The fact is that almost every project beats its chest and says that it plans to take first place in one industry or another, but out of hundreds or even thousands of similar projects in each cycle, only a few achieve what they say.

You may ask, how then does MegaEth differ from all its loud-speaking predecessors?

And the answer is on the surface — the attention of influential people in the WEB3 world. This is the first thing we pay attention to, the second is the project team.

The thing is that it is not difficult to come up with a description of the technology and a planned implementation, but if the project is a dummy it will not find its followers from the WEB3 world. In the MegaEth project, everything is just the opposite. And now we will prove it to you.

1. Let’s get started, let’s start with investment rounds.

Because already here we feel all the influence of the most important people of Cryptocurrency

• The first round featured some angels like Vitalik Buterin (hopefully we don’t have to explain who he is), Sreeram Kannan (CEO EigenLayer), Joseph Lubin (CEO ConsenSys), Kartik Talwar (Co-Founder ETHGlobal), Santiago R Santos and Mert Mumtaz, some of our favorite Twitter influencers. (We’ll write about the second round in Part 2.

Not a bad Seed round huh? :) We actually see the creator of Ether lobbying for the scalability of Ether in the face of this project, what other greener flag could there be if not this one?

• The second one we will describe the team and draw the line. The Co-Founders are Lei Yang, who is also a co-founder of MegaLabs, which is developing MegaEtH, Shuyao Kong, who is also the current Head of Global Business Development at Consensys. COO is Laura Shi, who is also the former Head of International Expansion at Consensys. Yilong Li is a Co-Founder.

Looking at all this interweaving of the most important people from the world of web3 we want to ask if we do not trust them, then who?We have mentioned more than once and will continue to say that first of all these are people, their competence and reputation, the rest is less important for us, because any industry can be improved and who else but competent people can do it! We completely trust this stack of people

2. What does MegaETH offer to the average user?

The thing is that MegaETH plans to do what any of the Layer 2 solutions want to do, namely, provide throughput up to the web2 level. But how it plans to do this is much more interesting. We are convinced of the team and investors and their reliability. Now let's go over the proposed technologies. The MegaETH team is trying to solve several key problems that are typical for most blockchains, primarily the complexity of scaling and limited computing resources. The main task is to eliminate throughput limitations, which even in relatively modern networks like Solana is limited to about 3000 TPS.

Another area of ​​work is to reduce the time it takes to update the state of the network. The team has managed to achieve a latency of 100 milliseconds, while most other blockchains have a latency of several seconds.

We could start to delve into all the complexities, but let's try to explain clearly how it worksSince we are a nodraner community and the architecture is based on several types of specialized nodes:

• Sequencer - Responsible for executing transactions. (MegaETH only supports one active sequencer at any given time)

• Full Nodes - Receive transaction processing results from the sequencer and update their local databases

• Verifiers - Verify transactions and blocks, generating proofs of correctness for full nodes.

When a user initiates a transaction, it is first sent to a full node, which forwards it to a sequencer. Once processed, the sequencer passes the updated blockchain state back to the full nodes for synchronization.

The technical innovation of the blockchain is the use of RAM to store the entire state. Due to this, MegaETH can process requests faster than traditional solutions limited by the speed of SSD drives. We were also impressed by the technical characteristics such as 10 gb/s, which should reduce ping "it's like a CDN solution, which we were very surprised about"

MegaETH is designed to support decentralized applications that require high performance and responsiveness when interacting. In an interview with Bankless, Lei Yang noted that the main areas of application for the network could be “real-time applications” such as high-frequency trading platforms or blockchain gaming.

Conclusions:

MegaETH is planning to make a huge step in decentralization of the web3 world. We have every reason to trust the people building this project and those who support it and we can observe and participate in their activities in real time, help, contribute and develop together with them.

Of course, the project has both admirers and "haters" or simply those who do not believe in the success (we will talk about this in the second part of our "documentary analysis") of their technology and the future project, and this is great, since it gives us a chance for critical thinking and consideration of the project's technologies from the side of doubt and the reality of the implementation of the planned functions.

We did a small analysis of the MegaETH community and you can say for sure that these are real DEFI enjoyers / degens
We are also incredibly impressed by the approach to the community, the project makes it clear that it does not need sybils and carefully selects the community. We liked the quiz for 1000 people with questions about cryptocurrency starting from 2017, where members of our team have already managed to get a place.

At the moment, we can confidently say that we absolutely like this project and we put it on the shelf of TIR1 projects 2024-2025 next to Ritual. It will be interesting further, see you in the second part!

Finally, we would like to thank you for the information:

• Vlad Shevchenko

• MegaEth Research

• Calvin Breezy