What is Sei (SEI) Coin?

Sei (SEI) is a Layer 1 network optimized for the exchange of digital assets, fully open-source, and publicly accessible as a blockchain. In this article, you will find answers to various questions such as what Sei is, what the native asset SEI coin is, and how to purchase SEI coin on the major cryptocurrency exchange Binance.

What is Sei?

Sei is a Layer 1 network optimized for the exchange of digital assets and is an entirely open-source public blockchain. The consensus mechanism and transaction processing advancements of Sei provide parallel execution, industry-leading transaction finality, and a seamless user experience for applications built on the Sei Blockchain.

Sei is designed to address scalability and user experience issues that hinder the mainstream adoption of Web3 applications. The exchange of digital assets is a universal function in applications like gaming, social media, NFTs, and Decentralized Finance (DeFi).

One of the most significant features of the Sei Blockchain is that it is completely open-source, governed by a distributed group of stakeholders, including individuals, validators, infrastructure providers, developers, applications, institutions, and other organizations. Sei’s consensus mechanism features single-slot finality that requires consensus among two-thirds of the network’s voting power before a block is added to the chain. This prevents unintentional reorganizations and forks, offering faster response times and, most importantly, preventing the rollback of user transactions.

Moreover, Sei uses compressed block propagation, which includes hashes of all transactions in the block, instead of regular block propagation. This allows validators to construct blocks locally, leading to a 40% performance improvement and providing faster response times to network users. Instead of processing blocks after they reach consensus, the network begins processing them as soon as they are received. This results in a 33% performance improvement, delivering faster response times to users.

Instead of executing transactions one after the other, Sei Blockchain can identify which transactions are independent of each other. These independent transactions can be executed simultaneously, allowing Sei to process up to 20,000 transactions per second. This provides faster response times for network users.

SEI Coin Overview

SEI coin is the native asset of the network and serves multiple purposes. One of these is its use in paying network fees. SEI coin holders have the option to delegate their assets to validators or stake SEI coins to run their own validators to secure the network.

SEI coin holders can participate in the future governance of the protocol. Additionally, SEI can be used as native asset liquidity or collateral for applications built on the Sei Blockchain.

In addition, users can tip validators in SEI coins to prioritize their transactions, and this tip can be shared with users who delegate to that validator. SEI coin can also be used as a fee for exchanges built on the Sei Blockchain.

How to Buy SEI Coin?

SEI coin can be securely traded on Binance, the world’s largest cryptocurrency exchange by trading volume. SEI coin was listed on Binance on August 15, 2023, and is available for trading in various pairs, including SEI/BTC, SEI/USDT, and SEI/BNB.

To purchase SEI coin, you first need to sign up on Binance (if you haven’t already). After completing the registration process, you should transfer cryptocurrency or fiat money like Turkish lira to your Binance account wallet. Once the transfer is complete, you can buy SEI coin using any of the five trading pairs mentioned above.

To buy SEI coin from the SEI/USDT trading pair on Binance, you first need to go to the interface of this trading pair. Enter the amount you wish to buy in the specified field from the limit section of the trading pair interface. After entering the amount, the purchase is completed with the Buy SEI order.