Greetings to all, in this article I would like to talk about the Sei Network project from a technical point of view, but in simple words. What are its advantages and what is fundamentally new offered by Sei.
Sei Network is a layer 1 blockchain built on Cosmos SDK and Tendermint Core. Sei is focused on the DeFi sector and serves as a common liquidity hub for decentralized applications. Due to its special built-in infrastructure, Sei is ideal for order book trading protocols. Thus, Sei is designed to increase the efficiency of DEX exchanges, increase their throughput, in order to compete with centralized exchanges.
Sei Key Points:
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Proprietary order matching engine - provides order book scalability for DEX exchanges built on Sei;
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Breaking Tendermint-Sei is the fastest chain at ~600ms;
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Twin-Turbo Consensus - reduces latency and increases throughput;
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Anti-forward protection - fights against malicious anticipation that is widespread in other ecosystems;
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Applying the principles of market parallelization in DeFi;
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Native price oracles. Thanks to the built-in blockchain oracles, decentralized applications receive reliable information without the use of third-party tools;
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Combining orders. To minimize gas costs, updating several markets at the same time is combined into one transaction.
At the same time, applications built on Sei receive:
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Adaptability. Due to this, it is quite easy to make the necessary changes to the network;
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Compatibility. Because Sei is built on top of IBC, it is natively compatible with other IBC-compatible blockchains.
Sei combines the benefits of general purpose blockchains and blockchains that are optimized for application performance.
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Sei has something to brag about to other blockchains:
Common liquidity center model
One of the main features of Sei. Applications can easily connect to Sei's order matching engine and access pooled liquidity from other applications.
A new DEX module has been created that allows smart contracts to use the basic order matching mechanism. Thanks to this, more opportunities and types of financial services will appear in DeFi. Such complex operations as options, futures, real-time bets, etc. will be widely used. In these areas there will be full-fledged competition to centralized sites.
Blockchain oracle
Sei has its own Oracle module to support asset exchange rate pricing and its use by other contracts. Oracle provides the most reliable and accurate asset valuation.
As far as oracle pricing is concerned, voting rounds consist of several stages to reach a consensus on pricing data before accepting exchange rates.
Friends, Sei is now also hosting rewarding activities (Testnet and Ambassador Program).
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