Sei Network

Sei Network has made quite an impressive entry into the crypto world, all thanks to its insane speed and high scalability. The network facilitates rapid transactions that are safeguarded with top-notch security features.

But why does this new network operate so well against many big players like Cardano, Ethereum, and Solana? Let’s find out.

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What is Sei Network?

Sei Network is specifically designed to allow users to exchange digital assets, such as NFTs and other tokens. It is one of the fastest layer-1 blockchains, and can handle up to 380 ms transaction finality. Furthermore, it can support up to 20,000 orders per second, giving users a broad pathway to complete transactions easily.

The Vision and Mission

Sei Network aims to provide its users with reliable and rapid platforms that allow them to trade digital assets in no time. The team wants to build a secure infrastructure that can surpass current blockchain networks in high-volume transactions. And by far, Sei has successfully implemented the right strategies and technologies for this mission.

Key Technological Components

Sei Network has embedded several advanced technologies to deliver what it promises in terms of speed. It integrates multiple algorithms to improve the performance and scalability. Some such algorithms include, Twin-Turbo Consensus, Native Price Oracle, Proof-of-Engagement (PoE), Parallel Order Execution, and others.

Founders of Sei Network

Jay Jog and Jeff Feng founded the company in 2018. Dan Edlebeck is an additional co-founder. Previously, Edlebeck was also a co-founder and CEO of Exidio (a decentralized networking solution) for two years. Company operations started in 2018, and the ecosystem grew to 50 teams by the end of 2022.

Advantages of Sei Network

Sei Network is not like a regular cryptocurrency platform. Instead, it came into the business to address several problems. The token, as well as the network, provides you with many blockchain advantages that are not found in similar platforms. A few of these benefits are discussed below.

Enhanced Security and Privacy

Sei Network has the back support of some of the most reputable institutes, for its security measurements. It focuses on the most advanced and most sophisticated encryption to protect each transaction. One aspect of such security is single block order execution. This model works on aggregating several orders into one large block before it executes the transaction.

Scalability and Speed

As previously discussed, Sei is developed with one main focus in mind, and that is to target speed and scalability. Therefore, most of the platform’s algorithms cover both areas of trading assets. A few of those technologies are discussed in more depth below.

• Twin-Turbo Consensus is a mechanism that merges two infrastructures, namely intelligent block propagation and optimistic block processing. This helps the network to increase the throughput and efficiency by up to 83%.
• Intelligent Block Propagation compresses the transaction blocks and only sends the hashes rather than whole block data to increase the speed.
• Optimistic Block Processing allows the network to process blocks even without pre-voting and pre-commit requirements. In this way, the network improves overall throughput by 33%.
• Parallel Order Execution is unlike traditional blockchain mechanisms, which processes orders sequentially. Sei uses parallel executions to speed up processing. This algorithm works on the orders from multiple markets simultaneously. However, if it receives multiple orders from the same market, it will still execute them in sequence.
• Native Price Oracle is a price oracle that restrains validators from committing to the block until every other validator also agrees to the price. In this way, it improves blockchain accuracy while also increasing fairness. Additionally, it allows all the validators to get a reliable price feed on the modules.

Environmental Sustainability

Since the network works on the Proof-of-Stake (PoS) consensus mechanism, it eliminates the mining requirement. Hence, it is more environmentally-friendly than other PoW networks. More precisely, the platform uses a distinctive consensus mechanism called Proof-of-Engagement (PoE), which makes the transactions faster than traditional speeds.

Due to this faster processing, transactions consume much less energy than normal operations, leaving a minimal carbon footprint. Another factor that contributes to this environmental sustainability is batch operations, which also limit the usage of energy for each individual transaction.

The Roadmap Ahead

Sei is not just a general-purpose network to target a broad market. Although the team wants to become one of the best crypto platforms, they are more focused on improving the speed and scalability of the network.

That’s why the roadmap of Sei is based on speed and versatility improvement projects further down the pipeline. Below, are the brief overviews of their current plans and what the development team is planning in the upcoming years.

