Summary
Monad Labs, a layer-1 blockchain developer, raised $225 million led by Paradigm. They plan to offer Ethereum-like features with high throughput. The CEO explained technical details and addressed concerns about state bloat. The blockchain is set to launch later this year and could be useful for consumer crypto apps.
Key Points
1. Monad Labs, developer of a layer-1 blockchain focused on high throughput and Ethereum compatibility, raised $225 million in a funding round led by Paradigm.
2. Monad’s parallel EVM, which allows for parallel execution of transactions, has the potential to process up to 10,000 transactions per second, compared to Ethereum’s 15 TPS.
3. Monad’s CEO, Keone Hon, highlighted that the blockchain’s linear transaction structure and lack of a scheduler could prevent the transaction dropping issues faced by Solana, making it a promising option for creating consumer crypto apps.