Achieving 10,000 TPS, Monad's devnet launch marks a new era in blockchain scalability and efficiency, promising to revolutionize Ethereum-compatible applications.
In the rapidly evolving world of blockchain technology, a new player, Monad, has emerged with promising advancements in scalability and efficiency. Monad, an Ethereum-compatible Layer 1 blockchain, has recently made headlines by launching its development network (devnet) after achieving a remarkable milestone of 10,000 transactions per second (TPS) in internal testing. This development is a significant step forward in addressing the scalability issues faced by Ethereum and other blockchain networks.
Monad's achievement of 10,000 TPS in testing is not just a number—it represents a leap towards making blockchain technology more practical and scalable for widespread use. Compared to Ethereum's current capacity, which handles roughly 30 TPS, Monad's performance showcases the potential for significantly higher throughput. This increased capacity is achieved through a one-second block time, which is a considerable improvement over Ethereum's current block time.
At the core of Monad's success is its innovative architecture, which is designed to optimize Ethereum's functionality for greater throughput. The project, developed by Monad Labs, has introduced a new Ethereum Virtual Machine (EVM) built from scratch with a pipeline architecture. This design allows for more efficient processing and instant block finality, meaning transactions are confirmed faster and more reliably. Additionally, Monad's architecture requires about double the hardware resources compared to Ethereum, which is a trade-off for its enhanced performance.
With its devnet now live, Monad is planning to launch a public testnet and mainnet later in the year. This progression is eagerly anticipated by the developer community, especially those working on decentralized applications (dApps) on Ethereum. Monad's compatibility with Ethereum means developers can easily port their dApps to take advantage of the increased scalability and efficiency. Furthermore, Monad Labs has raised $19 million in funding and is seeking an additional $200 million, led by Paradigm, valuing the company at $3 billion. This financial backing underscores the confidence investors have in Monad's technology and its potential to revolutionize the blockchain space.
