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Cryptocurrencies

Sei

Sei (SEI)

Sei is a Layer 1 blockchain launched in 2022, combining the strengths of Ethereum's development standard with Solana's performance. It is the first parallelized EVM, offering a new scaling approach for the Ethereum ecosystem. Sei's mainnet went live in 2022, and it boasts a growing ecosystem with contributions from teams affiliated with Ethereum, Solana, Polygon, and Arbitrum. The project is supported by notable investors such as Multicoin, Jump, and Coinbase Ventures. Sei was co-founded by Jayendra Jog and Jeff Feng.

Sei V2 EVM

The Sei V2 update introduces several innovative features, including a high-performance parallelized EVM. This enhancement merges the best aspects of Solana and Ethereum, improving user experience and providing a new design space for developers.

sei background
Ticker SEI
Category Smart Contract Platform
Website https://www.sei.io
Twitter @SeiNetwork
Telegram seinetwork
Reddit https://www.reddit.com/r/Sei_Network/

Key features of Sei V2 EVM

  • Interoperable EVM: Allows Ethereum ecosystem developers to deploy their applications on Sei without modifications, benefiting from significant performance improvements. Sei also supports Cosmwasm as a secondary execution environment.
  • Optimistic Parallelization: Enables developers to implement parallel processing for their applications effortlessly, similar to Solana's scalability approach.
  • SeiDB: Enhances data storage, reads, and writes, facilitating rapid state synchronization and reducing hardware requirements.
  • Twin Turbo Consensus: Achieves fast finality times, offering near-instant transactions.
  • The Parallel Stack: Provides an open-source framework designed to enhance Layer 2s and rollups, improving the Ethereum ecosystem's performance.

Main features

Sei prioritizes security, scalability, adaptability, speed, and eco-friendliness. It collaborates with global institutions for security, supports decentralized applications, and evolves with industry trends through community governance. The platform ensures fast and secure transactions and leverages proof of stake consensus to minimize environmental impact, aiming for carbon neutrality.

Technology

Twin-Turbo Consensus

Sei employs the Twin-Turbo Consensus mechanism to enhance transaction efficiency. This method reduces latency, expedites validator wait times, and boosts overall operational performance.

Optimistic block processing

Optimistic Block Processing is a unique feature that processes transactions concurrently upon receiving the block proposal, resulting in faster data processing and improved block processing efficiency.

Parallelization

Parallelization is a core strategy for optimizing block processing in Sei. Transactions are processed in parallel during the DeliverTx phase, increasing throughput. Market-Based Parallelization allows simultaneous processing of independent orders, enhancing transaction efficiency.

Oracles

Sei employs both Pyth and native oracle modules for accurate asset exchange rate pricing, ensuring reliable validator participation for network validation.

Native order matching engine

The Native Order Matching Engine supports decentralized exchanges on the Sei blockchain. It facilitates the creation and management of Central Limit Order Books (CLOBs), enhancing the trading experience for users by managing order books at the chain level.

$10M Creator Fund

On April 4, 2024, the Sei Foundation launched the Sei Creator Fund, a $10 million grants initiative to support new and existing NFT and Social projects on Sei. This fund aims to scale Sei's NFT and Social ecosystems, empowering creators and builders across various domains.