As blockchain technology advances rapidly, Monad and MegaETH are two emerging projects that are each pushing the evolution of the Ethereum ecosystem in distinctive ways. Recently, Keone Hon, founder of Monad, and Lei Yang, co-founder of MegaETH, engaged in an in-depth discussion about their respective technological innovations, architectural designs, and community cultures.

Monad is a Layer 1 blockchain that aims to surpass performance limits through innovative execution and consensus mechanisms, enabling the processing of over 10,000 transactions per second. Its design prioritizes efficiency and compatibility, making it easy for developers to migrate existing Ethereum applications.

In contrast, MegaETH is a Layer 2 solution focused on significantly boosting Ethereum’s transaction performance, with the goal of processing over 100,000 transactions per second. By optimizing Ethereum’s existing architecture, MegaETH aims to deliver a much faster transaction experience for users.

This article provides a summary of a podcast interview that lasted over an hour, focusing on two blockchain projects with distinct architectures: Monad and MegaETH. It explores how these projects are advancing the speed and efficiency of the Ethereum ecosystem through different technological paths.

01 Monad: Redefining Ethereum’s Future

Keone Hon, in the discussion, outlined the core philosophy behind Monad, highlighting it as a reimagined version of Ethereum, designed to handle up to 10,000 transactions per second. Monad enhances the storage efficiency of Ethereum’s Merkle tree data through the creation of a new database—Monad DB. Keone explained that while Ethereum traditionally operates in a single-threaded manner, Monad boosts execution performance by incorporating optimistic parallel execution and asynchronous processing.

Keone emphasized that state access, not just computational power, is the primary bottleneck in the execution process. Each smart contract depends on some residual state linked to it, which requires data to be read from the disk. Thus, the main limitation in execution is accessing this state data. Monad DB is specifically designed to overcome this challenge, enabling efficient parallel data reads, which unlocks greater performance potential.

02 MegaETH: A Blockchain Focused on Ultimate Performance

Unlike Monad, Lei Yang explained that MegaETH aims to create a performance-optimized blockchain that is fully compatible with Ethereum, with the vision of becoming “the first real-time blockchain.” As a Layer 2 solution for Ethereum, MegaETH strives to handle over 100,000 transactions per second. Lei highlighted that MegaETH doesn’t rely solely on parallelization but prioritizes enhancing single-thread performance, which he believes is essential for the practical use of many applications.

In terms of technical implementation, MegaETH uses a single active orderer to manage all transactions, with other nodes only needing to subscribe to status updates. This approach not only reduces redundant execution but also lowers the hardware requirements for full nodes. Lei further explained that MegaETH has developed a new data structure, similar to the Merkle Patricia tree, which optimizes hardware usage to support efficient transaction processing.

03 The Decentralization Debate from Different Perspectives

Keone and Lei offer distinct viewpoints in the debate on decentralization. Keone asserts that Monad’s architecture guarantees decentralization, trust neutrality, and censorship resistance by utilizing independent single nodes and full nodes. He emphasizes that decentralization is not merely a technical choice but a fundamental community value.

Conversely, Lei contends that MegaETH excels in decentralization because it relies on tens of thousands of Ethereum nodes to ensure finality and correctness. He highlights that MegaETH’s single orderer achieves extremely low transaction feedback times, a feat unattainable in any consensus-based system.

Despite their differing interpretations of decentralization, both founders agree that this feature is vital for the long-term growth of blockchain. All Layer 2 solutions can claim greater decentralization since they rely directly on Ethereum for settlement. Monad, however, enhances Ethereum’s efficiency through innovative technology without increasing hardware demands. This improvement boosts Ethereum’s performance and contributes to the optimization of the entire decentralized ecosystem.

04 From Hardware to Software: Exploring Technical Differences

Keone and Lei also diverge in their technical philosophies. Keone emphasizes that Monad is designed to maximize performance using minimal hardware, enabling anyone to run a node on standard devices. He believes this can be achieved through software optimization rather than relying on high-end hardware. Monad aims to boost Ethereum’s performance while maintaining decentralization.

In contrast, Lei explains that MegaETH opted for a Layer 2 architecture because it offers the best performance, significantly reducing redundancy in execution and consensus. They are not constrained by tradition and are fully committed to a performance-first approach. Lei highlighted that MegaETH’s design allows transaction feedback times as low as 1 millisecond, an unprecedented achievement in any consensus-based system.

05 Community Culture and Brand Identity

When it comes to community building, Keone and Lei have distinct priorities. Keone mentioned that Monad fosters an environment where everyone is encouraged to contribute, creating a positive atmosphere. He highlighted that Monad’s mascot and events are spontaneously created and promoted by the community, embodying the spirit of decentralization.

In contrast, Lei discussed MegaETH’s “Mega Mafia” brand identity, which appeals to developers interested in high-performance blockchain applications. They specifically target founders who are dissatisfied with existing infrastructure and seek to realize their ambitions through MegaETH.

06 When Will the Mainnet Launch?

Keone mentioned that the Monad team is working diligently but couldn’t provide a specific date.

Lei indicated that MegaETH is expected to go live by the end of this year or early next year.

07 Summary

Monad and MegaETH both aim to create high-performance, decentralized EVM-compatible chains. Monad pursues this goal by reengineering the execution and consensus layers, which includes building Monad DB and introducing Optimistic mechanisms to enable parallel and asynchronous transaction processing. It also employs the Monad BFT algorithm to speed up the consensus process. These innovations not only reduce the hardware requirements for nodes but also promote network decentralization.

On the other hand, MegaETH focuses on maximizing single-thread performance. By utilizing a single orderer to streamline transaction processing, it reduces the hardware demands on full nodes and incorporates new data structures to enhance overall efficiency, achieving peak performance. As a Layer 2 solution for Ethereum, MegaETH is primarily responsible for efficient transaction execution, with decentralization supported by Ethereum’s network.

Through this dialogue, Keone and Lei presented two distinct blockchain design philosophies. Despite their different approaches, both are united in their goal of advancing the Ethereum ecosystem. This technical debate highlights the cutting-edge developments in blockchain technology and provides insights for future innovations. Whether it’s through Monad’s deep optimization or MegaETH’s relentless pursuit of high performance, both are key drivers in the evolution of blockchain technology. With pioneers like Keone and Lei at the helm, the Ethereum ecosystem is set for a promising future.

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