Sei Network Overview
Key Summary / TLDR:
- Sei is an alternative L1 blockchain designed with trading in mind, possessing unique features like parallel transaction processing, a native order matching engine and twin turbo consensus.
- With partnerships across everything from infrastructure to DeFi, Sei is working to build out an extremely sufficient ecosystem with an entire suite of applications and use cases that will be ready from day one of mainnet.
- Over $120 million is sitting in the Sei ecosystem fund, with the team and various strategic partners actively searching for a variety of promising apps to deploy on Sei in the coming months and beyond.
A Look at Sei and How it Stands Out
When taking a look back, 2020 and 2021 appear to be the years of alternative layer ones, commonly referred to as “Ethereum killers” or Alternative L1s for short. The drastic growth of daily active addresses transacting on Ethereum contributed to the equally as drastic growth of Alternative L1s like Solana, Avalanche and Fantom. As transaction costs on Ethereum climbed to over $100 or more for something as routine as a simple Uniswap transaction or NFT mint, the average user was quickly priced out. In addition to the burden of high transaction costs, the influx of new users led to an increasingly congested network that made failed transactions far too common, leading to a drastically minimized user experience.
While daily transaction count across crypto has fallen sharply from the highs of 2021, the issues around scalability are still just as relevant as ever. Common areas of research in the blockchain trilemma debate like throughput, data availability and of course, decentralization, still represent a significant amount of focus in the space, especially when considering the vast potential of crypto as an industry. While we might not have one billion users at this point in time, there’s surely no harm in building for the future.
Sei has taken steps to separate itself from the pack of Alt L1s and Layer 2 blockchains by attempting to tackle the trading side of blockchain activity first and foremost. With features like parallel transaction processing, a twin-turbo consensus mechanism and its native order matching engine, Sei is working to deliver a fast, simple and secure user experience for blockchain users of all backgrounds.
Placing a huge emphasis on trading and exchanges, Sei is marketing itself as a blockchain for traders, essentially positioning its architecture to best fit the increasingly complex world of crypto trading, whether it be off-chain or on-chain.
In this report, we will examine Sei Network and how it separates itself from other alternative layer one blockchains with its unique technical architecture, along with an in depth analysis of everything currently taking place within the Sei ecosystem as the team gears up for its highly anticipated mainnet release. We hope this report provides you with an analytical perspective on the potential of Sei and a key look at the blossoming ecosystem being built by its community.
Twin-Turbo Consensus
The Twin-Turbo consensus mechanism is a key feature of the Sei blockchain, designed to optimize block propagation and transaction processing. This consensus mechanism is characterized by two main components: Intelligent Block Propagation and Optimistic Block Processing.
Intelligent Block Propagation is a process where, once a full node receives a transaction from a user, it broadcasts that transaction to other nodes in the network. Validators verify the validity of the transaction and add it to their local mempool. Block proposers then look at the current state of their mempool and propose a block to be committed. The block proposal, which includes unique transaction identifiers, is first disseminated to other validators in the network, followed by the entire block. This process significantly decreases the overall amount of time that a validator waits to receive a block.
For the full report, click here.
- Sei is an alternative L1 blockchain designed with trading in mind, possessing unique features like parallel transaction processing, a native order matching engine and twin turbo consensus.
- With partnerships across everything from infrastructure to DeFi, Sei is working to build out an extremely sufficient ecosystem with an entire suite of applications and use cases that will be ready from day one of mainnet.
- Over $120 million is sitting in the Sei ecosystem fund, with the team and various strategic partners actively searching for a variety of promising apps to deploy on Sei in the coming months and beyond.
A Look at Sei and How it Stands Out
When taking a look back, 2020 and 2021 appear to be the years of alternative layer ones, commonly referred to as “Ethereum killers” or Alternative L1s for short. The drastic growth of daily active addresses transacting on Ethereum contributed to the equally as drastic growth of Alternative L1s like Solana, Avalanche and Fantom. As transaction costs on Ethereum climbed to over $100 or more for something as routine as a simple Uniswap transaction or NFT mint, the average user was quickly priced out. In addition to the burden of high transaction costs, the influx of new users led to an increasingly congested network that made failed transactions far too common, leading to a drastically minimized user experience.
While daily transaction count across crypto has fallen sharply from the highs of 2021, the issues around scalability are still just as relevant as ever. Common areas of research in the blockchain trilemma debate like throughput, data availability and of course, decentralization, still represent a significant amount of focus in the space, especially when considering the vast potential of crypto as an industry. While we might not have one billion users at this point in time, there’s surely no harm in building for the future.
Sei has taken steps to separate itself from the pack of Alt L1s and Layer 2 blockchains by attempting to tackle the trading side of blockchain activity first and foremost. With features like parallel transaction processing, a twin-turbo consensus mechanism and its native order matching engine, Sei is working to deliver a fast, simple and secure user experience for blockchain users of all backgrounds.
Placing a huge emphasis on trading and exchanges, Sei is marketing itself as a blockchain for traders, essentially positioning its architecture to best fit the increasingly complex world of crypto trading, whether it be off-chain or on-chain.
In this report, we will examine Sei Network and how it separates itself from other alternative layer one blockchains with its unique technical architecture, along with an in depth analysis of everything currently taking place within the Sei ecosystem as the team gears up for its highly anticipated mainnet release. We hope this report provides you with an analytical perspective on the potential of Sei and a key look at the blossoming ecosystem being built by its community.
Twin-Turbo Consensus
The Twin-Turbo consensus mechanism is a key feature of the Sei blockchain, designed to optimize block propagation and transaction processing. This consensus mechanism is characterized by two main components: Intelligent Block Propagation and Optimistic Block Processing.
Intelligent Block Propagation is a process where, once a full node receives a transaction from a user, it broadcasts that transaction to other nodes in the network. Validators verify the validity of the transaction and add it to their local mempool. Block proposers then look at the current state of their mempool and propose a block to be committed. The block proposal, which includes unique transaction identifiers, is first disseminated to other validators in the network, followed by the entire block. This process significantly decreases the overall amount of time that a validator waits to receive a block.
For the full report, click here.
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