Monad is a EVM-equivalent layer-1 blockchain with foundational improvements to both consensus and execution that enable 10,000 transactions per second, i.e. 1 billion transactions per day.
What is Monad
Here's how it works:
- High Speed and Low Fees: Monad can process a lot of transactions fast without charging high fees. This is great for users and developers.
- Supports Ethereum Contracts: It works with Ethereum smart contracts and tools. This means people already using Ethereum can easily start using Monad.
- Smart Execution: Monad has a clever way of managing transactions. It can do many things at the same time, which helps it run fast and smoothly.
- Efficient Consensus Mechanism: Monad uses a special version of the tendermint consensus mechanism, which is a way to make sure all transactions are correct and safe.
- Solves Bottlenecks: Monad tackles problems that slow down other blockchains, making it more efficient.
In summary, Monad is like a super-fast version of Ethereum. It's designed to be easy for Ethereum users to switch to, and it solves many of the speed and cost problems of other blockchains.
Team of Monad
James Hunsaker
Co-Founder
James specializes in systems engineering and low-latency optimizations. He previously spent eight years at Jump Trading, developing an ultra-low-latency trading system for major futures markets.
Eunice Giarta
COO
Eunice is a product and tech leader with a CS degree from MIT. She has experience in traditional finance and fintech, having worked in trading at BofA Merrill Lynch and leading product teams at Broadway Technology and Shutterstock.
Funding of Monad
$225,000,000
Funding Round
Led by Paradigm. Other investors were: Electric Captal and Greenoaks Capital.
$19,000,000
Seed Round
Led by Dragonfly Capital. Other investors were Lemniscap, Placeholder, Shima Capital, Finality Capital, and Credibly Neutral, as well as over 70 angel investors, including Cobie, Hasu, 0xMaki, and a number of other leaders in the space.
Monad review
Pros
Optimized EVM
Monad Labs focuses on improving the Ethereum Virtual Machine, enhancing functionality for daily dApp use.
High Throughput
Offers a robust throughput of 10,000 transactions per second, totaling 1 billion daily transactions.
Low Transaction Fees
Maintains economical fees despite high throughput, benefiting users.
Ethereum Compatibility
Seamlessly supports Ethereum smart contracts and infrastructure, easing the transition for existing projects.
Efficient Execution
Implements pipelined, asynchronous execution for smarter scheduling and parallel processing, boosting efficiency.
Cons
Unproven Performance
Claims of high throughput and low fees are yet to be tested under real-world conditions.
Development Complexity
Advanced execution methods could be challenging for developers to adapt to.
Security Risks
Modifications in mechanisms and processes might introduce new vulnerabilities.
Opportunities
AirdropTestnet
Minimal cost: Free
Monad
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