SEI Token Surges by 50% in Altcoin Race
The SEI token, belonging to Sei Network, has experienced an impressive surge of 50% in the last 24 hours, outperforming other top cryptocurrencies. This surge has pushed the token’s trading price to $0.3638.
Sei Network’s Optimized Blockchain for Trading
Sei Network’s blockchain, designed specifically for trading, has optimized every layer of its stack to provide infrastructure for all types of trading apps. It claims to outperform other Layer 1 blockchains like Solana and Aptos by offering a native order-matching engine in Layer 1, enabling more efficient scaling for exchange apps.
The protocol stands out for its speed, achieving a lower bound time to finality of 300ms, making it the fastest chain in existence. It utilizes the Twin Turbo consensus, which includes intelligent block propagation and optimistic block processing, reducing the time required for consensus.
Additionally, Sei implements market-based parallelization and order batching to enhance the fairness and efficiency of its trading ecosystem.
Growing Interest and User Registrations
Since its launch on August 16, Sei Network has gained a market cap exceeding $380 million and a 24-hour trading volume surpassing $1 billion. The blockchain has witnessed a surge in new user registrations, with over 40,000 new users joining in the past two days. This influx of users has further boosted the token’s market cap and trading volume.
Sei v2 Introduces Seamless EVM Integration
Sei Labs co-founder Jayendra Jog unveiled Sei v2, which introduces Ethereum Virtual Machine (EVM) support through seamless integration with go-ethereum. This allows developers to deploy contracts from other EVM chains and leverage existing Ethereum-based tooling without extra effort.
Optimistic parallelization eliminates the need for explicit dependency definition, enabling autonomous parallelization of transactions. Sei v2 boasts significantly greater throughput than Ethereum’s Layer 1 or Layer 2 solutions, with an upper bound of 12.5k transactions per second (TPS).
Promising Future for Sei Network
As Sei Network continues to attract attention from developers and traders, its open-source Layer 1 blockchain holds promising prospects for the future.
Hot Take: Sei Token Skyrockets, Outperforms Top Cryptocurrencies
Sei Network’s SEI token has experienced a remarkable surge, surpassing other top cryptocurrencies with a 50% increase in value. This surge reflects the growing interest and adoption of Sei Network’s blockchain, which offers optimized infrastructure for trading apps and stands out for its speed and efficiency. With the introduction of Sei v2 and seamless EVM integration, the future looks promising for Sei Network as it aims to revolutionize the blockchain industry.
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