MegaLabs, the leading developer of the innovative Ethereum scaling protocol known as “MegaETH”, announced a successful $20 million seed funding round led by Dragonfly Capital. This new investment aims to advance MegaETH, a real-time blockchain designed for instantaneous transaction processing capable of streaming 100,000 transactions per second with millisecond-level responsiveness.
MegaLabs secures funding to revolutionize real-time blockchain speed
Participation in the funding round included Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holding, Tangent, and Credibly Neutral. Notable angel investors include Ethereum co-founder Vitalik Buterin, Consensys CEO Joseph Lubin, EigenLayer creator Sreeram Kannan, and Flashbots’ Hasu.
Yilong Li, co-founder of MegaLabs, explained the company’s vision: “We define a real-time blockchain as a blockchain that processes transactions as soon as they arrive and produces output at a very high frequency.”
Real-time blockchain innovation
MegaETH’s ability to scale is due to two main factors: A “heterogeneous blockchain architecture” that improves performance by allowing network nodes with different hardware configurations to specialize in specific tasks, and a “hyper-optimized EVM execution environment” that maximizes throughput, latency, and resource efficiency. This execution environment operates as a blockchain operating system compatible with Ethereum’s programming standards.
The concept of MegaETH was partly inspired by Vitalik Buterin’s 2021 blog post “Endgame”, where he discussed scaling Ethereum. Buterin expressed enthusiasm about MegaETH’s potential: “Creating a hyperscalable EVM implementation is a key prerequisite for truly scaling Ethereum. We’re excited to see so many talented developers taking on this challenge.”
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