MegaLabs Gets $20 Million to Develop Real-Time MegaETH Blockchain

MegaLabs announced a $20 million seed funding round led by Dragonfly to enhance MegaETH, positioning it as the first real-time blockchain capable of processing 100,000 transactions per second with millisecond-level responsiveness.

This invention aims to bridge the gap between current blockchain constraints and the needs of major consumer apps, providing a seamless user experience comparable to major Web2 platforms and preserving key blockchain ideals of decentralization and security.

The fundraising round includes contributions from institutional investors such as Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holding, Tangent and Credibly Neutral, indicating a growing interest in new blockchain solutions.

Renowned players in the cryptocurrency industry, such as Vitalik Buterin and Joseph Lubin, also took part, demonstrating the industry’s confidence in MegaETH’s ability to disrupt decentralized finance (DeFi), gaming, social networks, and other areas.

MegaETH’s Technological Expertise comes from its heterogeneous blockchain architecture, which optimizes performance across a wide range of hardware configurations, as well as its highly efficient EVM execution environment.

These ideas differ from standard homogeneous blockchain architectures, promising significant improvements in throughput, latency, and resource efficiency. These strategies contrast sharply with today’s homogeneous systems, which can only utilize less than 1% of the processing power of a modern Web server2.

“Our mission is to bring Web2-level real-time performance to cryptocurrencies. By leveraging Ethereum’s superior security and censorship resistance guarantees, we can explore a much broader design space to create the execution layer and network state synchronization processes as fast as possible without compromising the core values ​​of blockchains,” said Yilong Li, CEO and co-founder of MegaLabs.

MegaETH’s public testnet is expected to launch in early fall, allowing developers to explore its possibilities and experiment with new blockchain applications that were previously unachievable.

MegaLabs also launched the MegaMafia initiative, which aims to foster a community of developers who will work closely together to build creative decentralized applications (dApps) that leverage the capabilities of MegaETH.

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