{"id":23875,"date":"2024-06-28T18:00:53","date_gmt":"2024-06-28T15:00:53","guid":{"rendered":"https:\/\/coinengineer.io\/?p=23875"},"modified":"2024-06-28T10:44:32","modified_gmt":"2024-06-28T07:44:32","slug":"megaeth-megalabs-raises-20-m-for-tps-blockchain","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/megaeth-megalabs-raises-20-m-for-tps-blockchain\/","title":{"rendered":"MegaETH: MegaLabs Raises $20M for High-TPS Blockchain"},"content":{"rendered":"<p>In a seed fundraising round, MegaLabs -developer of a new blockchain called <strong>MegaETH- <\/strong>attracted $20 million.<\/p>\n<p>Last December, MegaLabs started gathering money for the seed round; co-founder and main business officer Shuyao Kong told The Block they closed it in May. The financing was set as stock plus token warrants, which increased <strong>MegaETH&#8217;s<\/strong> completely diluted token value to a &#8220;9-figure&#8221; level, Kong said, suggesting at least $100 million.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/megaeth-megalabs-raises-20-m-for-tps-blockchain\/#Notable_Investors_Support_MegaETH\" title=\"Notable Investors Support MegaETH\">Notable Investors Support MegaETH<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/megaeth-megalabs-raises-20-m-for-tps-blockchain\/#MegaETHs_High-Performance_Goals\" title=\"MegaETH&#8217;s High-Performance Goals\">MegaETH&#8217;s High-Performance Goals<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Notable_Investors_Support_MegaETH\"><\/span>Notable Investors Support MegaETH<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Leading the seed round were Dragonfly, Figment Capital, Robot Ventures, Big Brain Holdings, and others, MegaLabs stated Thursday. Also joining the round were angel investors: Ethereum co-founder Vitalik Buterin, ConsenSys founder and CEO Joseph Lubin, EigenLayer founder and CEO Sreeram Kannan, ETHGlobal co-founder Kartik Talwar, Helius Labs co-founder and CEO Mert Mumtaz, Santiago Santos, Hasu, and Jordan Fish, also known as Cobie.<\/p>\n<p>Kong, a former global head of business development at Consensys, and Yilong Li, a PhD in computer science from Stanford University and former employee of software startup Runtime Verification Inc., started MegaLabs early in 2023. Kong also mentioned that she still serves Consensys as an advisor.<\/p>\n<p><em>&#8220;The idea of the <strong>MegaETH<\/strong> blockchain emerged because most Ethereum virtual machine (EVM)-compatible blockchains can only achieve 3-digit transactions per second (TPS), while MegaETH aims to achieve 100,000 TPS,&#8221;<\/em> Kong added.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"MegaETHs_High-Performance_Goals\"><\/span>MegaETH&#8217;s High-Performance Goals<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>MegaETH<\/strong> bills itself as the first &#8220;real-time blockchain&#8221; fully compatible with Ethereum. <strong>MegaETH<\/strong> can process transactions<em> &#8220;as soon as they arrive and publish the resulting updates in real-time, as Kong claimed. Real-time here\u00a0 means &#8220;Further, it must support high transaction throughput and substantial compute capacity to maintain the real-time experience even in peak user demand,&#8221;<\/em> she said.<\/p>\n<p><strong>Megaether<\/strong> achieves real-time performance using Ethereum security, Optimism&#8217;s fault-proof architecture, and its own efficient sequencer. Kong said.<\/p>\n<p>Particularly, <strong>Megaether&#8217;s<\/strong> two main strategies\u2014a heterogeneous blockchain architecture and a &#8220;hyper-optimized&#8221; EVM execution environment\u2014help it reach 100,000 TPS in real time, the group said. The heterogeneous blockchain design improves performance by letting network nodes with varying hardware configurations specialize in particular activities; the hyper-optimized EVM execution environment drives throughput, latency, and resource efficiency to hardware limits, MegaLabs stated.<\/p>\n<p>It said, &#8220;<em>These techniques stand in stark contrast to today&#8217;s homogeneous architectures, which can only use less than 1% of the compute capacity of a modern web2 server.&#8221;<\/em><\/p>\n<p>In a statement on investing in MegaLabs, Buterin noted, &#8220;<em>Truly scaling Ethereum depends on creating hyper-scalable EVM implementations. Seeing outstanding programmers tackle this challenge excites me.&#8221;<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a seed fundraising round, MegaLabs -developer of a new blockchain called MegaETH- attracted $20 million. Last December, MegaLabs started gathering money for the seed round; co-founder and main business officer Shuyao Kong told The Block they closed it in May. The financing was set as stock plus token warrants, which increased MegaETH&#8217;s completely diluted<\/p>\n","protected":false},"author":6,"featured_media":23877,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[7073,7074,1724],"class_list":["post-23875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-megaeth","tag-megalabs","tag-vitalik-buterin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MegaETH: MegaLabs Raises $20M for High-TPS Blockchain - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/megaeth-megalabs-raises-20-m-for-tps-blockchain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MegaETH: MegaLabs Raises $20M for High-TPS Blockchain - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"In a seed fundraising round, MegaLabs -developer of a new blockchain called MegaETH- attracted $20 million. 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