According to Odaily, the Sei Foundation announced on Monday that it has initiated a governance proposal to upgrade the Sei blockchain to its second version. The proposed upgrade, to be implemented by Sei Labs, will introduce a high-performance, parallelized Ethereum Virtual Machine (EVM), aimed at enhancing the network's capabilities. If the governance proposal is approved, the network upgrade will take place a week later. This move signifies the Foundation's commitment to continuous improvement and innovation in the blockchain technology space. The introduction of a high-performance, parallelized EVM is expected to significantly boost the network's capabilities, potentially leading to increased efficiency and scalability. The approval of the governance proposal is the next crucial step in this process. If approved, the network upgrade will be carried out promptly, within a week of the approval. This swift action demonstrates the Foundation's readiness to implement changes and improvements as soon as they are sanctioned.