Today, as blockchain technology continues to evolve, emerging public chain projects emerge in endlessly. Among them, Monad has attracted the attention of many investors and developers with its unique design concept and innovative mechanism. This article will provide an in-depth analysis of the core features of Monad, explore potential opportunities to participate in the Monad ecosystem, and share the latest project developments.
What is a Monad?
In addition to being a Layer 1 public chain network, Monad itself is also fully compatible with EVM networks.
Monad combines cutting-edge parallel processing technology and innovative consensus mechanisms to achieve unprecedented transaction processing speed and scalability. Its core design concept is to provide developers and users with an efficient and low-cost blockchain environment while maintaining decentralization and security. The following are the core innovative mechanisms and features of Monad:
1. MonadBFT consensus mechanism
MonadBFT is one of Monad’s core innovations. This mechanism greatly improves the transaction confirmation speed and throughput of the network by optimizing the communication methods and decision-making process between nodes. Compared with traditional consensus mechanisms, MonadBFT can significantly improve network performance while ensuring security.
2. Delayed execution technology
Monad introduces an innovative delayed execution mechanism to separate the consensus process and execution process of transactions. This design allows the network to reach consensus on the order of transactions before executing them, greatly improving overall network performance.
3. Parallel execution mechanism
Monad implements parallel execution of transactions, processing multiple transactions that do not affect each other at the same time by intelligently analyzing the dependencies between transactions. This technology makes full use of the computing power of modern multi-core processors and significantly increases transaction processing speed.
4. MonadDb storage system
In order to support high-frequency data reading and writing, Monad developed a specialized MonadDb storage system. This system is optimized to efficiently handle the unique data structures and access patterns of the blockchain, providing a solid foundation for the high-performance operation of Monad.
With the above features, Monad's performance can reach 10,000 transactions per second (TPS) and is fully compatible with the Ethereum Virtual Machine (EVM). In addition, Monad provides a complete development tool chain, reducing the entry level for developers. threshold.
Monad financing situation
Monad still performs well in terms of financing despite the bad market in 2024, showing investors' confidence in its technology and potential.
In April 2024, Monad Labs completed a $225 million round of financing led by Paradigm, valuing it at $3 billion. This funding will be used to accelerate Monad’s development and ecosystem construction, providing strong financial support for future growth.
Monad airdrop interactive tutorial
Although Monad has not officially announced the testnet and airdrop plan, participating in the community interaction now may still have the opportunity to obtain potential airdrop rewards in the future. Here is the preparation process for participating in the Monad ecosystem:
Before going online:
Join and contribute to the Monad Discord community
Actively participate in the community and contribute to native ecological projects
After the testnet goes online (not yet announced):
Prepare Web3 wallet (such as Phantom, Backpack, OKX Web3)
Get testnet tokens
Participate in ecological project test network activities
Deploy and interact with smart contracts
Participate in decentralized application (DApps) testing
Provide network liquidity
Run node
Actively participate in community discussions and contributions
Monad potential ecological project
Whom
Kuru is a decentralized order book exchange (CLOB) in the Monad ecosystem. It aims to provide users with a single platform to find, research and trade spot assets on the chain. Kuru leverages the high throughput of Monads to provide an efficient trading experience.
aPriori
aPriori is a MEV infrastructure and liquidity staking protocol built natively on Monads. It is committed to building a transaction-centric infrastructure for Monad, aiming to reduce gas fees, optimize network traffic, and provide sustainable incentives for validators.
Kintsu
Kintsu is a liquidity staking protocol in the Monad ecosystem, aiming to provide users with a flexible staking experience. It allows users to pledge assets while still being able to use these assets flexibly to meet users' needs for liquidity.
Monad Nomads NFT
Monad Nomads NFT is the first community-driven NFT proposal on Monad. This project aims to enhance community engagement and interactivity through NFTs.
Poply
Poply is the native, community-based NFT marketplace on Monad. It provides a platform for NFT creators and collectors to trade and display NFT artwork within the Monad ecosystem.
Breath of Estova
Breath of Estova (BoE) is a Play-to-Earn 2D game built on the Monad network. BoE leverages the parallel capabilities of Monads to introduce blockchain integration, allowing users to earn ESTOVA tokens and obtain unique in-game items and pets.
RareBetSports
RareBetSports is a Web3 ecosystem built on the Monad network designed to capture the experience of combining sports and cryptocurrency. It provides fans and future communities with a dedicated platform that combines sports betting and blockchain technology.
Monad Latest News
Here are seven key highlights, according to Monad’s August 2024 monthly report:
Monad Madness: Launched a $1M project competition that attracted the attention of over 60 VCs.
Ecosystem expansion: Redstone Oracles joins the ecosystem and Intella X collaborates in Asia Pacific.
Education Initiative: Launch of “Monad 101” course designed for users and developers in Asia Pacific.
Community building: Monad Metrics Guild was established to focus on tracking and analyzing network indicators.
Technical analysis: Publish a detailed description of the asynchronous execution mechanism to help developers understand.
Team expansion: Actively recruit to reflect the rapid development needs of the project.
Infrastructure update: Launched a new official website to provide more comprehensive project information and resources.
In addition, although there has not yet been an official announcement, there are rumors that Monad’s testnet will be launched soon, which will be an important milestone in the development of the project.
