Cryptocurrency

Osmosis making enhancements to order book specific layer one network, Sei

Zegex

Penetration announced Powering Sei Network, the first orderbook-specific Layer 1 blockchain, to optimize on-chain orderbook activity and trading via a Twitter thread published on October 31st.

Osmosis is a DEX protocol that leverages smart contracts to set the price of crypto assets in liquidity pools and conduct precise transactions between users.

The Sei Network enables decentralized applications to deploy their own Central Limit Order Form (CLOB), featuring bid and offer matching that occurs both decentralized and on-chain. SeiNetwork is compatible with Inter-Blockchain Communication (IBC), so all dapps built on Cosmos will be able to leverage its IBC capabilities to create new products, from live sports and betting to options and futures. Allows for the emergence of types of creative financial instruments.

In contrast to most L1 blockchains such as general-purpose Ethereum, Avlance, Solana, or app-specific Osmosis and DYDX, Sei Network is differentiated as a use-case-specific permissioned blockchain.

Unauthorized Nature of CLOB Modules and Sei

This means that dapps can customize their network by including built-in CLOB modules, but due to the nature of the permission, proposals must be reviewed and approved before application deployment. CLOBs allow dapps to benefit from fast execution and a shared liquidity model, while permissionless subjects maximize dapp compatibility and eliminate factors that impact core protocol performance.

twin turbo consensus

The announcement also includes two enhancements from Sei Network: Intelligent Block Propagation and Optimistic Block Processing.

Intelligent block propagation reduces transaction processing time by equipping validators with all relevant transaction hashes instead of waiting for hashes and blocks to be relayed to other validators. This optimizes the whole thing by 40%.

Optimistic block processing allows processing blocks at arbitrary heights, including pre-voting and pre-commit operations. This reduces latency and increases throughput by 33%.

frequent batch auctions

Additionally, transactions are aggregated in batches at the end of each block and processed concurrently to enforce a uniform liquidation price. This prevents malicious actors from running the front, which involves buying assets and selling them at a higher price, by intercepting users as they initiate transactions to purchase assets. while being able to extract the maximum extractable value (MEV).

Sei’s dapp community and supporters

Sei launched the $50 million Sei Ecosystem and Liquidity Fund to support the Sei Ecosystem team and bootstrap liquidity into the app launching on the network on September 28th.

In a Twitter thread, Sei announced several dapps embedded in its ecosystem, including a DEX derivatives exchange, the Vortex protocol, a synthetic protocol for price exposure, the Pharaoh protocol, and cross-chain communication provider Axelar Network. .

Sei is also backed by venture capital firms, market makers and exchanges such as Multicoin Capital, Delphi Digital, Hudson River Traders, MEXC, Kronos and Hypersphere.

Posted In: Introduction, DeFi

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