Sei Network Technical Features and Ecological Development Analysis

Sei Network, as a high-performance Layer 1 blockchain focused on trading, began to attract market attention a few months after launching its mainnet. Its token price has continued to rise, reaching an all-time high, while liquid staking and total value locked in the network have also seen significant growth.

Technical Features of Sei

Sei, as a Layer 1 supporting order book trading, provides a built-in Central Limit Order Book (CLOB) module. Developers can quickly build trading applications for spot, derivatives, options, and more using this module. Sei enhances the processing speed of the blockchain network through the following technologies:

1. Local hash construction: Validators can send blocks to the network that only contain transaction hashes, and other validators construct the blocks based on records in the local memory pool, improving efficiency.

2. Parallel Transaction Processing: Sei allows validators to process pre-vote and pre-commit stages of blocks in parallel, reducing latency and increasing throughput. For non-related transactions, Sei uses Golang's goroutines for parallel processing.

Parallel EVM

Parallel EVM is a highly regarded concept aimed at increasing the processing speed and network throughput of EVM. Sei plans to implement parallel EVM in the upcoming V2 version, supporting the operation and interaction of Cosmwasm and EVM smart contracts.

The main features of the Sei V2 upgrade include:

1. Optimistic parallelization: Allows concurrent transaction processing, improving throughput and efficiency.
2. EVM Compatibility: Supports the deployment of existing EVM smart contracts without the need to modify the code.
3. Geth compatibility: Sei nodes will integrate Geth to handle EVM smart contract transactions.
4. SeiDB: Improved storage layer, enhancing read and write performance and scalability.
5. Performance Improvement: Expected to achieve a block time of 390 milliseconds and a throughput of 28,300 batch transactions per second.

Sei Contract Security Recommendations

For developers planning to build applications in the Sei ecosystem, it is recommended to follow the security practices below:

1. Build upgradeable smart contracts and develop risk response plans.
2. Pay attention to the deserialization characteristics of the addr type and perform validation.
3. Use the Uint256 and Uint512 types of CosmWasm to avoid integer overflow.
4. Prevent infinite loops in the ACK handler.

Sei Ecosystem Overview

1. Wallets: Multiple wallets support the Sei network, including dedicated wallets like Compass Wallet and Fin Wallet, as well as compatible wallets like OKX Wallet and Keplr.

2. Kryptonite: The largest liquidity staking protocol in the Sei ecosystem, offering staking services for Sei tokens and LP tokens.

3. YakaFinance: Committed to building a multifunctional DEX, providing trading, liquidity mining, Launchpad, and other DeFi services.

4. PalletExchange: The NFT trading platform of the Sei ecosystem, with a daily trading volume reaching up to approximately $1 million.

Summary

Sei Network improves the processing speed of blockchain networks through technological innovation, and its ecosystem is rapidly developing. With the implementation of parallel EVM and the upgrade to version V2, Sei is expected to attract more developers and users, further expanding its influence in the high-performance Layer 1 space. However, users and developers still need to be aware of related security risks and liquidity risks when participating in the Sei ecosystem.