Sei‘nin (SEI) Blockchain technology’s innovative approach, with its emphasis on parallelization and specialized infrastructure, positions it as a powerful platform for a wide range of trading applications. Sei aims to provide a seamless and efficient user experience by addressing the limitations of current Layer 1 Blockchains and offering features such as Twin-Turbo consensus and advanced parallelization. With its robust ecosystem and versatile SEI coin, Sei is poised to revolutionize the trading experience on Blockchain. In this article, you can find answers to two frequently asked questions: What is Sei (SEI), and how to buy Sei (SEI) with TRY.
What is Sei (SEI)?
Sei is the first parallelized EVM Blockchain that combines Ethereum’s leading development framework with Solana‘s high performance. Launched on the mainnet in August 2023, Sei has made a name for itself as the fastest Layer 1 Blockchain to date, finalizing blocks at an impressive speed of 390 ms. Sei offers a specialized infrastructure that provides speed, scalability, and reliability, designed to solve the limitations faced by current Layer 1 Blockchains, particularly in trading applications.
Sei’s protocol improvements revolve around unique features like the Twin-Turbo consensus, which enhances block propagation and transaction ordering. This mechanism significantly reduces the time validators take to receive a block, streamlining the consensus process. Sei also uses advanced parallelization techniques that optimize both transaction and block processing, aiming to maximize efficiency. These features make Sei a robust platform suitable for various trading-related applications, including decentralized finance (DeFi), NFTs, and gaming.
The Twin-Turbo consensus is a crucial component of Sei’s architecture, providing an advanced approach to block propagation and transaction ordering. By optimizing the steps involved in the consensus process, Sei reduces the time validators spend waiting to receive and process blocks. This innovative mechanism enhances the overall performance of the Blockchain by enabling faster transaction finalization. Moreover, Sei’s ability to process transactions in parallel during both the DeliverTx and EndBlock phases significantly increases throughput and efficiency.
Sei integrates a native order-matching engine into its infrastructure, facilitating efficient and decentralized order matching for trading applications. This engine allows decentralized exchanges (DEXs) to distribute order books at the chain level, offering features like frequent batch auctions and uniform clearing prices to prevent front-running and ensure fair trading. This specialized infrastructure is designed to meet the unique requirements of trading platforms, NFT marketplaces, DeFi applications, and gaming economies, making Sei the optimal choice for these use cases.
The proposed Sei v2 upgrade in October 2023 aims to make Sei the first parallelized EVM Blockchain. This upgrade will combine the advantages of Ethereum and Solana to unveil a hyper-optimized execution layer. Significant developments in Sei v2 include backward-compatible EVM integration, optimistic parallelization, and SeiDB improvements for optimized state storage. These enhancements are designed to support higher transaction throughput, reduce latency, and improve the overall development experience on the Sei Blockchain.
The Sei ecosystem includes various components such as DEXs, NFT marketplaces, and specialized dApps like Astroport, Compass Wallet, and Dagora NFT marketplace. These components leverage Sei’s high throughput, low latency, and built-in order-matching engine to offer a competitive trading experience. The SEI token plays a crucial role as a fundamental unit of value and utility within this ecosystem. It is used for network fees, DPoS validator staking, governance, native collateral, fee markets, and transaction fees on exchanges built on the Sei Blockchain.
How to Buy Sei (SEI) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Sei (SEI). On Binance TR, where an account can be created quickly, more than 100 cryptocurrencies, including SEI, can be bought and sold. To buy Sei (SEI) with TRY on Binance TR, you can follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. For this, you need to go to trbinance.com and proceed from the “Create Account” step. In the first step of creating an account, you will be asked to enter basic information such as your email address, phone number, name-surname, date of birth, nationality, and Turkish ID number.
After entering the requested information completely and accurately, an email/sms verification will be done to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is one of the security procedures that must be performed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can perform the verification process either from your phone or through Binance TR’s official website. Note that you will also need your mobile phone to perform identity verification from the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can click on the “Copy URL” option to have the identity verification address sent to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first, tap on the “Identity” option to continue.
Then a screen like the one below will open. To continue the verification process, first, select the document type that suits you and continue.
After selecting the document type, you can continue by tapping on the “Upload Front” option. After taking a photo of the front side of the document according to the document type you selected, tap on the “Upload Back” option and take a photo of the back side of the document and upload it. Make sure the images are clear and the information in the photo is easily readable when taking photos of the front and back sides of your ID card or driver’s license.
Then you can continue by tapping on the “Selfie” option. At this point, your phone’s front camera will open, and you will need to scan your face. Once the camera opens, make sure your face fills the camera area as much as possible.
After completing all these steps completely and accurately, your identity verification process will be completed in a short time.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account through all banks. You can deposit TL 24/7 and make uninterrupted transactions from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits up to 50,000 TL can be made 24/7 with FAST from other banks. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first, go to trbinance.com and hover over the “Wallet” option at the top left of the homepage, then click on the “Deposit” option from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting the bank of your choice from this page. If the bank you prefer does not yet have Binance TR integration, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. All you need to do now is use the information displayed on the page of the bank you prefer to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will automatically be reflected in your wallet on your Binance TR account.
How to Buy SEI Coin with TL on Binance TR?
After the deposit process, you can proceed to the TL to SEI coin purchase step by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the page below will open. By typing “SEI” in the search section on the right side of this page and clicking on the SEI/TRY option from the results, you can go to the TL to SEI purchase page.
Now the SEI trading page below will open. On this page, in the area marked with a red box, you need to enter the price at which you want to buy SEI in the first box and the number of SEI you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy SEI” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) through direct bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users gain access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls supported by Binance’s core functions through Binance TR.
