High-throughput Ethereum scaler MegaETH debuts public testnet, hitting 20,000 TPS on day one
Quick Take MegaETH, the Ethereum scaling solution backed by notable investors, including Vitalik Buterin, launched its public testnet on Friday. The team takes an opinionated stance on scaling that runs counter to the “rollup-centric roadmap” that scales Ethereum through multiple Layer 2s.
MegaETH has officially rolled out its public testnet , a crucial step ahead of the closely-watched and controversial Ethereum scaling solution.
The protocol reportedly can handle 20,000 transactions per second and boasts 10 millisecond blocktimes, By comparison Solana has a theoretical TPS of 65,000 and an average real throughput of about 1,500, according to CoinGecko.
MegaETH’s developers take an opinionated stance on scaling that runs counter to the “rollup-centric roadmap” that scales Ethereum through Layer 2s. Instead, MegaETH is looking to become a singular, high-throughput solution.
Like traditional Optimistic and ZK-rollups, MegaETH offloads transaction execution from the Ethereum base layer while relying on it for security. However, alternative data availability solutions like EigenDA and specialized sequencers are used to achieve parallel transaction processing.
The project aims to scale eventually to 100,000 TPS and sub-millisecond latency.
In June 2024, MegaETH raised $20 million in seed funding at a "nine-figure" valuation from notable investors, including Ethereum co-founders Vitalik Buterin and Joseph Lubin. The team also raised an additional $10 million on the fundraising platform Echo and $13 million worth of ETH by selling NFTs.
Several blockchain applications have already spun up instances on the MegaETH testnet, including trading platforms GTE and Infinex.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Have financial markets reached peak uncertainty?
Share link:In this post: Trump’s unclear April 2 tariffs and new policies have pushed markets into peak uncertainty. Fed officials and investors have little confidence in economic forecasts right now. Most S&P 500 losses came from big tech stocks, while the rest of the index is holding up.
Starlink and Italian government’s deal has stalled, in disapproval of Musk’s Doge role
Share link:In this post: Discussions between government and Starlink halted on security concerns and Musk’s role in the Trump administration. Opposition politicians questioned the logic of engaging a foreign business over sensitive matters. However, there are chances negotiations may resume
Trump’s proposed 200% tariff on European liquor imports stokes worries among California’s winemakers
Share link:In this post: Trump’s proposed 200% tariffs on European wine worry California winemakers already struggling with low demand and crop losses. Large companies may benefit from refunds, but smaller wineries fear disrupted sales and distribution. Some see potential benefits for U.S. wines, but many fear economic harm if European alcohol prices skyrocket.
Trump’s economic policies put $5,000 DOGE dividend checks on hold
Share link:In this post: Trump delays DOGE dividends, prioritizing tariffs and tax cuts over $5,000 stimulus checks. Economists warn that cash payouts may worsen inflation. The plan’s future depends on the country’s economic performance.
Trending news
MoreCrypto prices
More
