Experience Sei With Bitget Wallet!

2024-01-04

Experience Sei With Bitget Wallet!  image 0

Sei emerges as a groundbreaking Layer 1 blockchain built on the Cosmos SDK designed to revolutionize digital asset exchanges, addressing critical challenges of decentralization, scalability, and efficiency. According to data from DeFiLama, Sei's total value locked (TVL) stands at $10.3 million as at the time of writing compared to a mere $3.28 million as of December 1 2023.

Amidst the bullish sentiment for Sei, we take a closer look at how Sei works, its tokenomics, as well as its various features.

What is Sei?

Sei Network stands out for its cutting-edge features tailored explicitly for digital asset exchange across diverse applications encompassing DeFi, gaming, social media, and NFTs. At its core lies an unparalleled speed achieved through advanced consensus mechanisms, making it a versatile and efficient platform for digital transactions.

The cornerstone of Sei's innovation lies in its adept handling of the Exchange Trilemma, skillfully balancing decentralization, scalability, and capital efficiency. This intricate equilibrium is maintained through a trading-centric architecture, positioning Sei as pivotal infrastructure for Web3 applications and digital asset exchanges.

A standout feature distinguishing Sei from its counterparts is its parallelized Ethereum Virtual Machine (EVM), enabling high throughput and rapid finality. This capability, coupled with its twin-turbo consensus and market-based parallelization, positions Sei as the platform of choice for developers and users seeking a swift, secure, and scalable blockchain for digital asset transactions.

Sei V2

Upon its anticipated launch in Q1 2024, Sei V2 is poised to introduce a parallelized Ethereum Virtual Machine (EVM), sparking excitement among developers. This innovation is seen as a fusion of the finest elements from Solana and Ethereum, potentially catalyzing Sei's adoption and propelling SEI prices upward. With the impending integration of Sei V2, the Sei Network is set to undergo three significant upgrades, signifying a remarkable transformation.

Among these upgrades, one key improvement is the planned EVM support, aligning the Sei Network's compatibility with Ethereum. Sei endeavors to leverage Ethereum's widespread popularity, particularly among developers, tools, and wallets. Jog emphasizes the goal of seamless integration without any compatibility issues. Upon the V2 launch, Sei users will seamlessly connect to the mainnet using established Ethereum and EVM-compatible wallets like MetaMask.

Another standout feature of Sei V2 would be the implementation of Optimistic Parallelization. This enhancement provides developers with greater flexibility, eliminating the necessity of defining transaction dependencies. According to Sei developers, this approach will enable the blockchain to autonomously manage parallelization, resulting in more efficient and cost-effective transaction processing.

In a bid to enhance full node efficiency and address state bloat, Sei V2 will also introduce SeiDB, a novel storage method. The introduction of this update is anticipated to fortify the resilience of the Sei Network while elevating its overall performance.

Sei V2 is currently undergoing reliability audits. However, its impending launch is sending positive sentiments towards Sei community members as well as the broader Web3 community, playing a key role in the network's sudden market surge.

The SEI Token and its Utility

The Sei blockchain operates using SEI tokens, serving pivotal roles within the network's ecosystem. SEI tokens facilitate network operations, incentivize participation, support governance, and act as native collateral for applications on the Sei blockchain. They are utilized for blockchain operations such as paying for network and transaction fees, validator staking, governance tokens, and native collateral to support DApps on the Sei blockchain.

With a total supply capped at 10 billion tokens, SEI's distribution prioritizes community involvement and ecosystem development, fostering stability and growth within the Sei network.

Bitget Wallet: Your Ideal Sei Wallet Sei Wallet

A Sei Wallet, compliant with the Sei token standard, is designed for storing SEI tokens. Bitget Wallet, a leading multi-chain decentralized crypto wallet, is compliant with the Sei token standard and is an indispensible tool for managing your SEI tokens. It enables users to effortlessly manage, store, view balances, and execute transactions. Additionally, the wallet also offers multi-currency support, real-time market information, and decentralized exchange capabilities, making it a favored choice among SEI token holders.

In this segment, we will be taking a closer look at the various functions offered by Bitget Wallet to support your Sei assets.

Adding the Sei Mainnet to your Bitget Wallet

With Bitget Wallet, connecting to the Sei mainnet has never been more straightforward. To connect to the Sei mainnet, simply follow the steps below.

Step 1: Tap on "All Mainnets" on your Bitget Wallet homepage.

Step 2: Type in "Sei" in the searchbar and tap on the "+" sign next to the search result.

Step 3: Proceed with the on-screen verification and return back to your homepage. Your default network should now be set to Sei, and your SEI tokens should be automatically displayed.

Purchasing SEI Using Bitget Wallet

Need to top up SEI? Bitget Wallet offers a hassle-free OTC on-ramp option to purchase SEI tokens using fiat currency. To make OTC purchases for SEI, please follow the steps below.

Step 1: Tap on "Buy" on your Bitget Wallet homepage, and select "Buy crypto" to proceed with the OTC function.

Step 2: Key in the relevant token information including quantum, and ensure that you have selected "SEI" as the receiving token.

Step 3: Select your preferred payment channel. Do note that payment channels may vary across regions. Confirm your payment channel and head over to the payment portal to complete your OTC transaction.

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Receiving SEI

If you already have SEI from another wallet or platform that you wish to transfer over to your Bitget Wallet, you may easily do so by tapping on "Recieve" on your Bitget Wallet homepage. Ensure that your default mainnet has been set to Sei. Copy that address or scan the QR code using a separate device to obtain your receiving address and enter the information into your transferring platform to make the transfer. Do take note that this address only supports the receiving of SEI assets.

Closing

Sei stands at the forefront of blockchain innovation, empowering digital asset exchanges with its advanced technological prowess, unparalleled speed, and efficient transaction capabilities. As Sei continues to evolve and expand its ecosystem, its innovative solutions and community-driven approach promise an exciting future for digital asset exchange and the broader Web3 landscape.

 

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