Sei (SEI) is a cryptocurrency aiming to shake up the decentralized exchange (DEX) landscape. Unlike many general-purpose blockchains, Sei is a sector-specific Layer 1 blockchain, meaning it's built specifically for optimizing trading. This focus translates to features designed to give DEXes an edge in terms of speed, scalability, and reliability.
Sei boasts an impressive transaction finality time of 380 milliseconds. This rapid speed makes it ideal for high-frequency trading and real-time digital exchanges, offering a user experience closer to traditional web2 platforms. Additionally, Sei's architecture is designed for scalability, allowing it to handle a high number of orders per second. This is crucial for DEXes to compete with centralized exchanges that often struggle with order overload.
Security is another key aspect for Sei. The network is built on a foundation of secure and proven technologies like Tendermint consensus and WebAssembly (WASM). This focus on security is essential for attracting large institutions and fostering trust within the DeFi ecosystem. SEI, the native token of the Sei blockchain, plays a multifaceted role. It serves as the network's fuel, covering gas fees for transactions. SEI holders can also participate in governance, shaping the future of the network through voting on proposals. Staking SEI tokens further contributes to network security and rewards users for their participation.
While still a relatively new project, Sei has garnered attention from industry leaders like Coinbase. Coinbase Ventures, the investment arm of the major cryptocurrency exchange, has expressed its support for Sei, citing its innovative approach and potential to unlock new possibilities for DeFi builders and institutions.