Blockchains that enable a number of transactions to be executed concurrently are seeing renewed investor curiosity.
Sei, a Layer 1 blockchain optimized for high-speed buying and selling purposes, has rallied greater than 60% over the previous two days to an all-time excessive of $0.38, giving the undertaking a market capitalization of $850M, in keeping with Coingecko.
Whereas the overall worth locked (TVL) on Sei is simply $5M, the resurgence of Solana this 12 months has prompted crypto traders to take a renewed curiosity in a brand new technology of blockchains that leverage parallel execution to supply excessive transaction speeds and quick finalization instances.
Certainly, a number of the best-performing Layer 1 tokens over the previous month are SOL, SEI and SUI, all of which permit a number of transactions to be processed concurrently. This strategy contrasts with blockchains like Bitcoin and Ethereum, which course of transactions sequentially.
Sei launched its mainnet beta in August to a lot fanfare, solely to see curiosity fizzle out after early adopters decried their miniscule airdrops, with many customers solely receiving sufficient SEI to compensate for transaction prices in utilizing the community.
Nonetheless, the undertaking has regained momentum since unveiling its V2 iteration in November, which is able to carry Ethereum compatibility to Sei.
“This permits Sei to get the very best of Solana and Ethereum – a hyper optimized execution layer that advantages from the tooling and mindshare across the EVM,” the undertaking stated on the time.
