Exchange Sei (SEI) at the Best Rates

Sei Network: Enabling Mass Adoption of Digital Assets

One of the key problems in decentralized finance has long been the lack of interoperability and liquidity. Although there are numerous obstacles to entering the realm of cryptocurrency ownership, including psychological ones related to transferring to new financial platforms, there are a few that stand out. Sei, a ground-breaking blockchain platform, has established itself as a major player in the market by providing cutting-edge features and advantages over other platforms. Sei, built on Cosmos, has made a name for itself as the quickest and most effective Layer-1 blockchain for trading and other uses thanks to its optimized infrastructure, scalability, and enthusiastic community. Let’s take a closer look at Sei network and find out more about this project.

What Is Sei Blockchain?

Any blockchain network must be scalable, especially in trading with significant transaction volumes. Because of Sei's scalability, trading can continue even at busy times. Sei is a great option for developers building decentralized applications and artists producing NFTs because it is useful for a variety of purposes outside of trading. Because of its adaptability, developers may express their ideas on a quick and dependable blockchain. Sei has been able to offer a few key elements to market players: 

1. Own order matching mechanism: Providing scalability of order books at DEX exchanges built on Sei.
2. Breaking Tendermint: Sei is the fastest chain in ~600 ms.
3. Twin-Turbo Consensus: Reduces latency and increases throughput.
4. Advance Protection: Combats malicious advance, which is widespread in other ecosystems.
5. Application of market parallelization principles in DeFi.
6. Native price oracles. Thanks to the built-in blockchain oracles, decentralized applications receive reliable information without using third-party tools.
7. Combining orders. To minimize gas costs, updating several markets simultaneously is combined into one transaction.
8. Adaptability. It is quite easy to make the necessary changes to the network.
9. Compatibility. Due to the fact that Sei is built on the basis of IBC, it has native compatibility with other IBC-compatible blockchains.

Due to the throughput and decentralization restrictions associated with Layer-2 rollups, Sei decided to develop itself as a Layer-1 blockchain rather than a Layer-2 one on Ethereum. Sei draws consumers interested in trading across many applications by focusing on trade and acting as a general-purpose Layer-1 blockchain.

Furthermore, Sei supports parallel transaction execution, resulting in reduced latency and a more responsive user experience. In conclusion, Sei is a permissioned blockchain, meaning that developers are required to submit and pass a proposal through the governance structure before deploying it. This ensures that the network only supports dApps that are in alignment with community values thereby reducing congestion. These optimizations make Sei a highly scalable, efficient, and user-friendly platform for trading-related applications.

How Does It Work? Nitro Portal

Sei Labs is directly involved in the development of Nitro, a portal between the Cosmos and Solana ecosystems. Nitro is a layer 2 built on top of Sei that anyone can deploy applications on. It will function like a rollup by batching and sending transaction data to Sei.

Nitro will uniquely leverage Solana’s Sealevel Virtual Machine (SVM). In this, Nitro will be a way for Solana developers to easily port their dApps into the IBC ecosystem, and Solana users can access Nitro dApps using their native Phantom wallet.

Sei Blockchain: Consensus

Sei utilizes a modified version of Tendermint BFT to improve finality times and suit it to the needs of the DeFi sector. Its consensus model is dubbed twin turbo consensus and allows the Sei to achieve a 600 millisecond finality time, 40% less than the 1-second finality time provided by Cosmos’s implementation of Tendermint BFT. Sei achieves this feat via intelligent block propagation and optimistic block processing.

Intelligent block propagation is a mechanism for expediting the process of disseminating proposed blocks throughout the network. The system functions via a gossip protocol; when full nodes receive a transaction they propagate it to other nodes in the network. Upon receiving a transaction, validator nodes verify its validity before adding it to their local mempool where block proposers can analyze the transactions and proceed to create a block proposal. Block proposers will then disseminate the block proposal, including the unique identifiers for each transaction to each validator node within the network before sending the entire block. This enables validators to reconstruct the block proposal from their own mempool thereby decreasing the time a validator has to wait before receiving a block. If a validator’s mempool does not contain the requisite transactions to reconstruct the block, it will wait to receive all of the block parts from the network and reconstruct it. This process significantly expedited the process of receiving a block for validation, thereby allowing the process to occur more rapidly. 

While intelligent block propagation is a way of efficiently transmitting block proposals, optimistic block processing is Sei’s specific optimization of the Tendermint consensus mechanism. Specifically, validators begin optimistically processing transactions and adding the state write to a data cache during the pre-commit phase. This process is referred to as optimistic because it assumes that the data from the cache will be committed following the pre-commit phase.

Combined, the processes of intelligent block propagation and optimistic block propagation are referred to as twin turbo consensus. Sei claims that this system supports an 83% improvement in transaction throughput. These improvements enable Sei Network to avoid congestion and provide a better user experience while supporting the intensive requirements of high-functioning DeFi applications.

What Is SEI Coin?

SEI coin is the native token of the Sei blockchain. Sei Network coin is used for many important transactions and functions performed on the SEI blockchain. In fact, SEI crypto has many uses in the Sei blockchain. It has many functions such as paying network fees, using it as a governance token, and providing liquidity to applications on the network.

1. Network fees: SEI coin is used to pay the fees required for transactions performed on the Sei blockchain. 
2. Governance: Those who own SEI coins have the right to actively participate in the future direction and decisions of the SEI protocol.
3. Trading fees: SEI coin is used for the fees required for trading transactions on exchanges built on the SEI blockchain.
4. DPoS validator staking: SEI coin holders can collaborate with validators to secure the network or use the SEI staking option by running their own validators.
5. Local collateral: SEI coin is used as asset liquidity provision or collateral in decentralized applications created on the SEI blockchain.

Sei: New Partnerships to Come

Sei already has a growing family of applications and established partnerships within the IBC ecosystem. The Vortex perpetuals exchange and Pharaoh synthetic assets protocol are both launching natively on Sei. Recently a new stablecoin protocol known as UXD announced its intentions to launch on the network as well. A partnership with the Axelar IBC bridge in August 2022 has been established in order to facilitate cross-chain DeFi interactions beyond the IBC ecosystem between Sei and other EVM-compatible chains.

Levana, a highly anticipated perpetual swaps platform, has announced that it will be powered by and launching on Sei's Layer-1 blockchain. In August 2023, Sei Foundation confirmed the highly anticipated airdrop.

Generally, with its order book infrastructure, Sei can attract a diverse set of protocols that specifically benefit from using this framework. Sei also has the potential to connect to other IBC chains and their ecosystems to become a new go-to liquidity hub for the internet of blockchains.

Where to Buy Sei Crypto?

StealthEX is here to help you buy SEI coin. You can do this privately and without the need to sign up for the service. Our crypto collection has more than 1300 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

Just go to StealthEX and follow these easy steps:

1. Choose the pair and the amount you want to exchange — for instance, BTC to SEI. 
2. Press the “Start exchange” button.
3. Provide the recipient address to transfer your crypto to.
4. Process the transaction.
5. Receive your crypto coins.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.