Sei (SEI) operates as an environmentally conscious layer 1 blockchain ecosystem. Its primary purpose is to support the development, management, and launching of advanced trading platforms. As such, it enables developers to integrate the latest DEX and CEX features. Here’s everything you need to know about Sei.
Sei is the first parallelized EMV-compatible layer 1 network to achieve success. This designation means the network can conduct multiple transactions at the same time, expanding performance to new heights compared to Ethereum. Today, it’s a popular EMV-compatible alternative that boasts $1.2B in completed transactions alongside a growing number of strategic partnerships with global institutions.
Source – Sei.io Homepage
What Problems Does Sei Attempt to Fix?
Sei can help eliminate or reduce many problems. For one, the project’s EMV-compatible nature makes it ideal for Ethereum developers seeking to port their projects or expand them to faster blockchains. It doesn’t require reprogramming and offers a 100x improvement in Ethereum performance.
Lack of Scalability
Since its first days of development, the team has focused on scalability and removing performance constraints on developers. To accomplish this task, the project introduces a high-performance consensus mechanism capable of 20,000 tps and a finality of 380 ms. This hyper-fast responsiveness makes the platform ideal for high-frequency trading on today’s exchanges.
Lack of Developer Flexibility
Complaints from developers revolving around a lack of flexibility are common on the Ethereum and earlier blockchains. Sei combats these concerns in multiple ways. For one, it introduces the Cosmos SDK (software development kit). This toolset streamlines core processes of creating blockchain dapps and empowers developers to create more helpful and usable options incorporating the latest trends and innovations.
Lack of Liquidity
Another primary concern for blockchain projects recently is a lack of access to liquidity. New blockchains don’t have the deep user base to generate the same liquidity as projects such as Ethereum. Sei counters this shortcoming by enabling full interaction within two of the largest blockchain ecosystems available: Ethereum and Cosmos. By supporting these networks, the platform provides users access to deep liquidity.
Environmental Concerns
Early blockchains like Bitcoin relied on power-hungry Proof-of-Work consensus algorithms. These protocols could require more electricity to run than entire countries. Thankfully, Sei introduces a powerful and efficient consensus that requires a fraction of the energy required by PoW alternatives by eliminating miners from the equation.
Benefits of Sei
Sei offers its users many benefits. The open-source project provides reliable, community-tested options that incorporate the latest scalability architecture and sustainability strategies to offer the market high-performance programmability.
First Parallelized EVM
As the first paralyzed Evm, the network offers its developers a new level of convenience. This designation enables it to process multiple EVM actions simultaneously using Optimistic Parallelization. This protocol combines the speed of optimistic roll-up technology with the proven capabilities of the EVM, reducing transaction times considerably.
Trading-Focused Features
As an application-specific network, the platform provides various features geared towards CEX and DEX development. The project incorporates a robust set of developer tools that work seamlessly within the advanced blockchain economy, providing a simple and effective way to create and support high-frequency trading and real-time digital exchanges.
Central Limit Order Book (CLOB)
The central limit order book is a unique aspect of the ecosystem designed specifically for developers. This feature allows DEX users to enjoy faster and more accurate pricing versus utilizing AMM protocols. It also introduces price-time-priority matching for traders and applications, enhancing pricing responsiveness for users.
Sei (SEI) Offers True Interoperability
Developers continue to benefit from Sei’s interoperability. The network supports full Evm compatibility alongside Cosmos projects. As both economies are on the rise and thriving, this structure opens the door for dapps that offer more usability, liquidity, and security.
How Does Sei Work?
Sei was built from the ground up using Ethereum protocols and the Cosmos SDK. At its core, a Tendermint-based consensus algorithm supports high-frequency trading with super-fast finality. Additionally, the network integrates WASM technology, improving its programmability and security.
SeiDB
The SeiDB protocol enables the network to store data at a much higher rate than competitors. This feature allows the network to operate at higher scalability, making it ideal when large portions of data must be read or written to the blockchain.
Token – SEI
SEI is the main utility token. These advanced digital assets serve multiple roles within the economy. For one, it can be used to send and receive value globally in a permissionless manner. Additionally, it’s the only way to pay gas and transaction fees. Lastly, you can stake this token to access passive income rewards.
Consensus
Sei utilizes a PoS (Proof-of-Stake) consensus algorithm which is faster and more democratic than PoW networks. These systems allow users to stake their tokens in a network wallet rather than mine for tokens to secure rewards. This approach reduces overhead and opens the door for more participation from users.
Governance
Community governance is a core feature of today’s blockchain networks and helps to keep the community growing harmoniously. Any SEI token holder can stake their tokens to participate in the governance system. This option allows you to stake your token and gain access to proposals and voting. Put forth possible upgrades to the network and if voted in, the system will automatically begin the process.
How to Buy Sei (SEI)
Currently, Sei (SEI) is available to purchase on the following exchanges.
Coinbase – A publicly traded exchange listed on the NASDAQ. Coinbase accepts residents from 100+ countries, including Australia, Canada, France, Germany, Netherlands, Singapore, the United Kingdom, and the United States (excluding Hawaii).
Kraken – Founded in 2011, Kraken is one of the most trusted names in the industry and offers trading access to over 190 countries, including Australia, Canada, Europe, and the United States (excluding Maine, New York, and Washington state).
Binance – Accepts Australia, Singapore, the UK, and most of the world. Canadian & USA residents are prohibited. Use Discount Code: EE59L0QP for 10% cashback on all trading fees.
Sei (SEI) Drives DEX Innovations
Sei is a great tool for developers who want to create high-performance exchanges or dapps. The network’s commitment to security and performance is evident from its features and track record. Anyone seeking to create next-gen blockchain dapps will find that Sei offers everything needed and more. For these reasons, Sei is a smart project to track moving forward.
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