- MegaLabs raised $20M for MegaETH’s real-time blockchain from investors like Dragonfly Capital and Vitalik Buterin.
- MegaETH aims to process 100,000 transactions per second with millisecond-level responsiveness.
- Vitalik Buterin inspired MegaETH’s development with ideas from his “Endgame” blog post on scaling Ethereum.
MegaLabs, the developer behind the innovative Ethereum scaling protocol MegaETH, announced a successful $20 million seed funding round led by Dragonfly Capital. This funding will accelerate the development of MegaETH, with a testnet expected to launch in the upcoming months.
The funding round also saw participation from Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holding, Tangent, and Credibly Neutral. Additionally, notable angel investors included Ethereum co-founder Vitalik Buterin, Consensys CEO Joseph Lubin, EigenLayer creator Sreeram Kannan, and Hasu of Flashbots.
Real-Time Blockchain and Its Capabilities
MegaETH is a groundbreaking “real-time blockchain” that focuses on processing transactions instantly upon arrival. The protocol aims to handle 100,000 transactions per second with millisecond-level responsiveness.
Co-founder Yilong Li explained that a real-time blockchain processes transactions as soon as they arrive and produces results at a very high frequency. The MegaETH protocol achieves this through its heterogeneous blockchain architecture, which boosts performance by allowing nodes with different hardware configurations to specialise in specific tasks.
Moreover, the hyper-optimised EVM execution environment enhances throughput, latency, and resource efficiency to the hardware limits. An EVM execution environment is a blockchain operating system compatible with Ethereum’s programming standard.
Vision and Inspiration
The concept of MegaETH was inspired by Vitalik Buterin’s 2021 blog post “Endgame,” which discussed scaling Ethereum. Buterin emphasised the importance of hyper-scalable EVM implementations for truly scaling Ethereum.
In a message shared by a MegaLabs representative, Buterin expressed his excitement about the MegaETH project, praising the developers for taking on this challenge.
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