Sei V2 incorporates Pyth Price Feeds and Entropy, providing enhanced tools for developers to utilize on its parallelized Ethereum Virtual Machine (EVM).
Pyth Network has implemented Pyth Price Feeds and Entropy on Sei V2 as a technological advancement for blockchain.
On Sei V2, a parallelized Ethereum Virtual Machine (EVM), this new feature offers developers over 500 real-time price inputs and a dependable on-chain random number generator.
The purpose of these characteristics is to augment the adaptability and scalability of decentralized finance (DeFi) applications.
Sei V2 Enhances Parallelized EVM Blockchain
Sei V2’s architecture is designed to improve the developer experience significantly.
This feature enables the uninterrupted operation of pre-existing Ethereum (ETH) applications, facilitating a smooth migration to a more resilient infrastructure.
Additionally, the platform asserts that it can provide a one hundredfold enhancement in efficacy compared to conventional EVMs.
This enhancement is critical to support the increased requirements of contemporary blockchain applications, such as those in DeFi and other high-frequency trading environments.
In addition, the continued support for CosmWasm by Sei V2 increases its adaptability and desirability.
Interoperability is of the utmost importance for developers seeking a platform capable of performing intricate operations and providing enhanced functionalities while maintaining speed and efficiency.
SEI Token Climbs 7% with New Updates
Sei V2’s integration of Pyth Price Feeds grants developers immediate, low-latency access to price updates.
Applications that depend on precise and timely data, including trading platforms and financial analytics tools, must have this capability.
By utilizing a pull oracle architecture, the Pyth Network enables applications to request the data they require selectively, thus maximizing the utilization of resources and decreasing expenditures.
In addition to price feeds, Pyth Network’s Entropy feature provides a secure and reliable source of on-chain randomness.
Developing applications that necessitate unpredictability, such as prediction markets, lotteries, and gambling, requires this characteristic.
Entropy elevates user engagement and trust in these applications by guaranteeing fair and unpredictable results.
Following the release of these new features, SEI, Sei’s native token, experienced a significant price increase, rising by over 8% to a trading value of $0.5752.
Additionally, the market capitalization increased by approximately 5.52% to $1,683,533,322.
The increase in trading volume by 56.90% reflects a bullish sentiment in the market in the hours ahead.
