Recently, the highly anticipated Layer 1 public chain Monad announced the official launch of its testnet, a news that quickly ignited enthusiasm in the blockchain community and became the focus of the industry. Monad is seen as a disruptive solution to the scalability bottleneck of the Ethereum Virtual Machine (EVM). As a blockchain project that combines high performance with developer convenience, the launch of Monad's testnet not only marks a significant breakthrough in technological research and development but also lays a solid foundation for future mainnet deployment and ecological prosperity.
The Origin and Vision of Monad
Monad was born in 2022, founded by a group of technical experts with years of experience in high-frequency trading. The core team includes Keone Hon, James Hunsaker, and Eunice Giarta, with Keone and James having worked together for 8 years at the well-known quantitative trading firm Jump Trading, gaining deep insights into high-performance systems. Monad's vision is clear and ambitious: to enhance blockchain transaction throughput to 10,000 transactions per second (TPS) through innovative technological architecture while maintaining full compatibility with EVM. This goal aims to provide Ethereum developers with an efficient and low-cost operating environment, allowing existing applications to seamlessly migrate to a higher-performance network.
Technological Innovation: The Perfect Balance of Performance and Compatibility
The technological highlights of Monad lie in its systematic solutions to blockchain performance bottlenecks while ensuring developer friendliness. Here are its core innovations:
Parallel Execution
- Monad adopts an optimistic parallel execution strategy, allowing multiple transactions to be processed simultaneously and re-executing conflicting transactions after reaching consensus. This design significantly enhances the utilization efficiency of multi-core processors, contrasting sharply with traditional sequential execution blockchains. MonadBFT Consensus Mechanism
- Based on the HotStuff protocol, the optimized MonadBFT reduces the communication rounds from three to two, achieving a 1-second block confirmation time, ensuring a balance between high throughput and decentralized security. Delayed Execution
- By separating transaction execution from consensus, nodes first reach consensus on transaction order and then execute independently, optimizing resource allocation and enhancing the network's resistance to malicious attacks.
MonadDB
- This is a database specifically customized for high throughput, supporting asynchronous disk operations and parallel state access, directly storing Merkle Patricia Trie, eliminating I/O bottlenecks of traditional databases.
EVM Compatibility
- Monad supports EVM bytecode and Ethereum RPC API, allowing developers to directly use Solidity to write smart contracts without additional adaptation. Superscalar Pipelining
- Drawing on modern CPU design concepts, Monad breaks down transaction processing into multiple parallel stages, further enhancing performance. The integration of these technologies allows Monad to match Solana in performance while retaining the development convenience of the Ethereum ecosystem, earning it the reputation of being a "combination of Ethereum and Solana."
Financing Strength: A Strong Endorsement of Market Confidence
Monad's development company, Monad Labs, has performed impressively in the capital market:
- February 2023: Completed a $19 million seed round financing led by Dragonfly Capital, with participation from Placeholder, Shima Capital, and other institutions.
- April 2024: Completed a $225 million Series A financing led by Paradigm, with over 50 top institutions including Electric Capital, Coinbase Ventures, SevenX Ventures, and well-known angel investors like Naval Ravikant.
- Total financing amount: $244 million, with a valuation of $3 billion, making it one of the largest financing cases in the crypto field in 2024.
This strong financial support not only guarantees technological research and development and team expansion but also reflects the market's general optimism about Monad's potential.
Ecological Prosperity: A New Force in Blockchain Taking Shape
Although the mainnet has not yet launched, Monad's ecosystem has already shown vigorous vitality:
Project Scale: Over 80 projects have committed to developing on Monad, expected to increase to 150 at the mainnet launch, covering areas such as DeFi, NFT, and GameFi.
Core Partners:
- LayerZero: Provides cross-chain interoperability.
- Pyth Network: Integrates oracle services.
- Wormhole: Enhances cross-chain bridging capabilities.
Star Projects:
- aPriori: An MEV-optimized liquid staking platform.
- Monad Pad: A token and NFT issuance platform that has raised $945,000.
- Kintsu, Kuru, Elixir: Representatives of DeFi and liquidity protocols.
In addition, Monad emphasizes community building, enhancing user engagement through the "gmonad" good morning posts and meme contests on the X platform, as well as "nads" and "OG" identity verification on Discord, laying the groundwork for future airdrops.
Market Positioning: Unique Advantages in Competition
Monad stands out in the Layer 1 public chain arena:
Competitive Landscape:
- Solana: A benchmark for high performance but lacks EVM compatibility.
- Aptos and Sui: Pioneers in parallel execution, but the migration cost of the Move language ecosystem is high.
- Ethereum Layer 2: Such as Arbitrum, provides scalability but is limited by the mainnet.
Unique Advantages:
- Combines Solana's high throughput (10,000 TPS) with Ethereum's compatibility.
- Gas fees as low as sub-cent levels.
- Top-tier team and financial backing.
Industry insiders predict that Monad is expected to rise rapidly after the mainnet launch, becoming a strong challenger to Solana and Ethereum.
Participation Opportunities: Seize the Initiative
For users wishing to participate in the Monad ecosystem, here are some practical suggestions:
- Community Activities: Join the Monad Discord to strive for "nads" or "OG" status; follow @monad_xyz on X.
- Participate in AMAs and meme creation. Node Operation: Refer to the official guide to run a testnet node, or have the opportunity to earn rewards.
- Ecological Interaction: Follow projects like Monad Pad and aPriori, participate in NFT minting or staking.
- Airdrop Expectations: Drawing on the precedent of Wormhole airdropping $W to the Monad community, early participation may yield substantial returns.
Conclusion: The Future of Monad is Promising
With the launch of the testnet as a starting point, Monad, backed by top-notch technological innovation, strong capital support, and a rapidly expanding ecosystem, has quickly risen to become one of the most watched blockchain projects in 2024-2025. It not only has the potential to reshape the competitive landscape of Layer 1 public chains but may also drive the large-scale application of EVM compatibility. As the mainnet approaches, every step of Monad's progress is worth looking forward to. For technology enthusiasts, developers, or investors, now is the best time to closely follow and participate in this venture.
Disclaimer: The above content does not constitute investment advice.
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