Ongoing Development

Sei Network has started several projects for its users’ benefit. Thus, it is not just the fastest Layer-1 network but also offers other amazing features besides staking. One of those is the airdrops, which the testnet validators and other users can receive.

The team has already allocated 3% of the tokens for Season 1 airdrops.

Additionally, it also features several other applications on the blockchain network as digital assets or utility apps. You can get apps from different categories, including DeFi, gaming, institutional, Metaverse, social, and others. You can also invest in NFTs or stablecoins, or avail of multiple digital wallets.

Future Upgrades and Features

In the future, Sei developers plan to integrate a decentralized exchange (DEX) into the platform and also include a lending feature to help people get the dice rolling on the network. Moreover, the team also plans to include trading and investing features to attract a broader audience, hinting towards a promising future.

Investing in SEI

If the above project plans have excited you, the next thing you may want is to invest in the network ASAP. Luckily, you can purchase its native coin with the same name, SEI.

It has 10 billion tokens in total supply, with 1.8 billion tokens available in the initial circulation phase.

How to Get SEI?

Investing in SEI is pretty easy if you are familiar with its testnet tokens. These tokens are available through the faucet, which you can obtain by following the steps mentioned below.

1. Select a digital wallet, where you will store your SEI coins. Install and configure it on your device.
2. Go to the Sei discord community and authenticate yourself to become a member.
3. On the discord server, find the #testnet-faucet channel.
4. Provide your digital wallets address to the channel. It will give you a SEI token within 10 minutes as a gift. Later, you will keep receiving SEI tokens via airdrops.

Potential Returns and Risks

The coin price soared by over 300% at the launch. The SEI coins are currently trading at around $0.13 – thanks to the bearish investors’ sentiments.

The network will incorporate several blockchain advancements in 2024, which is expected to fuel the price to around $0.7.

Some analysts even suggest that the price might reach up to $1.8 by 2030.

The network’s objective to promote sustainability will generate a higher demand, since green investments are becoming popular among investors.

How to Buy SEI on Binance

There’s also a simpler way to buy SEI using the Binance Crypto marketplace. Since it is a leading platform in the crypto industry and was among the initial exchanges to list SEI with Coinbase, OKX, Kraken, and others. Here’s a detailed guide on how you can buy the token on the Binance platform.

Creating Your Binance Account

If you don’t have a Binance account, first go and register on the platform. You can either sign up with your email address, phone number, Google account, or Apple ID. Select the method you prefer and verify through the OTP received.

Use the link below to take you directly to the Binance registration page.

Verifying Your Identity

The first step will only register your account. You still cannot perform any operation on the platform without an identity verification. So, go through the KYC verification after signing up. Complete the KYC by providing basic and necessary personal information. Next, verify your residential address to complete the process.

Depositing Funds to Your Binance Account

After you verify your identity, you can deposit funds and buy crypto on Binance. But to purchase SEI, you will need some balance in your account. You can either deposit fiat or other cryptocurrencies, but here, we’ll explain the fiat method.

1. On the home screen, click the Buy Crypto button from the top menu and select Bank Deposit. 
2. Select the fiat you want to deposit and one of the available cards.
3. If you don’t already have a connected card, select Add Credit/Debit Card.
4. Enter the card details and the amount you wish to deposit, and hit Confirm.
5. Verify to complete the process. Your funds will be deposited soon.

Finding SEI on Binance

When you have a sufficient balance in your account, it’s time to buy SEI.

1. Go to the same Buy Crypto and select Cash Balance.
2. Select the fiat currency you want to spend and enter its amount.
3. Choose SEI from the crypto coins list in the Receive section.

Make sure SEI is available in your country.

Placing an Order for SEI

Once you are satisfied with everything, select continue. You will receive OTP, which you will need for verification to complete the order. Confirm your purchase, and you will receive SEI tokens once the transaction is completed.

Storing SEI in a Wallet

You will automatically receive SEI tokens in your Binance wallet. So, you can keep the tokens within your account or send them to another digital wallet. For this purpose:

1. Go to the Withdraw section.
2. Select SEI and its network ERC-20.
3. Copy the wallet address where you want to send your tokens and paste it into the Deposit Address box.
4. Verify and Confirm the process to send your tokens successfully.

