Funding and Key Buyers
The $20 million seed spherical was led by Dragonfly. Notable angels like Vitalik Buterin, Joseph Lubin, Sreeram Kannan, Cobie, Santiago Santos, Karthik Talwar, Hasu, and Mert Mumtaz additionally participated.
The Want for MegaETH
Present blockchains wrestle to deal with the rising demand for decentralized functions. Excessive throughput blockchains like Solana typically face congestion and reliability points. Ethereum Layer-2 options, whereas straightforward to develop, should not optimized for efficiency and have person limitations.
Folks need to use stablecoins, guess on world occasions, and submit content material on-chain, however present blockchains fail to offer a dependable and quick expertise. Think about only one,000 folks having the ability to use TikTok directly, or Venmo transactions failing half the time. That is just like the irritating expertise of utilizing decentralized applications in the present day.
MegaETH’s Actual-Time Efficiency
By offering 100,000 transactions per second with millisecond-level responsiveness, MegaETH seeks to deal with these issues. This real-time efficiency permits on-chain functions to match the person expertise of prime web2 apps whereas sustaining decentralization.
Key Methods for Efficiency
MegaETH’s efficiency is achieved via two key strategies:
- Heterogeneous Blockchain Structure: Totally different community nodes specialise in particular duties primarily based on their {hardware} configurations. This boosts efficiency.
- Hyper-Optimized EVM Execution Surroundings: This atmosphere maximizes throughput, latency, and useful resource effectivity, using {hardware} limits.
These strategies differ from in the present day’s homogenous architectures, which use lower than 1% of a contemporary Web2 server’s compute capability.
CEO’s Imaginative and prescient
Yilong Li, CEO and Co-Founding father of MegaLabs, said, “Our mission is to deliver Web2-level real-time efficiency to crypto. By leveraging Ethereum’s safety and censorship resistance, we are able to create the quickest execution layer and state synchronization community attainable with out compromising blockchain values. Our holistic R&D strategy addresses all potential bottlenecks pragmatically.”
Trade Impression
Tom Schmidt, GP at Dragonfly, stated, “MegaETH is the iPhone second for crypto: a platform that makes every thing earlier than it seems outdated. Present blockchains fail underneath mass adoption.
You possibly can’t construct monetary infrastructure for the world by patching decade-old software program. MegaETH lets builders construct functions that really feel like fashionable software program whereas sustaining blockchain values: permissionlessness, transparency, safety, and reliability. We’re excited to again MegaETH and see what folks construct on it.”
Distinctive Use Circumstances
Shuyao Kong, CBO and Co-Founding father of MegaLabs, added, “MegaETH powers distinctive use instances like compute-intensive DeFi, absolutely on-chain video games, immediate fee networks with negligible charges, scalable social networks, and DePIN initiatives bringing Web2 information on-chain.”
MegaETH Public Testnet and MegaMafia Program
The MegaETH public testnet will launch in early fall, enabling builders to harness its efficiency and create unprecedented functions. MegaLabs has additionally launched the MegaMafia, a 10x builder program for founders exploring the frontier of decentralized functions. This program invitations builders to create pleasant, progressive functions in collaboration with the MegaLabs core staff.
Key Takeaways
Characteristic |
Particulars |
Seed Spherical Funding |
$20 million led by Dragonfly |
Key Buyers |
Figment Capital, Folius Ventures, Robotic Ventures |
Notable Angel Buyers |
Vitalik Buterin, Joseph Lubin, Sreeram Kannan |
Efficiency |
100,000 transactions per second, millisecond response |
Key Methods |
Heterogeneous structure, hyper-optimized EVM |
CEO’s Imaginative and prescient |
Web2-level real-time efficiency for crypto |
Trade Impression |
First-class fashionable software program expertise for DApps |
Distinctive Use Circumstances |
Compute-intensive DeFi, on-chain video games, immediate funds |
Public Testnet Launch |
Early fall |
MegaMafia Program |
10x builder program for progressive DApp founders |
MegaETH guarantees to remodel the blockchain panorama, providing real-time efficiency and scalability, and enabling a brand new period of decentralized functions.