Sei launches The Parallel Stack to increase Ethereum L2’s TPS

Sei Labs is a startup founded by former Robinhood engineers and former Coatue venture capitalists. On Wednesday, Sei launched The Parallel Stack, a public welfare project that means any cryptocurrency developer can use it for free. Its goal is to improve the performance of the second layer blockchain based on Ethereum Virtual Machine (EVM) by using validated parallel processing computer science concepts to increase the transaction per second (TPS) capacity.