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Monad is a prospective EVM-equivalent Layer-1 blockchain(PoS) that aims to bring about a “decentralized computation platform that combines the best of performance and portability” offering 10,000 TPS. So it’s Ethereum on steroids. Now one begins to wonder how is this achievable? PEDs?? Maybe
After doing some extra readings, I found out that they plan to accomplish full compatibility with the Ethereum Virtual Machine (EVM) bytecode while maintaining a high throughput(10,000TPS) not through PED usage but through rigorous training, optimizing the EVM processing capabilities in areas like:
• Asynchronous execution (separating execution from consensus)
• Parallelization of execution
• Intelligent transaction sequencing
• Optimized contract/state storage
• Compiler optimizations
For further reading:
This leaves us thinking “How do they compare to existing scaling solutions like rollups and other L1s?”
An admin in the discord answered this saying, “rollups settled on Eth are limited by Eth's call data limits, which are about 4000 tps after EIP-4488 (and even lower now) that's an aggregate number across all rollups, it's not like each one gets 4000;
rollups fundamentally need DA(data availability); they are accepting centralization on the sequencer which introduces the risk of that one sequencer disappearing or getting hit by lightning or whatever, and the tradeoff is that they need to push their transaction data onto some other layer”
Against other L1s? “Monad is EVM-compatible…We've focused on minimizing disruption for EVM devs and users. We've rewritten both consensus and execution to deliver efficient, pipelined transaction processing. Others haven't done that to my knowledge
In essence, …”the main value-add is throughput (beyond what we expect Eth-DA rollups to offer in aggregate) plus decentralization”
A discord AMA was held on the 13th of January 2023 and a Chad was thoughtful enough to keep Notes that contain a well detailed summary of answers to important questions like key features like parallel processing is executed and more.
On the case of the need of a higher throughput, read this article: 🦺EVM scalability: the case for radically higher throughput
To get to understand EIP-4488 better:
Vitalik Buterin has helped author a new Ethereum Improvement Proposal that seeks to lower gas fees on Ethereum Layer 2 solutions.
Who are the people on the team?
At the time of writing, the team consists of nine members whose “…collective experience in low-latency programming and distributed systems design runs deep, with decades under our belt across high-frequency trading, writing ruthlessly optimized code at scale, building enterprise-level solutions in finance, networking, and other industries.”
Now I know that you all crypto-natives and optimizoors might start asking questions like who’s backing these chads? the optimizoors would ask “wen testnet? I need to see this for myself” To answer the optimizoors, the testnet is scheduled for first quarter(Q1) 2023 and it would be private; public would likely come out Q2 or Summer. As for backing, the details are not public yet but they say that they are venture-backed.
How and where do they fit in the general picture?
This is yet to be thoroughly established. But one thing I see is that they aim to take the thing we’ve come to know and trust(Ethereum) and make it better by making marginal improvements that compound.
Let’s see how this story plays out.
Subscribe to get more articles like this:
You can also collect this piece here on Mirror:
Monad is a prospective EVM-equivalent Layer-1 blockchain(PoS) that aims to bring about a “decentralized computation platform that combines the best of performance and portability” offering 10,000 TPS. So it’s Ethereum on steroids. Now one begins to wonder how is this achievable? PEDs?? Maybe
After doing some extra readings, I found out that they plan to accomplish full compatibility with the Ethereum Virtual Machine (EVM) bytecode while maintaining a high throughput(10,000TPS) not through PED usage but through rigorous training, optimizing the EVM processing capabilities in areas like:
• Asynchronous execution (separating execution from consensus)
• Parallelization of execution
• Intelligent transaction sequencing
• Optimized contract/state storage
• Compiler optimizations
For further reading:
This leaves us thinking “How do they compare to existing scaling solutions like rollups and other L1s?”
An admin in the discord answered this saying, “rollups settled on Eth are limited by Eth's call data limits, which are about 4000 tps after EIP-4488 (and even lower now) that's an aggregate number across all rollups, it's not like each one gets 4000;
rollups fundamentally need DA(data availability); they are accepting centralization on the sequencer which introduces the risk of that one sequencer disappearing or getting hit by lightning or whatever, and the tradeoff is that they need to push their transaction data onto some other layer”
Against other L1s? “Monad is EVM-compatible…We've focused on minimizing disruption for EVM devs and users. We've rewritten both consensus and execution to deliver efficient, pipelined transaction processing. Others haven't done that to my knowledge
In essence, …”the main value-add is throughput (beyond what we expect Eth-DA rollups to offer in aggregate) plus decentralization”
A discord AMA was held on the 13th of January 2023 and a Chad was thoughtful enough to keep Notes that contain a well detailed summary of answers to important questions like key features like parallel processing is executed and more.
On the case of the need of a higher throughput, read this article: 🦺EVM scalability: the case for radically higher throughput
To get to understand EIP-4488 better:
Vitalik Buterin has helped author a new Ethereum Improvement Proposal that seeks to lower gas fees on Ethereum Layer 2 solutions.
Who are the people on the team?
At the time of writing, the team consists of nine members whose “…collective experience in low-latency programming and distributed systems design runs deep, with decades under our belt across high-frequency trading, writing ruthlessly optimized code at scale, building enterprise-level solutions in finance, networking, and other industries.”
Now I know that you all crypto-natives and optimizoors might start asking questions like who’s backing these chads? the optimizoors would ask “wen testnet? I need to see this for myself” To answer the optimizoors, the testnet is scheduled for first quarter(Q1) 2023 and it would be private; public would likely come out Q2 or Summer. As for backing, the details are not public yet but they say that they are venture-backed.
How and where do they fit in the general picture?
This is yet to be thoroughly established. But one thing I see is that they aim to take the thing we’ve come to know and trust(Ethereum) and make it better by making marginal improvements that compound.
Let’s see how this story plays out.
Subscribe to get more articles like this:
You can also collect this piece here on Mirror:
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Monad: Super Saiyan Ethereum?