While layer 2s monopolize the attention of investors, layer 1s are being built directly. This is the case of Monad, a blockchain promising 10,000 transactions per second and a block finalization time of one second, all with EVM compatibility, and which has just launched its public testnet.
The Monad blockchain has launched its testnet
Layer 2, carried by Base, Arbitrum or the Optimism Superchain, has attracted the attention of the ecosystem for a while now, the latter responding to the scalability concerns of the Ethereum blockchain on which they are based.
However, so-called layer 1 blockchains, such as Solana or Sui, are doing well and manage to offer remarkable performance while ensuring reduced costs, an essential condition for attracting users.
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Today, a new competitor is entering the layer 1 market: Monad, which recently launched its public testnet. It is a blockchain compatible with the Ethereum Virtual Machine (EVM), which therefore offers complete compatibility with the Ethereum ecosystem.
Monad promises performance of the order of 10,000 transactions per second (TPS) with 1 second block completion timein particular thanks to parallel execution, which allows several transactions to be processed at once rather than sequentially.
Although its TPS count is lower than Solana or Sui, Monad stands out with EVM compatibility. “ Monad is the fastest, least expensive and most censorship-resistant EVM-compatible Layer 1, » according to the project documentation.
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Comparative table of the specificities of the main layer 1 blockchains with Monad
According to data from CryptoRank, Monad has raised $244 million to datewith the participation of ecosystem giants such as Paradigm, OKX Ventures and Dragonfly Capital.
Other layer 1 blockchains are currently in a testnet period, such as Berachain, HeLa and Supra.
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Source: CryptoRank
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