This year's largest project funding, Paradigm leads a $225 million investment in the new EVM public chain Monad.

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"Monad" is reshaping Ethereum

Monad is a fully compatible high-performance parallel EVM public chain, with an official claim to achieve 10,000 real TPS, 1-second block time, and single-slot finality.

Monad founder Keone Hon emphasized in an interview with Fortune that Monad differs from Ethereum's vast and complex technical stack. Its innovation comes from rebuilding the Ethereum blockchain, maintaining the ability to execute smart contracts, and completing transactions faster, with higher transaction volume, and lower costs.

He stated:

We have been through about two years of development, while much of the research focuses on Rollups, data availability, and other scaling directions, Monad is very focused on the most basic execution. EVM to Web3 is like JavaScript to Web2, it will be fully compatible with Ethereum, Polygon, Avalanche, BSC, and Optimism, without any changes needed.

Currently, in the cryptocurrency market, many are striving for the overflow value of Ethereum, and most support EVM compatibility. However, this round of investment institution Electric Capital partner Avichal Garg pointed out:

The way to enter the crypto market is to achieve EVM compatibility and attract a group of developers. For us, this is the script for a bull market.

Monad to launch mainnet and release tokens by the end of the year

Keone Hon mentioned that Monad will deploy a testnet in the coming months, aiming to launch the mainnet and issue native tokens by the end of the year. He hopes that Monad's first application will be able to achieve the high-frequency trading he previously conducted at Jump Trading:

The world's largest options exchange processes 500 million to 1 billion trades daily. If we want to achieve the scale of Nasdaq or the CME Group on the blockchain, we need a blockchain with higher performance than the existing ones.