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The initiative, which had presented itself as a layer-2 “real-time blockchain” aiming for over 100,000 transactions per second, would enable on-chain interactions to resemble traditional web applications more closely than the current crypto networks.
MegaETH launched its mainnet (MegaLabs)
Key information:
- MegaETH, designed as a high-throughput blockchain to provide near-instant interactions for Ethereum applications, officially launched its public mainnet on Monday, entering a space currently engaged in a significant discussion about the scaling of Ethereum.
- The initiative, which had previously pitched itself as a layer-2 “real-time blockchain” targeting over 100,000 transactions per second, would enable on-chain interactions to feel closer to traditional web applications than the existing crypto networks.
MegaETH, designed as a high-throughput blockchain to provide near-instant interactions for Ethereum applications, officially launched its public mainnet on Monday, entering a space currently engaged in a significant discussion about the scaling of Ethereum.
The initiative, which had presented itself as a layer-2 “real-time blockchain” aiming for more than 100,000 transactions per second (tps), would enable on-chain interactions to feel closer to traditional web applications than the existing crypto networks. Ethereum operates at below 30 tps, according to Token Terminal.
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The launch concludes a swift ascent that has attracted both technical interest and substantial financial support. The project’s development division, MegaLabs, secured a $20 million seed funding round in 2024, led by Dragonfly. Last October, it announced a $450 million oversubscribed token sale supported by some prominent figures in crypto, including Ethereum co-founders Vitalik Buterin and Joe Lubin. This fundraising was among the largest in the crypto sector that year.
The native token, MEGA, which supports the network’s economic framework, is not fully unlocked upon launch. As per the team, the distribution and utility of the token will be implemented progressively, with specific unlocks linked to milestones in network usage.
MegaETH’s launch occurs as Ethereum’s long-standing scaling strategy is under review, particularly by Buterin. For years, the second-largest blockchain by market capitalization has depended on layer-2 solutions, off-chain systems that aggregate transactions and settle them back on the base layer, to manage the majority of the ecosystem’s growth.
However, in recent dialogues, Buterin has indicated that Ethereum may require a more significant investment in scaling the layer-1 network to lessen fragmentation and enhance user experience.
These statements have sparked discussions throughout the ecosystem. Advocates of layer-2 solutions argue that the so-called rollups remain crucial and already provide significant performance improvements. Opponents contend that excessive dependence on them has dispersed liquidity and users across numerous networks. MegaETH’s high-speed, low-latency architecture positions it directly within that debate, betting on a sustained demand for chains that deliver performance well beyond current standards.
Read more: MegaETH Raises $450M in Oversubscribed Token Sale Backed by Ethereum Founders
