Sei Labs Launches Open Source Project to Boost Ethereum's Speed to 5,000 Transactions Per Second

Sei Labs launched The Parallel Stack, an open source project to improve Ethereum's transactions per second (TPS) through parallel processing. It currently achieves 5,000 TPS.

Sei Labs previously raised $30M at an $800M valuation to build its own high-speed layer-1 blockchain focused on crypto trading.

The Parallel Stack lets developers parallel process transactions on Ethereum Virtual Machine (EVM)-based layer-2 chains to improve efficiency and lower fees.

Sei Labs sees The Parallel Stack as complementing (not competing with) its own layer-1 blockchain and a way to reach Ethereum developers.

The founders believe in open source access for transparency after past experiences with centralized decisions at previous companies.