SEI is a specialized Layer 1 blockchain, designed especially for trading apps. It's known for being extremely fast, due to its innovative technology.
What is SEI
Here’s how it works:
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High Performance: SEI processes transactions much faster than many other blockchains, making it very efficient.
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Frontrunning Prevention: It has a unique feature that stops frontrunning, a common issue where some users unfairly get ahead in trading.
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Twin Turbo Consensus: This is SEI's special technique that makes it fast. It includes:
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Quick Block Sharing: Blocks are shared quickly with validators, reducing wait times.
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Optimistic Processing: Validators quickly start working on the first block they get, speeding up the process.
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In summary, SEI can handle 22,000 orders per second with around 450ms block times. It's particularly good for decentralized exchanges (DEXes), allowing them to set up their own trading systems and markets right on the blockchain.
Team of SEI
Jeff Feng
Co-founder
Jeff graduated from the University of California, Berkeley with a B.S. in Business Administration. He spent three years at Goldman Sachs as a technology investment banker before moving into venture investing for Coatue Management. Since early 2022, he has been a co-founder of Sei Labs.
Jayendra Jog
Co-founder
Jayendra graduated from the University of California, Los Angeles (UCLA), a Bachelor of Science. An experienced programmer who contributed to the development of the Robinhood trading platform. Among the most significant developments is the work on the KYC process, the development of a new user registration by phone number, and a lead for building a Kafka-powered asynchronous task queue. Since the beginning of 2022, he has been a co-founder of Sei Labs.
SEI review
Pros
Speed
SEI boasts unparalleled speed with its Twin Turbo consensus, potentially outpacing other chains.
Scaling
Native Layer 1 order-matching enables DEXes on SEI to scale more efficiently than those on alternative blockchains.
Anti-MEV
Implements order batching to curb front-running, enhancing trade fairness.
Native Price Oracles
Features built-in price oracles for accurate asset exchange rate pricing.
Fee Structure
Initially, the chain-level matching engine will operate without fees.
Cons
Market Competition
SEI faces stiff competition in a crowded blockchain space, which may impact its market presence.
Adoption Challenges
Specialization in trading could limit SEI's appeal beyond the trading community.
Consensus Model Reliance
The entire blockchain's performance hinges on the success of the Twin Turbo consensus, which could pose risks if issues arise.