New Blockchain 2X Faster than Solana ($SEI)

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Blockchains hold the potential to completely change the internet as we know it but if we’re going to reach Mass adoption of blockchain Technology then we must solve one the most notorious issues that plagues all blockchains and that’s scalability see one of the biggest complaints about blockchains

Like ethereum is that it’s too slow for widespread adoption and we see many alternative layer one blockchains come onto the scene to try to fix this like salana Aptos s binance smart chain Avalanche and so many more and in this video I want to talk about yet another alternative layer one blockchain coming

Out of the scene that claims to be the fastest layer one blockchain in the entire world even two times faster than salana it started to make a big buzz inside the crypto space and it’s presented a lot of insane opportunities popping up including some four developers which I’ll talk about in this

Video so I’m going to tell you everything you need to understand in this video today as a blockchain developer myself who works this technology on a daily basis so if you’re new around here hey I’m Gregory and on this channel I turn you into a blockchain master so if that’s something

That you’re interested in then smash that like button but down below for the YouTube algorithm And subscribe to this Channel and if you want to capitalize on the massive crypto explosion that’s heating up right now then I can try to become a blockchain master stepbystep start to finish over at dap university.com booot

Camp all right so let’s get into this let’s talk about this new layer one blockchain that claims to be the fastest on the planet so what is it well it’s the say blockchain so it is an alternative layer one which basically means it’s its own distinct blockchain completely separate from something like

Ethereum salana binance smart chain or anything like that okay it’s got its own native gas token uh its own cryptocurrency called the SE token which at the time recording this video in the last 90 days it’s almost tenex in price off of the lows it’s a project with some

Impressive backers like coinbase jump multicoin Capital Deli digital and so many more and they literally describe themselves on their website as the fastest layer one blockchain designed to scale the industry so they can enable mass adoption of digital assets so a quick overview of the stats that are

Reported here on the website are that it processes 20,000 uh transactions per second they call it orders per second we’ll see why in a minute uh 380 millisecond transaction finality okay and if you compare that with other blockchains like you see in this table down here uh you know they’re 20,000 transactions per

Second versus salana 10,000 transactions per seconds so that’s twice as fast and again I believe this is with the original salana client here so transaction finality 380 millisecond versus lest 2 and half seconds and if you compare that to a layer one ethereum not including layer twos I’ll talk about

Layer twos here in a minute uh roughly 20 transaction per second on ethereum and six-minute transaction finality so a massive advertised scalability benefit so let’s dig into each of these things one by one and kind of talk about how this works so let’s start off with the

Whole idea of scalability because like I said at the beginning this video one of blockchain’s biggest problems that they’re kind of slow okay and we actually have to fix this in order for blockchain to be ready for prime time we want a blockchain that supports a high

Number of users doing lots of things all at the same time so this really comes down to transactions per second and then also uh transaction finality so what is that well basically transactions per second is if you have all these transactions coming at the same time how

Many can it actually process in a one second window and then transaction finalities when you have that batch how long does it actually take for each one to be permanently recorded on chain and so these are two big variables that essentially form a body neck okay for scaling blockchains and that’s one of

The reasons you hear that you know ethereum you hear the complaint that it’s too slow for everyday people to use okay that’s because it has a relatively low number of transactions per second and a relatively long block time which affects the transaction finality takes a long time for the transactions to get

Included into a block now I that’s a feature not a bug in terms of ethereum and you know ethereum’s long-term road map is scaling with layer twos I’m not going to get into that in depth in this video I’ve got plenty of videos on my channel talking about that but that’s

Why you you have all these other alternative layer ones like salana binance smart chain Avalanche monad uh now say coming out of the scene to implement different ways to try to increase uh the throughput of the blockchains to improve the transactions per second and also the transaction

Finality and they all take a slightly different approach to scaling and so let’s take a look at exactly how SE plans to do that but one of the biggest ways is with this part right here on their features table uh it says processing style parallelized okay you

Can see that compared to like you know Salon is parallelized but ethereum and Bitcoin are also sequential so what does that mean well let’s talk about parallel uh processing in computer science this is a really basic term you don’t really have to be a computer science you know

