What is Sei Network? Sei Network is a Layer 1 blockchain platform built and developed on the Cosmos ecosystem. Recently, Sei has successfully called for an amount of $5M from a series of large VCs, MEXC also deployed a $20M package to build Sei’s ecosystem and Sei also received strong support from the crypto community. Global.
So where does Sei Network come from to have such huge attraction? Let’s find out with Weakhand in this article!
Overview of Sei Network
Motivation for developing Sei Network
Sei Labs, the developer of Sei Network and Sei Network’s ecosystem, believes that DEX is the most important piece of the puzzle for the cryptocurrency world. DeFi needs AMM as a matter of course. Even the different NFT segments need decentralized exchanges towards OrderBook and AMM in the future. Games also need both AMM and NFT Marketplace (OderBook). DEXs themselves are also extremely successful, even though the underlying blockchains are rife with instability.
What is Sei Network?
Sei Network is a Layer 1 Blockchain built with the goal of Trading built and developed on the Cosmos ecosystem. All of which Sei Labs develops towards optimizing liquidity and improving UI UX for their users.
Sei Network will have the following series of advantages:
- Native Order Matching Engine: This tool allows players to push Orderbook projects built on Sei Network. It can be said that OrderBook is losing to AMM right on DeFi because of factors related to liquidity.
- The block completion time is only about 600 milliseconds, which will be the fastest chain when officially put into operation.
- Twin-turbo consensus: This consensus mechanism helps increase scalability for Sei.
- Frontrunning protection: Mechanism to protect the platform before malicious agents spread to Sei’s entire ecosystem.
With the above factors, Sei not only aims to develop and optimize DEX but also targets all types of financial products such as sports betting, options and futures contracts – complex financial products.
Compared to other blockchain platforms, Sei Network has had many updates to improve the problems that major blockchains are facing.
There are currently many projects being built and developed on Sei Network including Axelar, Satori, Vortex, UXD Protocol and Nitro Labs.
Development Roadmap
Sei V2 & big ambitions
In November 2023, Sei Network’s development team officially launched the first important upgrade of the network, Sei V2, with the goal of becoming the first Parallelized EVM platform in the Crypto market. Some features of Sei V2 can be mentioned as:
- EVM compatibility allows developers to deploy audited smart contracts from other EVM Blockchains to Sei without code changes.
- Allows reuse of many familiar toolkits and applications on Sei such as Metamask.
- Optimistic Parallelization: Allows optimistic parallel execution without developer intervention. Until transactions conflict, the conflicting transactions will be executed sequentially.
- SeiDB: Upgrading and improving the storage layer avoids some conditions related to network state, thereby improving network performance and nodes can easily synchronize.
- Allows easy combination between EVM and other execution environments on Sei.
Core Team
Sei Network was built by the Sei Labs team.
Jayendra Jog: Co Founder
- Jayendra was relatively young when he just received his Bachelor’s degree in Computer Science from the University of California.
- After graduating, Jayendra worked as an intern at SAP, Facebook, and Pinterest for about 3-4 months each, not a long time.
- After that, Jayendra officially worked at Robinhood as a Software Engineer. After more than 3 years, Jayendra quit his job and built Sei.
Jeff F: Co Founder
- It seems that Jeff and Jayendra attended the University of California together, but unlike his companion, Jeff earned a Bachelor’s degree in Business Administration.
- After graduating, Jeff worked at Goldman Sachs bank for 3 years and at Coatue investment fund for more than 2 years. That partly explains Sei’s Investors are full of big names in the US.
Investor
- August 30, 2022: Sei Network announced a successful call for a relatively modest amount of $5M led by Multicoin Capital with participation from Hudson River Trading, Flow Traders, Delphi Digital, Coinbase Ventures, …
- November 15, 2023: Sei announced that Circle Ventures has made a strategic investment in Sei Network.
Tokenomics
Update…
Exchanges
Update…
Sei Network’s Information Channel
- Website: https://www.seinetwork.io/
- Twitter: @SeiNetwork
- Telegram: https://t.me/seinetwork
- Medium:
Summary
Sei Blockchain continues to be one of the potential blockchains built specifically for users inclined to trade in the crypto market. With strong support from the community Sei is facing many opportunities in the future.