MegaETH is set to launch its public testnet in early autumn and the mainnet by the end of the year. The developer behind MegaETH, MegaLabs, recently announced a $20 million seed funding round led by Dragonfly, with support from industry figures such as Vitalik Buterin, Joseph Lubin, and Sreeram Kannan.
MegaETH, developed by MegaLabs, aims to expand blockchain performance without compromising security or decentralization. It currently has a real-time and high-performance devnet and is developing a real-time blockchain limited only by hardware constraints.
MegaETH believes that the current EVM chain has limitations in terms of low transaction throughput, difficulty in deploying complex applications, and slow block time. High-performance blockchains also face congestion and reliability issues, while Layer 2 solutions have not been optimized for performance. MegaETH claims to be the first real-time blockchain that is fully compatible with Ethereum (L2) and achieves this breakthrough through leveraging Ethereum’s security, integrating Optimism’s fault-proof system, and utilizing its own optimized sorter.
MegaETH boasts high transaction throughput, rich computational capabilities, and millisecond-level response times even under heavy load. The goal is to push the performance of Ethereum L2 to its hardware limits and narrow the gap between blockchain and traditional cloud computing servers. MegaETH claims to be able to process 100,000 transactions per second with millisecond-level response times.
The MegaETH team consists of highly qualified individuals with academic and professional backgrounds in blockchain and computer science. The team currently has less than 20 members.
Yesterday, MegaLabs announced the completion of a $20 million seed funding round led by Dragonfly. Other investors include Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holdings, Tangent, Credible Neutral, as well as notable angel investors such as Vitalik Buterin, Joseph Lubin, Sreeram Kannan, Cobie, Kartik Talwar, Hasu, Santiago, and Mert Mumtaz. The funding structure includes both equity and token subscription rights, bringing MegaETH’s fully diluted token valuation to at least $100 million.
MegaETH operates through three main roles: sorters, provers, and full nodes. By decoupling transaction execution tasks from full nodes, MegaETH achieves node specialization. The sorter is responsible for sorting and executing user transactions, and at any given time, there is only one active sorter, eliminating consensus overhead during normal execution. Most full nodes receive state diffs from the sorter through the p2p network and directly update their local state. They do not re-execute transactions but indirectly verify blocks using proofs provided by the provers.
MegaETH utilizes Ethereum’s security, Optimism’s fault-proof system, and an optimized sorter to achieve real-time performance. The heterogeneous blockchain architecture and highly optimized EVM execution environment push throughput, latency, and resource efficiency to their hardware limits.
MegaETH is set to launch its public testnet in early autumn and the mainnet by the end of the year. They have also introduced the MegaMafia 10x builder program to collaborate with developers and founders in building applications.
MegaETH’s real-time blockchain is expected to meet the high throughput and low latency requirements of complex applications. For the gaming industry, real-time blockchain means a smoother and more authentic gaming experience. For projects like DePIN, a more efficient and reliable data on-chain process is needed. The question remains whether MegaETH can provide the ideal operating environment and drive the development of complex applications such as gaming and DePIN, and transform cutting-edge blockchain technology concepts into tangible reality.