Sei's Mainnet Beta has been launched, aiming to boost both trading and scalability within the Web3 environment.

Sei Sei, as an open-source Layer-1 blockchain, proudly announces its mainnet has launched after a successful testnet alpha phase that facilitated over 400 million transactions and created 7.5 million unique wallets.

Currently in its beta phase, the blockchain is designed to promote widespread adoption of digital assets while being optimized for cryptocurrency trading, Web3 gaming, NFT marketplaces, and decentralized exchanges (DEX). Today, Sei's native token has also been listed on major exchanges like Binance and Coinbase.

Sei claims the title of the fastest Layer-1 blockchain, capable of achieving finality in merely 250ms, which includes a safety buffer of 100ms to maintain protocol stability. The firm also states it can handle 20,000 orders every second.

To support its rapid performance, Sei has integrated a Twin-Turbo consensus mechanism along with a sophisticated matching engine and front-running prevention tools, all designed to enhance user experiences for dApps built on its platform.

Jay Jog, the co-founder of Sei Labs, explained to Metaverse Post that the blockchain’s strategy for combating frontrunning is multifaceted and intricately woven into its architecture.

"Primarily, Sei utilizes batch auctions and order bundling. This technique groups transactions to eliminate any chance for malicious actors to rearrange them for their benefit within a block. By implementing this, Sei neutralizes the price advantages typically exploited by frontrunners,\"

said Sei Labs’s Jog.

Jog also clarified that the Twin-Turbo consensus functions like a dual-engine setup that collaboratively optimizes efficiency. Essentially, envision two powerful engines synchronizing to amplify a vehicle's speed and handling. For Sei, these \"twin engines\" enable swift transaction processing and validation, leading to faster block finality and greater transaction capacity, ensuring the network remains agile.

"Sei claims unrivaled speed, establishing itself as the fastest chain for achieving finality. With improvements from the Twin Turbo consensus and parallelization, it secures a minimal block finality time of only 300ms,\" Jog shared. \"In contrast to many blockchains that process transactions sequentially, Sei employs parallel processing, which allows for simultaneous transaction validation and thereby boosts overall throughput efficiency.\"

To address the scalability challenges faced by Web3 applications, Jog noted that Sei implements a system with multiple 'cashiers' for parallel processing, facilitating the simultaneous management of numerous transactions.

"By employing Multiple 'cashiers' (parallel processing), the network accelerates operations and ensures it can accommodate a higher transaction load without any slowdown, making it perfectly suited for the high-performance demands of Web3 applications,\" Jog told Metaverse Post.

To guarantee uninterrupted network operations, Sei has strategically distributed its nodes across twelve countries on three continents. This approach lowers the risk of power outages at a centralized data center, a common issue for networks that overlook geographical diversity in node placement.

Currently, over 200 teams are engaged in development on this Layer-1 blockchain. Among them are Astroport, Compass, Levana, Pyth, Tatami, Axelar, and others. Sushiswap's new decentralized perpetual futures exchange is also slated to launch on Sei later this year.

The company recently launched Sei has established a substantial $120 million Ecosystem Fund, receiving investments from notable Web3 venture capitalists and firms, including Foresight Ventures, Multicoin, GSR, Hudson River Trading, Flow Traders, Delphi Digital, MEXC, Hypersphere, and Kronos Research. This fund is dedicated to supporting teams that are developing applications across NFTs, gaming, and decentralized finance.

"For startups or teams seeking funding from the Sei Ecosystem Fund, it's essential to create applications or use cases that align with Sei's vision of advancing blockchain adoption,\" stated Jog. \"We are particularly interested in projects that challenge existing norms and present fresh solutions to the wider public. Teams can also pitch their concepts to our global hackathon partners who are coordinating accelerators and incubators worldwide, including locations in Silicon Valley, Tokyo, and Singapore.\"

In July, Sei announced a partnership with OnePiece Labs for an upcoming hackathon in Silicon Valley scheduled for this September. Developers eager to build on the Sei platform can apply for subsidies from the Ecosystem Fund. here .