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MegaLabs, the main developer behind the modern Ethereum scaling protocol often known as “MegaETH,” introduced a profitable $20 million seed funding spherical led by Dragonfly Capital. This new funding goals to advance MegaETH, a real-time blockchain designed for instantaneous transaction processing, able to streaming 100,000 transactions per second with millisecond-level responsiveness.
MegaLabs Secures Funding to Revolutionize Actual-Time Blockchain Velocity
The funding spherical noticed participation from Figment Capital, Folius Ventures, Robotic Ventures, Huge Mind Holding, Tangent, and Credibly Impartial. Notable angel traders included Vitalik Buterin, co-founder of Ethereum, Joseph Lubin, CEO of Consensys, Sreeram Kannan, creator of EigenLayer, and Hasu of Flashbots.
Yilong Li, co-founder of MegaLabs, defined the corporate’s imaginative and prescient: “We outline a real-time blockchain as one which processes transactions instantly upon arrival and produces outputs at a really excessive frequency.”
Actual-Time Blockchain Innovation
MegaETH’s skill to scale is attributed to 2 major elements: its “heterogeneous blockchain structure,” which reinforces efficiency by permitting community nodes with numerous {hardware} configurations to specialise in particular duties, and a “hyper-optimized EVM execution surroundings” that maximizes throughput, latency, and useful resource effectivity. This execution surroundings operates as a blockchain working system appropriate with Ethereum’s programming requirements.
The idea of MegaETH was partly impressed by Vitalik Buterin’s 2021 weblog put up “Endgame,” the place he mentioned scaling Ethereum. Buterin expressed his enthusiasm for MegaETH’s potential: “Creating hyper-scalable EVM implementations is a key prerequisite for really scaling Ethereum. I’m excited to see good builders taking over this problem.”
Featured Picture: Freepik
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