Vitalik Buterin, one of the originators of the platform, has shifted his focus to becoming an angel investor in MegaETH, an innovative blockchain endeavor pledging compatibility with Ethereum. MegaETH proudly discloses securing an impressive $20 million in its initial funding round and boasts the backing of notable personalities within the cryptocurrency realm, including Buterin himself.
Centered around an ingenious Layer 2 solution for Ethereum, MegaETH distinguishes itself with robust performance metrics, capable of handling up to 100,000 transactions per second with minimal latency measured in milliseconds. This exceptional efficiency holds the promise of overhauling transaction processing on the Ethereum network, enhancing speed, and alleviating operational bottlenecks significantly.
Da Bing, the mastermind behind MegaETH, took to his Twitter account to announce the funding news, underscoring the confidence and endorsement from esteemed institutional backers like Dragonfly Capital, Figment Capital, and Robot Ventures, alongside individual investors endearingly dubbed as “Mega Angels.”
Expressing immense gratitude towards key supporters including @vitalikbuter, @ethereumJoseph, @sreeramkannan, @cobie, @santiagoroel, @TheRealKartik, @hasufl, @0xMert_, and many others, Brother Bing / Mega-Bing / 饼兄 commemorated their belief in @megaeth_labs in spearheading the movement to “Make Ethereum Great Again.”
June 27, 2024
In tandem with its technical strides, MegaETH presently operates a developmental network and remains entrenched in a vigorous development phase. Employing cutting-edge technologies such as in-memory computing and a novel state testing framework, the project aims at enhancing performance and state synchronization.
Standing out among the technical innovations are the utilization of Rust Ethereum and Alloy Merkle Patricia Trie (MPT), pivotal in enhancing network performance and memory efficiency.
Disclaimer: The viewpoints expressed by the author and any referenced individuals in this narrative serve an informative purpose exclusively and do not represent financial, investment, or any other form of advice. Engaging in cryptocurrency investments or trades carries inherent financial risk.
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