its flagship game.

Its analysis, which was shared with its paid subscribers, highlighted how Nika Labs's game has seen a huge influx in play in recent times. Its game, which is described by the startup as a "blockchain-native game engine, powered by cutting-edge technology to deliver unparalleled gaming experiences within the Web3 ecosystem", now has over 323,000 users.

To put that into context, the next most popular game, EUFTonSEI, has just 111,000 users while Dragon Slither has 28,800 users.

Its analysis comes as gaming activity on layer 1 blockchains has seen a huge increase throughout 2023. Earlier this year, blockchain startup Animoca Brands announced the launch of a new $1 billion gaming fund. The investment firm, which is best known for its involvement in the metaverse, makes a wide range of investments in the crypto market.

Among the firm's notable investments include a $75 million investment in Beniversal in 2023 and its participation in Dapper Labs' $750 million Series F round in 2022.

Its new gaming fund will invest in a wide range of gaming startups, from blockchain games to esports.

The post Sei Labs announces the release of Sei Giga whitepaper appeared first on Crypto News.

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