The @SeiNetwork whitepaper came out today. There are alot of moving parts, so let's dive in 🧵 
2/ There are a seven major areas of innovation that Sei has:
- Intelligent block propagation
- Optimistic block processing
- DeliverTx Parallelization
- Endblock Parallelization
- Native price oracles
- Frequent batch auctioning
- Transaction order bundling
- Intelligent block propagation
- Optimistic block processing
- DeliverTx Parallelization
- Endblock Parallelization
- Native price oracles
- Frequent batch auctioning
- Transaction order bundling
3/ Intelligent block propagation
Sei sends transaction hashes in the block proposal, allowing blocks to get reconstructed locally by validators (by looking at their mempools) rather than waiting to receive them over the network.
Sei sends transaction hashes in the block proposal, allowing blocks to get reconstructed locally by validators (by looking at their mempools) rather than waiting to receive them over the network.
https://twitter.com/jayendra_jog/status/1573058058451927040
4/ Optimistic block processing
Rather than waiting till after voting is done to start processing a block, Sei starts processing it right when the block is received.
Rather than waiting till after voting is done to start processing a block, Sei starts processing it right when the block is received.
https://twitter.com/jayendra_jog/status/1562116407482953728
5/ DeliverTx Parallelization
Sei knows which resources different types of transactions use, and concurrently runs transactions that don't touch the same state.
Smart contract devs also list the resources that are being used, which helps ensure that transactions run in parallel
Sei knows which resources different types of transactions use, and concurrently runs transactions that don't touch the same state.
Smart contract devs also list the resources that are being used, which helps ensure that transactions run in parallel
6/ Endblock Parallelization
Orderbook related transactions are processed at the end of the block, and all independent markets are processed in parallel
Orderbook related transactions are processed at the end of the block, and all independent markets are processed in parallel
https://twitter.com/jayendra_jog/status/1560305088362528768?s=20&t=4EsdtCFr5u6wl-X71ZXQjg
7/ Native price oracles
Validators are required to submit price feeds, and bad data/nonparticipation results in the validators getting slashed
Validators are required to submit price feeds, and bad data/nonparticipation results in the validators getting slashed
8/ Frequent batch auctioning
Rather than processing orders sequentially, Sei aggregates all orders in a block together at the end of the block, and then fills them at the same price. This helps ensure price fairness and frontrunning prevention
Rather than processing orders sequentially, Sei aggregates all orders in a block together at the end of the block, and then fills them at the same price. This helps ensure price fairness and frontrunning prevention
https://twitter.com/jayendra_jog/status/1585059430202109953
9/ Transaction order bundling
Sei allows transactions to consist of multiple independent orders. This helps reduce gas costs for market makers that are submitting transactions, and improves block space usage (removes overhead tied to submitting multiple transactions)
Sei allows transactions to consist of multiple independent orders. This helps reduce gas costs for market makers that are submitting transactions, and improves block space usage (removes overhead tied to submitting multiple transactions)
10/ To recap, Sei is an L1 that is optimized for trading. It makes use of novel approaches for block propagation, block processing, parallelization, and has a native order matching engine that helps exchanges scale.
The full whitepaper can be found at github.com/sei-protocol/s…
The full whitepaper can be found at github.com/sei-protocol/s…
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