Solana Competitor SEI Network Surges Over 110%
A blockchain project, The Sei Network (SEI), which positions itself as a competitor to Solana (SOL), has experienced a remarkable surge in value following an investment from stablecoin issuer Circle (USDC).
After the announcement from Circle, SEI reached a peak of $0.250, marking a substantial increase of over 110% from its value of $0.118 recorded on November 10th.
Circle’s decision to invest in the SEI network is aimed at broadening the use cases for USDC, its dollar-pegged digital asset.
While SEI has slightly retraced, it is currently trading at $0.239 at the time of writing.
SEI Network’s Design and Purpose
SEI emphasizes that its design is tailored to address the primary use case of cryptocurrency – the exchange of digital assets. The blockchain not only boasts impressive speed, with a time to finality of 390 milliseconds but also claims to be the fastest in the field.
SEI’s integration with USDC is expected to empower developers and entrepreneurs globally, providing them with the unprecedented ability to build products and conduct commerce on an open platform swiftly and cost-effectively, thanks to instantaneous transaction settlement.
“SEI is designed specifically to address the primary use case of cryptocurrency – the exchange of digital assets. This blockchain isn’t just fast; it’s the fastest, achieving 390ms time to finality and boasts unparalleled speed.”
Comparing SEI Network with Solana
According to SEI, its trading-focused blockchain network surpasses Solana in key performance metrics. SEI claims a transaction finality of 500 milliseconds, while Solana’s transaction finality stands at around 2.5 seconds. In terms of transactional throughput, SEI asserts a capability of 20,000 orders per second (ops), outperforming Solana’s capacity of 10,000 transactions per second (tps).