What is Sei (SEI)? How to Buy SEI Tokens in India?

What is Sei (SEI)?

With the rising popularity of crypto investments, decentralized applications, and NFTs, the necessity for an efficient and high-performance blockchain cannot be overstated. But, nailing the three main pillars or trilemma: decentralization, security, and scalability has been one of the major challenges faced in blockchains. The existing set of layer1 infrastructure falls short on high speed and quick confirmations, putting a constraint on the scalability and possibilities for dApps and DEXs. That’s where Sei steps in, tackling this challenge head-on.

Sei is an open-source layer1 specifically designed with unparalleled speed and efficiency to serve general purposes, including the exchange of digital assets.  It claims to be the fastest chain, offering a lightning-fast transaction finality of 500ms and a throughput of 20,000 orders per second. SEI is a native token of the Sei network that serves multiple functions like network fees, staking, collateral, trading fees, and protocol governance.

Who are the Founders of Sei?

Sei mainnet went live earlier this week on 16 August with a $1 billion SEI tokens airdrop for its testnet participant. It was co-founded and built by Jayendra Jog, Jeffrey Feng, and a highly experienced team of marketers, developers, strategists, etc. Sei’s investors include Multicoin Capital, Delphi Digital, Coinbase, Layer Zero, and more.

How does Sei (SEI) work?

Sei is built with Cosmos SDK and utilizes Twin Turbo Consensus to create a highly scalable and efficient ecosystem for decentralized applications. Let’s see what challenges Sei is addressing and its features:

• Front Running Prevention: Front-running occurs when a trader exploits advanced knowledge of pending transactions to their advantage, negatively impacting other traders. Sei prevents front-running issues with its frequent batch auctioning. Instead of processing orders one by one, Sei aggregates orders at the end of each block. These orders are then executed simultaneously, minimizing the risk of front-running. 
• Native Price Oracles: Typical trading platforms rely on external sources for data-price feeds, any fault in these servers can introduce security concerns for user data and funds. Sei removes external sources and utilizes native price oracles to provide reliable and accurate data feeds for trading. 
• Single-Block Order and Bundling Execution: Sei combines both order placement and execution within a single-block transaction, which optimizes efficiency and reduces the complexity of the trading process. It also enables order bundles on multiple levels, helping traders and market makers reduce the overall fees incurred during trading.

What makes SEI Unique Use Cases?

• One of the key features of Sei is its sector-specific design for trading and exchange of assets, which makes it a go-to platform for DEXs and other applications.
• SEI holders can stake their tokens or delegate them to other validators to run validator nodes and secure the network.
• Some applications of the Sei ecosystem are Pyth, Axelar, Astroport, Compass, Double Jump, Tatami, etc.

Sei (SEI) Price Analysis

• SEI price today is trading at $0.1913, with a 24-hour trading volume of $1.12 billion. In the last 24 hours, The SEI price has dropped by 30%, and its market cap is $344.26 million as of August 17, 2023.
• SEI price has captured significant interest of traders and surged more than 2200% from its listing price. Overall, the Sei project appears promising and has the potential for substantial growth, but one should always research before investing in the crypto market.

How to Buy SEI Coins in India?

To buy SEI Coin in India, just follow the below mentioned steps:

• Download the Bitcoin and Crypto App
• Enter the details for registration.
• Complete KYC
• Once your profile is verified, add funds and buy SEI Coins.