Mysql sequece

DROP TABLE IF EXISTS `sequence`;
CREATE TABLE `sequence` (
  `id` bigint(20) unsigned NOT NULL AUTO_INCREMENT,
  `seq_name` varchar(50) NOT NULL DEFAULT '',
  PRIMARY KEY (`id`),
  UNIQUE KEY `seq_name` (`seq_name`)

) ENGINE=InnoDB DEFAULT CHARSET=utf8;

DROP FUNCTION IF EXISTS `nextval`;
DELIMITER ;;
CREATE DEFINER=`root`@`localhost` FUNCTION `nextval`(seq_name varchar(50)) RETURNS int(11)
    DETERMINISTIC
BEGIN
DECLARE value INTEGER;
REPLACE INTO sequence (seq_name) VALUES (seq_name);
SELECT LAST_INSERT_ID() INTO value;
RETURN value;
END;;
DELIMITER ;