Favored by Vitalik! The bomb project MegaETH, which raised $30 million, is about to launch its testnet with soaring popularity! Definitely the most noteworthy Layer 2 blockchain at the moment!

Since the birth of blockchain technology, it has continuously evolved and broken through performance bottlenecks.

MegaETH, as an innovative blockchain compatible with EVM, focuses on real-time Web 2.0-level performance, dedicated to bridging the gap between distributed ledger networks and traditional cloud computing servers, bringing hope for the large-scale implementation of blockchain applications.

MegaETH aims to push the L2 performance based on Ethereum to the hardware limits, capable of processing transactions at a speed of 100,000 TPS, with transaction fees below $0.01, response times reaching milliseconds, and without sacrificing security and decentralization, redefining the performance standards of blockchain.

Official Twitter @MEGAETH

🟠 Operational Mechanism

1. Node Specialization: By centralizing transaction execution on a few sequencer nodes while utilizing multiple full nodes for decentralized block validation, MegaETH enhances network performance while lowering hardware thresholds, achieving a balance between performance and decentralization.

2. Real-time EVM: The real-time EVM execution engine processes immediately upon transaction arrival, publishing state changes within 10 milliseconds. By leveraging a low-latency block construction algorithm based on streaming media, combined with concurrency control protocols and transaction priority support, efficient processing is ensured.

3. In-memory Computing: Compared to SSD-based systems, MegaETH uses in-memory computing to enhance state access speeds by 1000 times, storing EVM world states and state attempts in memory, enabling it to support high-performance data-intensive Web 2.0 applications.

4. Smart Contract Compilation: Compiles smart contracts into native machine code through just-in-time (JIT) compilation, achieving performance improvements of up to 100 times, eliminating inefficient issues from EVM bytecode interpretation and stack machine simulation, providing an ideal platform for compute-intensive DApps.

5. Super I/O Efficient State Attempt: A new design replaces the Merkle Patricia Trie (MPT), eliminating disk I/O bottlenecks, effectively scaling to TB-level state data while maintaining EVM compatibility, addressing the limitations of traditional storage structures.

6. State Synchronization Protocol: Utilizes an efficient peer-to-peer (P2P) protocol to achieve low-latency and high-throughput state update propagation, allowing even nodes with general network connections to stay synchronized with the latest state at a rate of 100,000 TPS.

🟠 Financing Journey

1. Seed Round Financing: On June 27, 2024, MegaETH successfully completed a $20 million seed round financing. This round of financing featured strong participants, including well-known investment institutions such as Dragonfly, Robot Ventures, and Figment Capital, as well as industry giants like Vitalik Buterin and Joseph Lubin, highlighting the market's high recognition of its prospects.

2. Community Round Financing: On December 13 of the same year, MegaETH completed a $10 million community round financing. Although the investors were not disclosed, it further enriched the project's development funds and provided support for subsequent layouts.

🟠 Future Development Outlook

With its innovative architecture and cutting-edge technology, MegaETH sets a new benchmark for blockchain scalability, breaking through long-standing performance limitations. With support from industry leaders and investment institutions, it is expected to bridge the gap between blockchain and traditional computing, unlocking new possibilities for decentralized applications, leading blockchain technology into a new era of Web 2.0-scale applications, and reshaping the underlying architecture of the digital economy.