ETHCC Voices: Jayendra Jog, Co-founder of Sei Labs
In this conversation, Jay talks about the milestones and emerging trends in the crypto space. He highlights the approval of Bitcoin and Ethereum ETFs as pivotal developments in enhancing crypto legitimacy and investor interest. Jay is excited about UX abstraction and how it is able to improve the user experience by simplify blockchain interactions, leading to wider adoption.
Welcome to EthCC Voices, the Medium Series for the EthCC community. Taking place in Brussels from 8–11 July 2024, the conference organised by Ethereum France is regarded as Europe’s leading Ethereum conference for the community by the community!
Jayendra (Jay) Jog, Co-Founder of Sei Labs, a Layer 1 that combines the advantages of Ethereum and Solana: the dominant development standard of Ethereum (EVM) with the performance of Solana.
What do you think are the highlight moments in crypto over the past year?
The approval of Bitcoin and Ethereum ETFs was undoubtedly a historical moment for cryptocurrencies, representing a significant milestone in crypto adoption. These ETFs not only offered traditional investors a regulated and accessible path to invest in Bitcoin and Ethereum, but they also played a crucial role in legitimizing cryptocurrencies as a recognized asset class.
I find the Ethereum ETFs particularly exciting because they have the potential to generate increased interest in dApps and the overall decentralized ecosystem. This increased attention can spark further developments and innovation within the Ethereum network, helping it grow and expand its range of applications.
Exciting time for both investors and developers alike!
What are some new trends you think will emerge over the next 12 months, which ones are you excited about?
One trend I’m particularly excited about is the UX abstraction, which I believe will be the final piece before blockchain’s true breakout application. The complexity of blockchain technology, combined with the lack of user-friendliness, and challenges in transferring and managing crypto assets have hindered mass adoption. Users often struggle with understanding cryptography, distinguishing between web2 and web3, and managing complex wallet addresses.
For an average person, the overwhelming nature of blockchain, Web3, and crypto highlights the need for a more user-friendly experience, especially in multi-chain navigation and dApp usage across networks. This is where UX abstraction comes into play.
With UX abstraction, blockchain’s complexities become invisible and seamless to the user. This simplifies the user experience, enabling effortless interaction with dApps and reaping blockchain’s benefits without getting tangled in its intricacies. The improvement in user experience has the potential to drive widespread adoption and unlock blockchain’s true potential, hopefully within the next 12 months.
How has being a part of the EthCC impacted you/ your team thus far? Has anything come out of it?
I’m thrilled to attend EthCC for the first time with the Sei team! It’s an incredible opportunity to immerse myself in the Ethereum community and connect with fellow industry leaders. It is our honor to present our latest launch, Sei v2, the world’s first parallelized EVM. I can’t wait to showcase its capabilities and demonstrate how it can help scale Ethereum to new heights.
Attending EthCC is not just about showcasing our achievements; it’s also an opportunity to learn from others, gain valuable insights, and explore potential partnerships. I’m eager to connect with like-minded individuals, hear their perspectives, and collectively shape the future of Ethereum.
What impact do you think Ethereum updates this year will have on the overall ecosystem, crypto projects, and mainstream adoption?
The recent Dencun upgrade, which enabled a significant reduction in transaction costs on layer-2 blockchains, has successfully increased the number of transactions on L2 according to on-chain data. However, the core limitation of Ethereum’s throughput still persists. This is where Sei comes into play, addressing the scalability challenge.
The upcoming ETH wallet upgrade may appear small, but it has the potential to enhance the user experience for Ethereum users. This aligns with my previous point of simplifying the UX, bringing us one step closer to mainstream adoption.
Anything else to add? (feel free to share more about the projects you are working on)
I’m excited to share that Sei v2, the first parallelized EVM, is up and running! It combines the speed of Solana with the flexibility of Ethereum, transforming applications through seamless smart contract migration and Web3 innovation.
With features like Parallelization, Twin Turbo Consensus, SeiDB, and Interoperable EVM, Sei v2 unlocks a new, scalable design space for the Ethereum ecosystem.
For developers, Sei v2 allows deploying Ethereum smart contracts without any modifications, benefiting from significant improvements in finality and throughput. For users, it means engaging with faster and more seamless applications, similar to traditional web2 experiences.
Experience the parallelized future on app.sei.io, and if you’re a developer, get in touch with our team as we provide funding and support for deploying on Sei.