Wizard to understand this but basically uh with blockchains like ethereum they process one transaction at a time so if I’m going to send cryptocurrency from my account to yours and then somebody else is going to send a cryptocurrency to somebody else’s account okay it’s going to process mine first and then theirs

Okay if they submit their trans transaction after me or paid a lower gas fee so it said another way if I’m trading a token on a DEX and I make my trade someone else has to go behind me if they didn’t pay a higher gas fee or

They did it after now that’s you know serial uh one by one transaction processing now what about parallel well that’s basically processing multiple transactions at a time so you can see that right here basically if lots of people trying to use the blockchain at a time it’ll just kind of treat them all

Independently of one another process them at the same time and then those will get included into a block and that’s one way that you can scale things you don’t have to wait for one thing to go and then the next thing and the next

Thing you can do all at the same time in order to increase the number of transactions per second all right so that’s the whole idea is basically increasing the number of transactions and go through with parallel processing all right salana already does this but say advertises to do it twice as fast as

Salana does you know hence making it the fastest layer one blockchain on the face of the planet okay now another thing that se has going for that salana doesn’t is that they are moving everything to becoming evm compatible so what does that mean well basically you know evm just stands for ethereum

Virtual machine so that is essentially what ethereum runs so if you can write programs for ethereum and you have these other blockchains like uh Tron binance smart chain uh you know Avalanche they are also evm compatible so if you can write smart contracts for ethereum Without Really any code changes you can

Put those same apps on other blockchains that are even compatible and that is se’s plan so what are some of the big benefits to this well if you already have an existing ethereum app you could just Port it over to say all right and then you have a blockchain with Rich

Network effect with apps because the last thing you want to do is get on a new blockchain and have nothing to do okay that’s one of the things that makes blockchains valuable is when you can actually you know perform tasks on them and so if you have something that’s very

Compatible with other chains and you can just launch new apps on it really quickly that’s a recipe for a new technology to come out the gate and really gain a lot of traction you know pretty much overnight rather than having some proprietary programming language where developers have to go learn this

Stuff and rebuild their apps okay it could take a long time for that to catch up and so that being said you know this whole idea of a parallel eyes ethereum virtual machine um is not live just yet okay so that’s going to be a part of sa

Version two okay which you can see in their announcement here is supposed to go live in the first half of 2024 all right so let’s look at some other quick technical attributes of say so that you can understand what sets it apart from other chains so one is that this is

Designed to be really niche purpose-built blockchain for financial use cases okay I mean most blockchains really are doing that in the first place but this basically started out as scaling exchanges and then they kind of generalized to being uh an alternative layer one uh blockchain so it’s based on

The cosmos ecosystem uh with the cosmos SDK uh the consensus mechanism is going to be you know proof of stake okay so people love having a cryptocurrency they can stake in are in passive income it also has built-in front running protection uh to help things like front running attacks and also sandwich

Attacks all right now at the beginning this video I talked about some big opportunities coming down the pike with a new blockchain like say now anytime a new layer one pops up like this there’s almost always big opportunities that present themselves now before I talk about any of these I’m not making

Anything in this video to be Financial advice okay anytime you use new technology uh there’s always risks associated with this so with that disclaimer out of the way uh let’s first talk about you know the say token itself so again this is something that’s nearly

Gone up 10x in price uh in the last days off of the lows a lot of times you know when you have these new hot networks come out of the scene especially in a bull market with no big past prior you know price performance that you can

Watch the token dump if it looks like it’s growing from nothing that can often generate some big momentum in a bull market uh especially if you have a technology that claims to be very fast and a competitor we saw this you know in past bull runs with new layer ones that

Hit the scene and it looks like history is repeating itself we’re also going to see different tokens launch okay associated with these Networks we’ve seen uh the uh cyana I guess that’s how I’m saying that uh meme coin launched based off the SE Network okay that did

400% in the last week alone we’re going to see other stuff happen like this like new Dex launches it’s just kind of one of those things to expect inside of crypto so on top of that I would also expect there’s going to be many airdrops available on the say Network okay this

Happens anytime there’s a new ecosystem because you have all these new apps that launch okay people want to be the first to Market uh on these ecosystems and the playbook for dropping a new crypto is to do an airdrop so basically that’s when you have early adopters new technology

