Sei Network is one of the new Layer 1 projects of the Crypto market, and this Blockchain has ambitions to become a foundation for the future financial system.
So, what’s so special about Sei Network?
What is Sei Network?
Sei is a layer 1 blockchain designed for trading. Therefore, they choose to build on Cosmos SDK to take advantage of advanced features such as Tendermint protocol, IBC… to create a complete and scalable decentralized trading ecosystem.
Highlights of Sei Network
We would write in a concise, easy-to-understand way to help readers access Sei’s technology.
Twin – Turbo consensus mechanism
Lots of on-chain transactions make up a Block. Instead of waiting for enough transactions to form a block, Sei puts those transactions in a “pending queue”, which then forms a new block.
Thus, the processing speed of the Sei network will be significantly increased.
Instead of processing a large cake, the Sei network breaks the cake into 10 small pieces and processes all 10 of them at the same time.
However, Parallelization still has some shortcomings, such as parallel processing can cause conflicts between transactions and lead to errors in the process of updating the network’s state.
Native Price Oracles
Validators are required to participate in the role of oracles to ensure the reliability and accuracy of prices for assets.
Thus, we can see that this network was born to serve the financial system.
Features such as fast, compact, light and network-wide pricing will fulfill this ambition of Sei.
Currently, Sei is still in the development stage and does not have a large ecosystem yet.