Blockchain's Shift Towards Exclusively Using Ethereum Virtual Machine (EVM): Understanding the Rationale Behind Abandoning Cosmos Integration

Forging Ahead with EVM: Sei's Decision to Ditch Cosmos

Blockchain's Shift Towards Exclusively Using Ethereum Virtual Machine (EVM): Understanding the Rationale Behind Abandoning Cosmos Integration

Sei, a leading blockchain, has declared its intention to abandon Cosmos compatibility and solely embrace the Ethereum Virtual Machine (EVM) model. This move, outlined in Sei Improvement Proposal (SIP-3), is currently under public scrutiny and awaiting a vote [2][4].

The Motivation Behind SIP-3

The driving force behind this change is the widespread use of EVM on Sei Network. Since the launch of EVM support in Sei v2, over 80% of transactions have been executed via EVM addresses [2]. The dual-architecture approach, despite offering flexibility, has also introduced complications for users and developers, requiring the management of both EVM and native addresses [2][5].

A Changing Landscape

The reaction within the community is likely to be divided, as this architectural shift signals a major change. While focusing on EVM could streamline user experiences and diminish infrastructure costs for developers and service providers [2][4], abandoning Cosmos compatibility might disenchant users who value cross-platform compatibility between Cosmos and EVM-based applications [5].

Although specific community feedback isn't readily available, the proposal's focus on improving efficiency and aligning with the dominant EVM usage could be seen as a strategic move to bolster Sei's presence in the DeFi and smart contract space [5]. The final decision will lie in the hands of the community vote.

Bullish Signals

Sei's decision has sparked market interest. In the last three weeks, new users have soared from 35K to 85K [3], contributing to a 72% rally in the altcoin's price, going from the April lows of $0.17 to over $0.22 [1]. Although the price dipped in May, bulls have defiantly guarded the $0.18-$0.20 support. If this level holds, a potential rally to $0.25 seems probable [1].

As the community awaits the outcome of the vote, the future of Sei Network hangs in the balance. Stay tuned for updates on this intriguing development.

Sources:

[1] https://tradingview.com/chart/SEIUSDT/CjJiVVpY[2] https://github.com/sei-protocol/docs/tree/main/sip[3] https://dune.xyz/Sei/TA_new_users[4] https://github.com/sei-protocol/docs/blob/main/sip/SIP-3_sip-ethereum-escalation.md[5] https://decrypt.co/85695/cosmos-based-community-wonders-how-long- Cosmos-based-community-wonders- how-long- will-participate-in-Seis-ethereum-focused-future

1. The shift towards Ethereum Virtual Machine (EVM) on Sei Network, as outlined in SIP-3, could potentially bolster Sei's presence in the DeFi and smart contract space, given the widespread use of EVM and the significant growth in crypto transactions executed via EVM addresses.
2. With over 80% of transactions on Sei Network being executed via EVM addresses, the decision to abandon Cosmos compatibility and focus on EVM could streamline user experiences and reduce infrastructure costs for developers and service providers.
3. Staking on Sei's EVM-focused blockchain could be an attractive opportunity for crypto enthusiasts, as the decision to embrace EVM has sparked market interest, leading to a surge in new users and a 72% rally in the altcoin's price in the last three weeks.

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