Unveiling Sei Blockchain's Rapid Transactions

This dashboard presents an analysis of Sei transaction speed and success rates, comparing these metrics to Solana and Near.

preface

Recently, the official Sei network Twitter account announced Circle Venture's investment in Sei, hailing it as 'The fastest layer 1 blockchain'. They've also added 'The Fastest Layer 1' to their account bio.

This dashboard aims to verify the validity of this claim and glean insights into Sei's transaction speed.

Join me in exploring Sei's transaction speed-transactions per hour, per minute, and per second-tracking these metrics over time and comparing them to Solana and Near blockchains.

Before diving into the analysis, let's explore the essence of the Sei blockchain and delve into its key properties and essential characteristics.

What is Sei?

Sei blockchain is a high-performance decentralized network designed to prioritize speed and scalability in processing transactions.

Key features:

Transaction Speed: Sei boasts rapid transaction processing capabilities, aiming for high throughput with a focus on achieving impressive transactions per second (TPS).
Scalability: Designed to handle increasing network demands, Sei emphasizes scalability to accommodate a growing user base and transaction volume without compromising speed.
Efficiency: The blockchain is engineered to optimize resource usage, ensuring efficient operations without compromising on security or decentralization.
Consensus Mechanism: Leveraging a robust consensus mechanism, Sei ensures secure and reliable validation of transactions, maintaining the integrity of the network.
Interoperability: Sei aims for interoperability, fostering connections and compatibility with other blockchains, enhancing its utility and versatility within the broader crypto ecosystem.

Approach

To conduct this analysis, I utilized the fact_transactions table, tallying transactions on a daily basis. I then divided the total transactions by 24 to derive transactions per hour (TPH), by 24 * 60 for transactions per minute (TPM), and by 24 * 60 * 60 for transactions per second (TPS).

Subsequently, I computed these metrics as daily averages and tracked them over time.

Finally, I compared these metrics to those of Solana and Near for a comprehensive analysis.

Follow me on Twitter (X) @wolffAtTheDoor for more intriguing dashboards like this one, diving into data landscapes and uncovering trends! Let's explore the world of analytics together! 📊✨

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