With the news that stablecoin issuer Circle (USDC) is investing in blockchain projects, Solana (SOL) competitors are suddenly soaring.
SEI Network (SEI), a new layer 1 blockchain that claims to be a faster blockchain than Solana, has reached a high of $0.250 since the Circle announcement, up more than 110% from $0.118 on November 10.
Circle said it is investing in the SEI network to expand the use cases for USDC, a digital asset pegged to the dollar.
SEI is down slightly and is trading at $0.239 at the time of writing.
said BE,
“SEI was specifically designed to address the primary use case for cryptocurrencies: digital asset exchange. This blockchain isn’t just fast. It is the fastest, achieving unparalleled speed to final completion of 390ms.
Through integration with SEI, USDC will offer developers and entrepreneurs around the world something they have never experienced before. “This means the ability to build products and commerce globally quickly and inexpensively on an open platform with instant transaction settlement.”
According to SEI, its transaction-centric blockchain network is faster than Solana, which is based on specific core data.
SEI said its blockchain has a transaction finality of 500 milliseconds, while Solana’s transaction finality is about 2.5 seconds. SEI also compares transaction throughput with Solana, saying Sei Network can process 20,000 orders per second (ops) and Solana can process 10,000 transactions per second (tps).
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