Sei Network is a blockchain project that offers new innovations for decentralized exchange (DEX) platforms. By leading the way in advanced technological aspects, Sei Network plays a key role in shaping the evolution of digital financial markets. 

Sei Network is not just a platform, it is a revolution in the way we move towards a smarter, safer and more inclusive trading future. Come on, find out in more detail about what Sei Network is, how it works, who the developers are involved in, the ecosystem involved, and what features it offers in the following review. 

What is SEI Network (SEI)?

Sei Network is a layer-1 blockchain that operates on the Cosmos SDK. This platform presents an innovative solution to overcome the problems often experienced by DEXs, by combining the speed of off-chain transactions with the security of on-chain operations. 

Sei, built using Tendermint Core, is optimized specifically for trading and claims to be the fastest blockchain ever. Its Twin Turbo consensus mechanism enables order completion in record time, just 300ms on mainnet. 

Source: Sei Network

Additionally, Sei implements a market-based parallelization mechanism, increasing throughput by 5-10 times, on par with Solana. The parallelization mechanism also ensures that even if the front runners pay 100 times the gas fees, they will not be able to execute their orders before you. 

Apart from successfully creating a solution to prevent front-running, the platform also overcomes the “trading trilemma” by providing a DEX module to create an efficient, decentralized and scalable exchange infrastructure.

By improving its infrastructure, it is hoped that trading applications, NFT markets and blockchain-based gaming can run more efficiently in the Sei ecosystem. 

How Sei Network (SEI) Works

Sei operates with unique features that make it have a distinctive way of working. One of them, Sei uses a frequent batch auctioning method to prevent maximum extractable value (MEV) and front running. 

In traditional DEX platforms, one often faces two choices. First, they validate transactions off-chain and face a potential security crisis, or they throw transactions to the layer-1 protocol, which can lead to overloading . 

Source: Sei Network

This dilemma related to scalability and security is often referred to as the "trading trilemma", where decentralization, scalability and security cannot be carried out simultaneously. 

But on the Sei network, all orders are combined into one, and orders of the same type (limit, market, etc.) are processed simultaneously, thereby preventing front running by miners and full node operators. 

This process is called parallelization, where work is divided into small parts and processes them simultaneously, thereby increasing the speed of state synchronization and eliminating front running. Front running is the practice when someone uses inside information to trade a financial asset before subsequent transactions affect its value.

The price of Native Oracle Sei feeds also has a huge impact on its smooth operations. This decentralized data feeding mechanism provides verifiable and real information that every node can use without relying on external entities. 

As an alternative to the two-block order execution framework, Sei relies on a singularity system, enabling order placement and execution in one step. This way, the platform combines or bundles multiple orders for market makers and liquidity providers (LPs), allowing them to save on gas fees. This unique ordering system is known as the Centralized Limit Order Book (CLOB).

Here is a comparison of SEI with similar blockchains:

Source: Sei Network

Who are the Developers Behind the Success of Sei Network (SEI)

Sei Network was created by an experienced team in the financial and technology industries. The founders of Sei Network are Jeffrey Feng, Jayendra Jog, and Dan Edlebeck. 

Jeffrey Feng's experience includes investments at Goldman Sachs, providing deep insight into the world of finance. Jayendra Jog, prior to founding Sei, had a background as a software engineer at Robinhood, demonstrating his technical expertise in financial software development. Meanwhile, Dan Edlebeck is the former CEO of Exidio, which manages decentralized VPN applications in the Cosmos ecosystem. 

Sei succeeded in raising investment funds of 30 million US dollars through two rounds of strategic funding in April 2023. This funding came from leading investors such as Jump Crypto, Distributed Global, Multicoin, Asymmetric, Flow Traders, Hypersphere, and Bixin Ventures. This success marks strong support from key players in the industry, who believe in Sei Network's potential and vision.

Ecosystem

Source: Sei Hub

During its testnet phase, Sei has expanded its ecosystem by announcing new projects almost every day. The various initiatives built on the Sei platform cover a wide range of sectors, from DEX and DeFi protocols to GameFi projects, NFTs and even social projects.

Sei does not only focus on certain aspects, but opens the door to innovation and collaboration across sectors, providing a strong foundation for the development of a diverse and dynamic ecosystem.

