Vitalik Buterin, the esteemed co-founder of Ethereum, has recently taken on the role of an angel investor for MegaETH, a burgeoning blockchain initiative that boasts Ethereum compatibility. The project has proudly declared a successful initial funding round, securing a remarkable $20 million with contributions from several prominent crypto industry figures, including Buterin himself.
MegaETH is engineered as a Layer 2 solution for Ethereum, delivering exceptional performance. It’s particularly noted for its impressive transaction processing capacity, handling up to 100,000 transactions per second with mere milliseconds of latency. This level of efficiency is set to transform the Ethereum network’s processing capabilities, significantly enhancing speed and alleviating operational constraints.
The brains behind MegaETH, Da Bing, took to Twitter to announce the funding milestone, emphasizing the confidence and backing from notable institutional investors like Dragonfly Capital, Figment Capital, and Robot Ventures. This support extends to individual backers, endearingly termed “Mega Angels.”
Expressing profound appreciation, Da Bing acknowledged:
“We’re incredibly fortunate to have the support of our Mega Angels. A heartfelt thank you to:
– @vitalikbuter
– @ethereumJoseph
– @sreeramkannan
– @cobie
– @santiagoroel
– @TheRealKartik
– @hasufl
– @0xMert_
and many others who share the belief that @megaeth_labs will ‘Make Ethereum Great Again.'”
— brother bing / mega-bing / 饼兄 (@hotpot_dao)
June 27, 2024
MegaETH isn’t just about funding; it’s in the throes of vigorous development, with an operational devnet already in place. The project leverages cutting-edge technologies like in-memory computing and a novel state testing framework, all aimed at boosting performance and ensuring seamless state synchronization.
Technical breakthroughs include the adoption of Rust Ethereum and the Alloy Merkle Patricia Trie (MPT), both pivotal in enhancing network performance and memory efficiency.
**Disclaimer:**
The perspectives and opinions presented by the author or any individuals mentioned in this article are solely for informational purposes and should not be construed as financial, investment, or other forms of advice. Engaging in cryptocurrency investments or trading poses a risk of financial loss.
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