tl;dr
Sei Labs, the development team behind the Sei blockchain, has proposed SIP-3, a major network change to eliminate Cosmos transaction and CosmWasm contract support, shifting fully to an Ethereum Virtual Machine (EVM)-compatible framework. This move aims to simplify the blockchain, improve throughput,...
Sei Labs, the development team behind the Sei blockchain, has proposed SIP-3, a significant network upgrade that transitions Sei to an Ethereum Virtual Machine (EVM)-only framework. This change eliminates support for Cosmos transactions and CosmWasm contracts, aiming to simplify the blockchain architecture and enhance the developer experience by consolidating smart contract development under a single standard.
Co-founder Jay Jog highlighted that most current network activity already revolves around EVM usage, making this shift a strategic alignment with the ecosystem’s direction. The move is part of a broader vision for Sei Giga, a scalable, high-performance blockchain designed to improve throughput and reduce architectural complexity.
The market responded positively, with the SEI token appreciating by 7% following the announcement. However, this transition requires existing wallets, decentralized applications (dApps), and services to adapt to EVM compatibility, as applications built on CosmWasm will need redeployment. Cosmos-native users may also have to migrate their assets, although core functions like staking and governance will remain accessible through precompiles.
Sei Labs emphasizes that this shift will streamline operations, lower overhead, and better integrate Sei into the Ethereum ecosystem, attracting developers who prioritize performance and simplicity. Despite the changes, Sei addresses will still be used internally, ensuring continuity in critical network operations.