The Sei Network is a layer 1 blockchain protocol focused on scalability, interoperability, and user experience. In this beginner’s guide, we will cover some of the key features and functionalities that make Sei stand out.
Scalability
One of Sei’s core innovations is its unique approach to scalability. Sei uses sharding to split the network into smaller partitions called “shards” that can process transactions in parallel. This allows the network to handle much higher transaction volumes compared to traditional blockchains. Sei aims to reach 100,000 transactions per second, making it suitable for large-scale applications.
Smart Contracts
Like other next-gen blockchains, Sei supports smart contracts. These are programs stored on the blockchain that execute automatically when certain conditions are met. On Sei, developers can use familiar programming languages like Rust and C++ to create secure and efficient decentralized applications. Features like native compatibility with the EVM also make it easy to port smart contracts from other networks.
Consensus
Mechanism Sei uses a hybrid consensus mechanism that combines Proof of Stake and Verifiable Random Functions to achieve fast and fair transaction validation. This allows anyone to participate in the consensus process and earn rewards, while limiting the power of large token holders. The team is also working on optimizations like shard-specific randomness to further improve security and throughput.
Interoperability
A key focus for Sei is interchain interoperability — the ability to share information and value securely across different blockchains. This is enabled by the Cosmos IBC protocol that Sei has adopted natively. Users can transfer assets back and forth between Sei and other IBC-enabled chains with ease. This feature will only become more useful as more blockchains add IBC support.
Governance
Sei features on-chain governance that empowers SEI token holders to direct the future evolution of the protocol via proposing and voting. Users can submit text proposals for upgrades, changes in parameters, funding research, etc. After open discussion, proposals supported by majority votes get implemented. This governance system aligned incentives between users, developers, and validators.
Ease of Use
In keeping with its goal of great UX, Sei offers user-friendly wallets apps for mobiles and PCs. These abstract away blockchain complexities allowing mainstream users to access DeFi services easily. Additional tools like blockchain explorers, developer APIs, documentation portals also create a friendly ecosystem for builders and users.
