Sei Network is a Layer-1 created specifically for DeFi with the aim of becoming the foundational platform for the financial system of the future. To achieve this, Sei Network applies the Twin-Turbo consensus mechanism and Parallel Order Execution to handle transaction throughput of up to 20,000 with transaction finality in just 500 milliseconds.
Additionally, Sei Labs - the development team of Sei Network is currently developing version V2 with the goal of testnet in Q1/2024 and mainnet in the first half of 2024. With EVM compatibility along with the notable feature of "parallelization", Sei Labs positions Sei Network to be the first parallel EVM Layer 1 blockchain when version V2 goes mainnet.