That get on the blockchain start making transactions they use the applications then you know whenever those projects launch their tokens they just give them away to the early adopters of the new technology and so you can see the ecosystem here there’s all different types of apps that you can look at that

Are either live now or going to be live which you could do some air drop hunting on to get yourself in position for one of these and again I don’t know who’s going to do it or how much it’s going to be but this is definitely resource you

Can check out for that and also at the beginning of this video I talked about how there’s going to be some opportunities for developers in this space and that’s why I want to talk about now uh the $120 million say ecosystem fund so again anytime you have

A new uh blockchain like this with basically nothing on top of it it has to be colonized okay and there’s always de opportunities for developers to come in and you know Port applications over to say and there’s a lot of incentive now because they have $120 million ecosystem

Fund set of side to incentivize developers to actually build upon this technology you can uh check that out and apply for it uh right here so it looks like the type fors mood the time recording this video but I’m sure you can go back and check on this link on

Their website and they will update this we saw this in the past with salana they had a huge ecosystem fund lots of developers uh made a pretty handsome rewards for launching applications especially in a bull market all right so finally I’ll give you some of my thoughts on this particular technology

Okay so you know this video is not a sponsor video I just make these videos whenever this new stuff pops up because people are talking about like crazy I’m an educator and I want you to know about it uh and also know my honest unfiltered thoughts about these types of things so

You know in terms of what they’re trying to do here uh the thing that really has to be proven out in my view is this parallelization of transactions okay because nobody’s really successfully cracked this to my satisfaction just yet okay so some people say that sequential or linear execution in blockchain is a

Feature not a bug like how ethereum does things in many cases you need to process transaction in sequence one by one especially when you’re dealing with financial technology because it’s it’s an accounting thing okay you’re talking about a ledger and that ledger needs to be updated you know one by one so that

Like if I go send a cryptocurrency and then someone else is doing it we’re not seeing you know balances change that really comes down more to uh like Dex trading for example if you got lots of people are trying to trade the same currency at the same time like we need

To know who’s getting in first I haven’t really seen that you know cracked to my liking just yet so that’s the thing that has to be proven out here uh I’m not saying that they haven’t done that okay we’ll just have to kind of wait and see

What that looks like the other big thing here is when you are improving the scalability of a blockchain like this um you always have to take into account the resources that’s going to take to run validators okay because that can produce a centralization risks in the network

Themselves so one of the big benefits of blockchains is decentralization Right a network that’s distributed across the world with lots of people who are not coordinating with one another necessarily but have Financial incentives to run the network themselves and you know if it was as easy as just

Like you know increasing the block size of every blockchain we could do that all right and make every blockchain super fast but what would happen is you know it would be really expensive to maintain that ledger so for example we can make ethereum you know 100,000 transactions

Per second now if we just said okay we’re magically just going to let that you know happen but you would basically need a supercomputer in order to process that and that super computer will be so expensive that like nobody body’s going to be able to actually afford the

Hardware cost in order to do that so we’ll closely monitor the situation here to see if we need exorbitant uh Hardware cost in order to run these types of blockchains and whether that’s going to actually have sufficiently decentralized operations here so those are my only two

Things that I want to see uh whether those can be truly cracked in this situation there’s other competitors uh I made a video about monad a couple months ago talking about this same type of strategy I’m not by any means writing any of this off I just want to wait and

See what happens with their execution here so the question is will say be the one you let me know in the comment section below will it actually be the fastest layer one blockchain of all time will it actually outperform these other ones and once you finish leaving your

Comment make sure you smash that like button down below for the YouTube algorthm subscribe to this channel if you haven’t already I’ll be releasing more videos just like this keeping you up to date with the hottest technology that’s coming out especially as we enter into this new crypto phase and if you

Want to gete of this next crypto explosion that’s happening right now the best way to do that is to Double Down your technical skills and become a blockchain developer and actually get inside the space because that’s where all the opportunities are all right and I can show to do that step bystep start

To finish over at dap university.com booot Camp you really don’t to be expert to get started today I felt people with zero coding experience become real world blockchain developers in a matter of months so that’s all I’ve got till next time thanks for watching dap University