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<ul>
 <li>MegaLabs raised $20M for MegaETH’s real-time blockchain from investors like Dragonfly Capital and Vitalik Buterin.</li>
 <li>MegaETH aims to process 100,000 transactions per second with millisecond-level responsiveness.</li>
 <li>Vitalik Buterin inspired MegaETH’s development with ideas from his “Endgame” blog post on scaling Ethereum.</li>
</ul>
MegaLabs, the developer behind the innovative Ethereum scaling protocol MegaETH, announced a successful $20 million seed funding round led by Dragonfly Capital. This funding will accelerate the development of MegaETH, with a testnet expected to launch in the upcoming months.&nbsp;
The funding round also saw participation from Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holding, Tangent, and Credibly Neutral. Additionally, notable angel investors included Ethereum co-founder Vitalik Buterin, Consensys CEO Joseph Lubin, EigenLayer creator Sreeram Kannan, and Hasu of Flashbots.
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 Today marks a significant milestone in our mission to unlocking humanity’s potential with fully on-chain, interactive and sophisticated applications. The crypto economy is here. Welcome to the first Real-Time Blockchain <a href="https://t.co/Zj4FqLDDrA" rel="noopener noreferrer nofollow">https://t.co/Zj4FqLDDrA</a> <a href="https://t.co/MZ5yEFdP7O" rel="noopener noreferrer nofollow">pic.twitter.com/MZ5yEFdP7O</a>— MegaETH (@megaeth_labs) <a href="https://twitter.com/megaeth_labs/status/1806359499038511556?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 27, 2024</a>
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Real-Time Blockchain and Its Capabilities
MegaETH is a groundbreaking “real-time blockchain” that focuses on processing transactions instantly upon arrival. The protocol aims to handle 100,000 transactions per second with millisecond-level responsiveness.&nbsp;
Co-founder Yilong Li explained that a real-time blockchain processes transactions as soon as they arrive and produces results at a very high frequency. The MegaETH protocol achieves this through its heterogeneous blockchain architecture, which boosts performance by allowing nodes with different hardware configurations to specialise in specific tasks.&nbsp;
Moreover, the hyper-optimised EVM execution environment enhances throughput, latency, and resource efficiency to the hardware limits. An EVM execution environment is a blockchain operating system compatible with Ethereum’s programming standard.
Vision and Inspiration
The concept of MegaETH was inspired by Vitalik Buterin’s 2021 <a href="https://vitalik.eth.limo/general/2021/12/06/endgame.html" target="_blank" rel="noopener noreferrer nofollow">blog post</a> “Endgame,” which discussed scaling Ethereum. Buterin emphasised the importance of hyper-scalable EVM implementations for truly scaling Ethereum.
In a message shared by a MegaLabs representative, Buterin expressed his excitement about the MegaETH project, praising the developers for taking on this challenge.
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The post <a href="https://cryptonewsland.com/megalabs-secures-20m-funding-for-real-time-blockchain-megaeth/" rel="noopener noreferrer nofollow">MegaLabs Secures $20M Funding for Real-Time Blockchain MegaETH</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

MegaLabs Secures $20M Funding for Real-Time Blockchain MegaETH

Crypto News Land

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