Key Highlights
- In the official announcement, Sei Network revealed the onboarding of Binance
- As a validator, Binance will come with globally recognized standards for operational excellence of the Sei blockchain
- The layer-1 has raised support from big institutions like BlackRock and Brevan Howard
The leading cryptocurrency exchange, Binance, has now officially become a Sei Network validator, which is a layer-1 blockchain network.
(Source: Sei Network on X)
Binance’s arrival on Sei Network as a validator will bring confidence in its user base, which currently supports over 70 million wallets, processing 4.5 million daily transactions, with peak TVL reaching over $680 million.
“Binance’s participation affirms confidence in Sei’s trajectory, aligning a leading global financial enterprise with Sei’s mission to power the world’s fastest, most reliable blockchain infrastructure,” stated in the official announcement.
Binance’s Role as Validator on Sei Network
One can think of a validator on the Sei Network as a trusted guard who helps keep the whole blockchain safe and running smoothly. On the other hand, the Sei Network is a big digital ledger where people record trades and transactions with SEI tokens.
The main job of a validator is to team up with others to create and approve new “blocks.” These blocks hold the record of transactions on the blockchain network.
Sei uses a mechanism known as delegated proof-of-stake (DPoS), so not everyone can be a validator. You need to “stake” a bunch of SEI tokens as a promise to behave well, similar to a deposit in traditional finance.
The selected validator then proposes a new block of transactions, and all validators vote on its validity. If a majority agrees on the proposed block that it is correct, it is permanently added to the chain. With this mechanism, Sei finalizes transactions in just a few seconds.
Once the block is added to the network, validators earn rewards in return for their staked tokens.
“Today, that foundation grows even stronger as Binance joins a growing ecosystem of enterprise-grade partners on the Sei Network. This level of institutional adoption is possible because of Sei’s unmatched performance and reliability. As a validator, Binance brings its world-class operational rigor and security expertise to the network, aligning with the high standards of Sei’s existing validator set,” stated in the official announcement.
Sei Network Expands its Ecosystem with New Collaboration
The recent listing of Sei Network’s SEI token on the Robinhood trading platform has sparked excitement in the community. This integration comes while the crypto market is facing major turbulence.
Sei Network is rapidly growing with institutional backing. The project has secured support from major financial firms like BlackRock and Brevan Howard. This support provides it with much-needed credibility and stability.
This established base has sparked the expansion of a major institutional presence on the network. Leading financial institutions, including BlackRock, Brevan Howard, Hamilton Lane, and Apollo, are now actively operating tokenized funds on the platform.
This growth is enabled and supported by critical infrastructure partnerships with prominent names such as Circle, MetaMask, Securitize, KAIO, Etherscan, and Ondo.
The Sei Network holds the tag of the fastest Ethereum Virtual Machine (EVM) blockchain, which achieves transaction finality in just 400 milliseconds. This impressive speed allows the development of applications that require real-time interactions.
This performance is expected to be enhanced with the forthcoming “Giga” upgrade. The upgrade targets a throughput of 5 gigagas per second, a technical achievement that translates a the ability to process approximately 200,000 transactions every second.
