MegaETH Raises $20M to Enhance Blockchain Performance with EigenDA and Node Specialization

• MegaETH secures $20M funding, aiming for 100K TPS with EigenDA tech and node specialization to overcome blockchain bottlenecks.
• MegaETH introduces real-time blockchain processing, targeting 1ms response times and less than 1 cent transaction fees.
• MegaETH’s hardware-limited performance strategy bridges the gap between blockchain and traditional databases with high compute capacity.

MegaETH, an Ethereum Layer 2 solution, has recently secured $20 million in funding, backed by prominent figures including CEOs of Ethereum, EigenLayer, and Consensys. 

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This development has positioned MegaETH as a major player in the blockchain landscape, boasting ambitious plans to revolutionize transaction processing speeds.

High-Performance Targets

MegaETH aims to achieve a remarkable throughput of 100,000 transactions per second (TPS), setting it apart from existing solutions. Unlike typical Layer 2 rollups, MegaETH leverages EigenDA technology to enhance performance. 

The project’s focus on hardware-limited performance and innovations in node specialization, parallelism, and state sync architecture are key components of its strategy.

Research-Driven Approach

The foundation of MegaETH’s development lies in a methodical approach termed “measure, then build.” This is evident in their research paper, which outlines historical performance bottlenecks in blockchain technology and details how MegaETH’s specialized approach aims to overcome these challenges. 

By operating as a Layer 2 solution, MegaETH can bypass some of the performance limitations inherent in the current blockchain ecosystem, such as consensus mechanisms. MegaETH’s specialized node structure is designed to optimize performance in critical areas, notably the sequencer. 

The project promises significant improvements in compute capacity, achieving 100 blocks per second with a response time of just 1 millisecond under heavy network load, and maintaining transaction fees below one cent. 

This approach aims to bridge the gap between blockchain technology and traditional databases, which can handle transactions at speeds far exceeding current blockchain capabilities.

Comparative Performance

Current blockchain solutions lag behind traditional databases, with existing EVM networks offering limited throughput. For instance, opBNB, a leading network, supports 100 million gas units per second, translating to only 650 swaps on Uniswap or 3,700 simple transfers per second. MegaETH seeks to address these limitations, aiming to enable complex applications that require fast feedback and high-frequency trading.

Real-Time Blockchain Concept

MegaETH introduces the concept of a “real-time blockchain,” capable of processing transactions immediately upon appearance and publishing updates in real-time. 

This concept aims to overcome the current limitations of Layer 2 solutions, such as Arbitrum’s release of four blocks per second, which falls short for applications requiring rapid updates. MegaETH’s vision includes high throughput and computing power, making it suitable for a range of demanding applications.

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