What is Sei Blockchain?

Sei is the first parallelized EVM blockchain. With the combination of Solana's speedy performance and Ethereum's top development framework, Sei distinguishes out as the first parallelized EVM blockchain. Prioritizing security, dependability, and high throughput, Sei launched on the mainnet in August 2023 and asserts that it is the quickest tier 1 blockchain due to its continuous block finalization time of 390 ms.

Acknowledging the constraints that existing Layer 1 blockchains place on trading apps - such as concerns with scalability, speed, and reliability, Sei wants to address them by providing specialized infrastructure. In order to provide seamless user experiences, this infrastructure is particularly designed to meet the demands of trading apps.

Sei's protocol enhancements are based on a number of characteristics. For example, the Twin-Turbo consensus improves transaction ordering and block propagation. By drastically reducing the time validators need to receive a block, this strategy aims to expedite the consensus process.

Sei also presents sophisticated parallelization strategies that maximize efficiency in block and transaction processing. Because of these characteristics, Sei may be used as a platform for a variety of trading-related applications, including gaming, non-fungible tokens (NFTs), and decentralized finance (DeFi). Sei has the potential to completely transform the web3 trading experience with its simultaneous processing of transactions and inclusion of a native price oracle for precise asset pricing.

How Sei Works:

Sei is made up of many software elements that cooperate to maintain the blockchain. While some of these elements are connected to the execution layer, others are connected to the consensus layer.

Sei presents the Twin-Turbo consensus mechanism, a sophisticated mechanism for transaction ordering and block propagation. The time validators spend waiting to receive and process blocks is greatly decreased by this mechanism. Transactions are finalized faster as a result of its optimization of the prevote, pre-commit, and commit phases of the consensus process.

Sei commences an optimistic processing of the initial block proposal, in contrast to typical approaches where block processing begins after the pre-commit stage.

Parallelization

Sei's capability to handle transactions in parallel is one of its main features. To do this, block processing is split into the DeliverTx and EndBlock stages, each of which uses sophisticated parallelization. Through the simultaneous processing of many transactions, Sei enhances its overall performance and throughput.

$SEI is the native coin of the Sei blockchain and it has utilities like payment of gas fees, staking to participate in governance, etc.