A new blockchain project called SEI seeks to build a decentralized environment for social networking, e-commerce, gaming, and other applications. It is a layer-1 blockchain designed specifically for trading to give exchanges an unfair edge, SEI Coin. Recently, SEI debuted its mainnet. Users can develop and manage their decentralized applications on the SEI network thanks to SEI Mainner. Additionally, SEI has an airdrop program for its native SEI token. Whoever with ETH or BNB in their wallets can claim SEI Coin. With 20,000 orders per second and a 500ms transaction finality, SEI asserts to be the quickest blockchain in the sector. SEI also provides front-running defence, interoperability, and security.
What is SEI?
Sei is the name of a brand-new, industry-specific L1 blockchain that bills itself as the quickest in the cryptocurrency space. Through the use of its matching engine and order front-run prevention solutions, Sei, which was built using the Cosmos software development kit, promises to increase the trading capabilities of decentralized exchanges (DEXs). Decentralized apps (dApps) must get ready for an increase in on-chain activity as regulators continue to crack down on centralized exchanges, according to Sei in the press release.
Trading platforms currently face substantial scaling challenges on both L1 and L2 infrastructure. In light of this, Sei’s goal is to overcome this scalability difficulty by improving every layer of the system and providing the perfect framework for the effective trading of digital assets, according to the news release.
The blockchain is projected to become life with more live apps coming online in the second half of the year, according to Sei. Sei said, “This also includes the eagerly anticipated decentralized perpetual futures exchange from SushiSwap.”
Features of SEI:
Speed: Sei reaches block times of about 300ms with the Twin Turbo consensus. This puts Sei in a class by itself in terms of speed and effectiveness.
Open-Source: Sei promotes community involvement and cooperation by being open-source.
Market-Based Parallelization: This distinctive trait sets Sei apart from rivals such as Solana and Aptos by providing a novel method of parallelization that places a strong emphasis on market-centric methods.
Scalability: Sei uses market-based parallelization to boost throughput by 5–10 times compared to other high-performance ecosystems.
Sei allows order batching for efficient trading and offers a frontrunning prevention system.
Sei generated excitement in the sector after obtaining considerable financial support through various fundraising rounds from titans like Multicoin Capital, Coinbase Ventures, and Delphi Digital in the past. It attracted numerous projects and DApps to build on Sui.
Sei is one of the hottest L1s right now, with significant financial support from industry titans and a user base that is expanding at an exponential rate. Developers are developing cutting-edge solutions on top of Sei, and the Sei community is actively trading and constructing on the platform.
Sei Blockchain is positioning itself as the chain that will completely transform the way people trade cryptocurrency thanks to its cutting-edge features, bold ambition, and vibrant ecosystem of DApps. Sui can take the lead in the market if it can address the problems DEXs are having and provide a scalable, effective, and optimal solution.
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