You must have "create_sequence" privileges. You must also have the "next" privilege to retrieve values from a defined sequence. For information on the "next" privilege, see Grant (privilege).
In applications, sequences use logical locks that allow multiple transactions to retrieve and update the sequence value while preventing changes to the underlying sequence definition. The logical lock is held until the end of the transaction.
The following are Create Sequence statement examples:
create sequence XYZ start with 10
create sequence XYZ increment by 10 cache 500