Discover how the Monad blockchain is revolutionizing the EVM to achieve an impressive 10,000 transactions per second thanks to its efficient parallelization!
Introduction to Monad and its co-founders
Recently, the Monad project successfully raised $255 million from investors such as Paradigm and Electric Capital. This funding has allowed the three co-founders, Keone Hon, James Hunsaker, and Eunice Giarta, to share their vision for the Monad blockchain, a layer 1 blockchain. These entrepreneurs have a strong background in trading systems, having worked for Jump Trading and Bank of America Merrill Lynch.
Monad Labs, the team behind this project, consists of about 40 people. Their goal is to optimize the network to make it the fastest on the market. Aiming to outperform giants like Ethereum and Solana, the founders designed Monad to execute up to 10,000 transactions per second.
Parallelization technologies employed
One of Monad’s major assets lies in its ability to execute transactions in parallel, an innovation that enables it to achieve remarkable performance.
Unlike Ethereum, where transactions are executed linearly, Monad utilizes what is called Optimistic Execution. This technique involves starting the execution of transactions even before the previous ones are completed. This significantly increases the speed of operations.
To ensure the validity of transactions, Monad has implemented a control system. If two transactions are dependent on each other and the data diverges, the incorrect transaction is re-executed, this time with the correct data.
The superscalar pipelining architecture
Monad also employs a method called superscalar pipelining, which breaks transactions down into smaller steps. These steps are then executed simultaneously. The parallel processing of grouped actions drastically reduces processing time.
A simple comparison to understand this method is doing laundry. Instead of washing, drying, folding, and putting away one load before starting another, pipelining allows you to start the second load as soon as the first one is drying. This approach optimizes the use of available resources.
Compatibility with the EVM
Monad has chosen to remain compatible with the Ethereum Virtual Machine (EVM). This strategic decision allows applications developed on Ethereum to run on Monad without requiring code changes.
Additionally, this compatibility provides the advantage of using well-established tools such as MetaMask and Etherscan, as well as the reuse of Ethereum addresses on Monad, making the transition smooth and transparent for users.
Performance and hardware requirements
In terms of performance, Monad aims to double Solana’s transaction capabilities and offers a block time of one second along with near-instant finality. The Monad network utilizes a Proof of Stake architecture called MonadBFT, a derivative of the HotStuff protocol.
To operate a full node on Monad, it is necessary to have a 16-core CPU, 32 GB of RAM, 2 TB of SSD storage, and a bandwidth of 100 Mbit/s. These hardware specifications, while high, remain more accessible compared to what Solana requires.
Development stages and future of Monad
Currently, Monad’s performance remains theoretical as the mainnet has not yet launched. The testnet is expected in the coming months, but no exact date has been revealed. In the meantime, several Devnets have been set up internally to test the technology stack.
The future of Monad looks promising thanks to an active and engaged community. However, success will depend on Monad’s ability to deliver these performances in a real testing environment and to maintain a balance between performance and decentralization.
