Recent News on MegaETH
On February 4, Yilong Li, Co-founder and CEO of MegaETH, announced that MegaETH will launch a public testnet within 30 days. Additionally, on February 5, MegaETH announced the launch of the NFT collection The Fluffle, with a total of 10,000 pieces, representing at least 5% of the MegaETH network.

Introduction to MegaETH
MegaETH boasts high throughput, rich computational power, and millisecond-level response times even under heavy loads. Its goal is to push the performance of Ethereum Layer 2 to the hardware limit, narrowing the gap between blockchain and traditional cloud computing servers. It employs Rollup technology to compress and submit transaction data to the mainnet, ensuring security and decentralization.

In summary, MegaETH can be encapsulated by one familiar word—fast. Simply creating more chains does not solve the scalability issues of blockchain. MegaETH has three main roles: sequencer, prover, and full node, to address the traditional blockchain bottlenecks.

How MegaETH Works
MegaETH leverages Ethereum's security, Optimism's fault-proof system, and optimized sequencer. It achieves real-time performance through two key technologies: heterogeneous blockchain architecture and an ultra-optimized EVM execution environment. MegaETH has three roles:

1. Processing and Ordering: Transactions submitted by users are first sent to the Sequencer, which processes these transactions in order, generating new blocks and witness data.

2. Data Publishing: The Sequencer publishes the generated blocks, witness data, and state differences to EigenDA (data availability layer), ensuring that these data are available on the network.

3. Block Validation: The Prover Network retrieves blocks and witness data from the Sequencer, validates them using dedicated hardware, generates proofs, and returns them to the Sequencer.

4. State Update: The Fullnode Network receives state differences from the Sequencer, updates the local state, and can verify the validity of blocks through the Prover Network, ensuring the consistency and security of the blockchain.

MegaETH Team
Shuyao Kong noted that the current MegaETH team consists of no more than 20 members, all of whom are seasoned users of Web3 products. A significant reason for attracting the attention of institutions like Dragonfly Capital is the luxurious founding team.

• Yilong Li: Co-founder and CEO, holds a Ph.D. in Computer Science from Stanford University and has worked at Runtime Verification Inc.

• Yang Lei: Co-founder and CTO, earned a Bachelor's degree in Computer Science from Peking University in 2018, a Master's degree from MIT in 2020, and recently obtained a Ph.D. in Computer Science from MIT. He is a member of the MIT CSAIL Network and Mobile Systems Group. His doctoral thesis is on effective consensus and synchronization in distributed systems.

• Shuyao Kong: Co-founder and CBO, joined Consensys in 2017 and served as the Global Head of Business Development at Consensys. She graduated from Harvard Business School in 2020 and joined MegaETH in March 2024. She is also a columnist for Decrypt.

• Namik Muduroglu: Founding member and Head of Growth, has worked at Consensys and Hypersphere.

MegaETH Funding
In June 2024, MegaETH raised $20 million in a seed round led by Dragonfly Capital, with participation from Figment Capital, Robot Ventures, Big Brain Holdings, and others, including Vitalik and Cobie.

In November 2024, MegaETH developer MegaLabs completed a $10 million funding round through the Echo platform.

MegaETH Future Summary
Recently, MegaETH launched The Fluffle, a total of 10,000 pieces, each priced at 1 ETH, representing at least 5% of the MegaETH network ownership with a dynamic adjustment mechanism. Additionally, MegaETH team members will not hold this series of NFTs. The soul-binding mechanism means they are non-transferable and will not have price differentials like BAYC. MegaETH promises holders will receive at least 5% of the tokens, based on the existing airdrop points plan.

As a Layer 2 of Ethereum, MegaETH focuses on improving single-thread performance rather than relying solely on parallelization. It employs a single active sequencer to handle all interactions, a design that not only reduces execution redundancy but also lowers hardware requirements for full nodes.