What are the Uses of SEI Tokens

In the blockchain world, token holders have an important role in maintaining decentralization. These tokens are more than just a store of value, as they reflect participation and governance rights in the blockchain network. 

Therefore, token holders are not only owners of digital currency, but also an active part of the smooth and sustainable running of the network. They are involved in decisions, consensus mechanisms, and network development, indicating that no single party can completely control the network. This is in line with the basic principles of blockchain which emphasize decentralization.

As a native token on the Sei Network, below are some of the functions and uses of the SEI token: 

• Transaction fees : SEI tokens can be used to pay transaction fees on the network. Using this token, users can easily carry out transactions and actively participate in network activities. 

• Staking : SEI holders can stake, that is, store or lock a certain amount of their tokens to support network security. By staking, token holders can contribute to transaction validation and network management, which in turn brings them additional benefits. 
• Governance : SEI holders have the right to be involved in the protocol's future governance processes. This means they have a say in decisions that influence the development of the network, giving a democratic aspect to network management. 
• Genuine Collateral : SEI tokens are not only a means of payment, but can also be used as collateral or collateral for applications built on the Sei blockchain. This provides additional flexibility for token holders in optimizing the use of their digital assets. 
• Market Fee : In terms of transactions, users can give tips to validators using SEI tokens. This incentivizes validators to give priority to certain transactions, and a portion of those tips can be shared with token holders who have staked with those validators.
• Trading Fees : SEI can be used as a fee for trading on exchange platforms built on the Sei blockchain. Thus, this token becomes the main element in various economic activities in the Sei Network ecosystem. 

In general, the SEI token is not just a digital currency, but a tool that empowers token holders to participate, contribute and support the sustainability of the Sei blockchain network. 

Tokenomics

Sei Network has a total token supply of 10 billion SEI, with the majority allocated for community and project development in the SEI ecosystem. 

Source: Sei Blog

Below are the SEI token allocation details:

• The majority of SEI tokens (51 percent) have been allocated to the community, of which 48 percent is for ecosystem reserves covering staking rewards, ecosystem initiatives such as contributor, validator and developer rewards
• 9 percent for Sei Foundation operational activities 
• 3 percent for launchpool

Conclusion

Sei Network, an innovative blockchain project, embodies the evolution of digital financial markets by pioneering DEX technology. More than just a platform, Sei Network is considered a revolution towards smart, safe and inclusive trading. Its innovative solutions, such as the recurring batch auctioning method and parallelization mechanisms, successfully overcome DEX constraints. 

Built on the Cosmos SDK, Sei Network offers high transaction speeds through Twin Turbo consensus. Significant financial support from leading investors and expansion of the ecosystem with new projects strengthens its position. The SEI token, with a variety of functions including transaction payments and staking , plays a central role in maintaining the decentralization and smooth running of the network. 

When this article was written, SEI was ranked 91st on the Coinmarketcap site , with a total market cap of IDR 7.55T, total supply of 10 billion SEI, token allocation shows commitment to ecosystem development and community participation. Overall, Sei Network is a milestone for innovation in blockchain, paving the way for efficient and inclusive digital commerce.

How to Buy SEI Tokens on Bittime

After reading a complete review of what Sei Network is, are you interested in buying and investing in this crypto project? You can buy SEI tokens on the best crypto exchange platforms in Indonesia, one of which is Bittime. SEI is available on Bittime in the SEI IDR pairing . 

To be able to buy SEI tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance to buy SEI tokens. For your information, the minimum purchase of assets on Bittime is IDR 10,000. 

Below is how to buy SEI on the Bittime application:

1. Bittime application login.
2. On the main page, select the Market menu or click the graphic icon. 
3. Select IDR pairing to buy SEI tokens with Rupiah.
4. Click 'Buy'.
5. Select the order type to use. Limit orders, market orders and stop orders are available.
6. Enter the nominal rupiah to buy SEI.
7. Click the 'Buy SEI button. 
8. A notification pop up will appear. Read it carefully and click 'Confirm'. 
9. Enter the six digit Transaction PIN.
10. The application will display a successful order notification. 

Continue to monitor the movement of SEI, BTC, ETH, SOL price charts today to find out crypto market trends on Bittime. 

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.