Overview
Sei is a general-purpose, open-source Layer 1 blockchain specialized for the exchange of digital assets. Leveraging a novel consensus and technical breakthroughs, Sei is the fastest blockchain in the industry. A common misconception is that Sei is a DeFi chain. However, the exchange of digital assets is universal across gaming, social, and NFTs. Trading is general purpose.
Key Features
Sector-Specific Focus on Trading
One of the key distinguishing factors of Sei is its sector-specific focus on trading. It aims to serve as the go-to blockchain for various applications in the DEX (decentralized exchange) sector. This strategic approach enables Sei to tailor its capabilities specifically to the needs of the entire crypto trading sector including DEXs, DeFi protocols, non-fungible token (NFT) platforms, and even gaming applications.
Performance Enhancement
Sei’s overarching mission encompasses three main areas: enhancing performance, ensuring security, and fostering interoperability. By prioritizing these aspects, Sei aims to redefine the trading experience within the DeFi space.
In terms of performance, Sei promises lightning-fast transaction finality, boasting the industry’s fastest time to finality, reaching an impressive lower bound of 300ms. This remarkable speed is achieved through the incorporation of built-in parallelization within its infrastructure, rendering it highly suitable for trading functionalities. The underlying technological advancements of Sei are founded upon two groundbreaking contributions in the field of consensus research, specifically the utilization of Twin-Turbo consensus.
Security Measures
Security is a paramount concern for any blockchain platform, and Sei addresses this by employing frequent batch auctions which actively mitigates the risks associated with miner-extractable value (MEV) and front-running. This provides a robust security framework for applications built on Sei, ensuring a smooth and secure trading experience for users.
Fostering Interoperability
Sei also recognizes the importance of interoperability and has strategically partnered with various protocols to maximize its potential in this area. Notably, Sei has formed a partnership with Axelar, a renowned cross-chain infrastructure provider. Through this collaboration, Sei aims to enhance its bridging capabilities, facilitate seamless communication with other protocols, and enable efficient movement of capital to and from other blockchains. This interoperability paves the way for a broader ecosystem and improves accessibility for users.
Sei’s Solution to the Exchange Trilemma
Sei addresses the exchange scalability problem by building the first Layer 1 specialized for trading, optimizing every layer of the stack to offer the best infrastructure for the exchange of digital assets. Sei is the fastest chain to finality with a lower bound of 300ms. It achieves industry-leading performance through its Twin-turbo consensus and is one of the only chains to conduct market-based parallelization. Sei also has a native matching engine that exchange teams can leverage and offers frontrunning protection to combat malicious frontrunning that is rampant in other ecosystems.
Partnerships and Developments
In April, Sei Labs, the team behind Sei, announced that it has secured a significant commitment of $50 million from Foresight Ventures, a prominent venture capital firm. This substantial commitment contributes to the overall Sei Ecosystem Fund, which now stands at $120 million, including previous contributions from various entities such as Multicoin, GSR, Hudson River Trading, and others. This recent development further solidifies Sei’s position as a competitive player in the L1 blockchain landscape.
Sei has also established a seamless connection with BitKeep, the leading multi-chain wallet in the Web3 space, enabling users to efficiently access and explore the extensive ecosystem offered by Sei. By integrating with Sei, BitKeep aims to provide its users with enhanced accessibility and a deeper understanding of the various opportunities and benefits available within the Sei ecosystem.
