MegaLabs, the pioneering developer behind MegaETH, an ambitious Ethereum scaling protocol promising real-time transaction processing, has secured $20 million in a seed funding round led by Dragonfly Capital. The funding round also saw significant participation from Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holding, Tangent and Credibly Neutral, alongside notable angel investors including Ethereum co-founder Vitalik Buterin, Consensys CEO Joseph Lubin, EigenLayer creator Sreeram Kannan, and Flashbots’ Hasu.
MegaETH: Revolutionizing Blockchain Speed
MegaETH aims to redefine blockchain speed by focusing on processing transactions as they arrive, aiming for a throughput of 100,000 transactions per second with millisecond-level responsiveness. According to Yilong Li, co-founder of MegaLabs, “A real-time blockchain processes transactions immediately upon receipt, delivering outputs at high frequencies.”
Scaling Innovations of MegaETH
MegaETH achieves its remarkable scaling capabilities through a heterogeneous blockchain architecture, optimizing performance by allowing network nodes with varied hardware configurations to specialize in specific tasks. Additionally, its hyper-optimized Ethereum Virtual Machine (EVM) execution environment maximizes throughput, minimizes latency, and enhances resource efficiency to hardware limits.
The Vision and Inspiration Behind MegaETH
The concept of MegaETH draws inspiration from Ethereum co-founder Vitalik Buterin’s 2021 blog post, “Endgame,” which discusses the critical need for scalable EVM implementations. Buterin expressed excitement about MegaETH, stating, “Creating hyper-scalable EVM implementations is a key prerequisite for truly scaling Ethereum.”
FAQ:
What is MegaETH? MegaETH is a blockchain protocol developed by MegaLabs, designed to process transactions in real-time with speeds of up to 100,000 transactions per second, aiming for millisecond-level responsiveness.
How does MegaETH achieve its scaling capabilities? MegaETH utilizes a heterogeneous blockchain architecture and a hyper-optimized EVM execution environment to maximize throughput, minimize latency, and improve resource efficiency.
Who led the funding round for MegaLabs? Dragonfly Capital led the $20 million seed funding round for MegaLabs, with participation from Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holding, Tangent and Credibly Neutral, and angel investors like Vitalik Buterin, Joseph Lubin, Sreeram Kannan, and Hasu of Flashbots.