Addressing Concerns

While the Sei network has been a remarkable addition to the crypto world, it also has some concerns that the team will need to address. However, it’s worth noting that this does not mean that such aspects makes the tokens a bad investment decision, since the overall network is, generally-speaking, fantastic. These concerns just possess some long-term restrictions that the development team can’t ignore.

Regulatory Compliance

Since the platform is quite new in the industry, there’s no regulatory body that checks network administrations. Although the network seems to be flourishing in this early stage even without them, the executives must partner with the regulatory bodies of their operating countries to provide their users an added reliability assurance.

Despite its lack of proper regulatory authority, their partnership with the Global Blockchain Business Council (GBBC) demonstrates that the company is running a legitimate blockchain and network.

Volatility and Market Fluctuations

SEI is a native utility token for fee payments and staking; it is not a stablecoin. It is prone to the volatility of the crypto market, and could plausibly shoot to an all-time high before dropping to an all-time low, within a day. So, the changing trends in the market means fluctuation in its price, meaning an unreliable nature.

Security Measures

According to the Sei Network website, it is secured by some of the most highly reputed institutions and validators around the globe.

Moreover, the network is trusted by several world class operators and institutions, including Coinbase, Layerzero, multicoin capital, and so on and so forth.

This suggests that the network is quite credible and has embedded security features to protect users.

Conclusion

Being a new crypto token and blockchain network, Sei Network has to cover a lot of distance to become a leading platform. It has set its high benchmarks right from the start. The token has potential, and provides rapid transaction solutions with all the necessary security measures.

So, if you are thinking about investing in the token, feel free to proceed. But it is better not to invest foolheartedly, as the platform is still in its early phases. Since it remains unregulated, and still has a volatile nature, you should be careful about your investment. Despite these worthwhile concerns, the token seems to be safe overall, and has a bright future due to the development team’s future plans.

We Coin-Labs.com provides only objective information about Sei Network.
Therefore, we are not responsible for the investment decision in Sei Network and the resulting loss.

Sei Network Basics

Here are some factors that investors should consider before investing in Sei Network.

Cryptocurrency Features	Sei Network ()
Publisher or Developers
Headquarters (Registration Number)
Symbol
Platform
Published Date (CMC Registration)	2024-10-02
Max Supply	958,691,258,152,859

Reliability Score of Sei Network in 2024

These are indexes mesuring the investment reliability of Sei Network conducted by Coin-Labs.com.

Investment Reliability Rating Items	Scores and Current Status
Company Activation Rate	/ 10.0 CAR
Communication Rate	/ 10.0 CR
Technology Transparency Rate	/ 10.0 TTR
Development Participation Rate	/ 10.0 DPR
Listing Status on the World's Top 10 Exchanges	Listed on 0 Exchanges
Number of Available Pairs Worldwide	1 Pairs
Market Cap of the Cryptocurrency	6,683,329 USD (Rank #1295)

The table above shows the result of investment suitability evaluation for Sei Network.
Check out how we evaluate cryptocurrencies on the crypto rating description page.

Sei Network Price

Here are the price and recent trading volume of Sei Network. (Data of 2024-10-03 00:15:00)

Price Items	Price and Trading Volume of Sei Network
Sei Network Price	0.000 USD
Price Change 24h	-5.48%
Price Change 7d	-4.99%
Trading Volume 24h	11 USD
Trading Volume Change 24h	-82.47%

Cryptocurrency Metadata

You can check the development status and social media information of Sei Network through the links in the table below.

Metadata Source	URL
🌎 Official Website
📖 White Paper
🛰️ Source Code (GitHub)
🐦 Twitter
🤖 Reddit
🎺 Message Board

Where to Buy Sei Network

Here are the top ten world crypto exchanges where traders can buy Sei Network in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Not listed
Coinbase	Not listed
Kraken	Not listed
KuCoin	Not listed
Bitfinex	Not listed
OKX	Not listed
Huobi	Not listed
Bitstamp	Not listed
Bybit	Not listed
Gate.io	Not listed

Frequently Asked Questions