According to a post released on Jan. 4, Singapore-based cryptocurrency exchange MEXC announced that it would assign $20 million to support developments on Sei Network. A layer one blockchain created for trading, Sei Network’s mentioned functions consist of native order matching, frontrunning protection, smart block propagation, and 600 milisecond on-chain trade settlement. Leo Zhao, investment supervisor of MEXC Ventures, commented:

“AMM [Automated Market Makers] was the dominant market-making method in crypto for the past 2 years. The lack of a more efficient market-making technique is in big part because of technology constraints like low speed and smart-contract restrictions. Our company believe Sei’s customized Layer 1 solution will be a video game changer in the industry.”

. Last August, Sei Network raised a $5 million financing round from investors such as Multicoin Capital, Coinbase Ventures, Delphi Digital, Hudson River Trading, GSR, Hypersphere, Flow Traders, and others. By then, over 20 decentralized applications had been integrating in the ecosystem. Sei declares its blockchain can process roughly 22,000 orders per second and has 250,000 testnet users. Similarly, to fulfill exchange trading specs, other decentralized solutions such as dYdX, picked to migrate its blockchain from Ethereum (ETH) to Cosmos (ATOM). Developers said Ethereum s suggest couldn’t manage its orderbook of around1,000 orders per second.

“Decentralized exchanges are also the most underserved application in crypto. They demand a special level of requirements for dependability, scalability, and speed that no other apps require. If a big exchange decreases for a couple of minutes, it’s catastrophic, but the very same downtime is far more tolerable for a lot of other application types.”

MEXC Ventures presently possesses approximately $100 million in properties under management spread throughout 300 portfolio companies. Its moms and dad MEXC exchange processed around $600 million in overall trading volume in the past 24 hours. The company is known for its continuous future items, which released in Q4 2018.