MegaETH mainnet launch blocked for February 9

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Layer 2 Ethereum MegaETH has scheduled its mainnet launch on February 9 following a tough “global stress test” last week aimed at ensuring the high-speed chain is ready for public employ.

“Get ready for the fastest* EVM chain ever,” MegaETH co-founder and CTO Lei Yang sent to Oct on Wednesday after the network was observed processing up to 35,000 transactions per second during the seven-day stress test.

The test involved MegaETH opening up the mainnet to select users to test latency-sensitive applications, while MegaETH developers maxed out the backend chain.

About 10.7 billion transactions were made processed in the chain of Web3 games such as Smasher, Crossy Flufle and Stomp.gg, with one selected user, Simon Dedic, founder and managing partner of cryptocurrency investment firm Moonrock Capital, noting that the applications ran smoothly in real time.

“No delays. No bottlenecks. No UX degradation like almost every other chain. Just apps that run smoothly, in real time”, Dedic he said. “It’s strange to think that MegaETH has already processed more transactions in a few days than Ethereum has in almost 11 years, without compromising the user experience.”

“I don’t know about you, but this is what I want my future to look like on Onchain.”

The 10.7 billion transactions observed in the stress test were just shy of the target of 11 billion set by the MegaETH team.

MegaETH advertises itself as offering sub-millisecond latencies and over 100,000 TPS, making it one of the fastest blockchains in the crypto industry.

It hit 47,000 TPS in earlier tests and then hit 35,000 TPS in stress testing. However, the actual TPS may turn out to be much lower.

Other high-speed networks such as Solana have a theoretical maximum of 65,000 TPS; However, according to Token Terminal, their actual throughput is closer to around 3400 TPS data.

MegaETH is backed by Ethereum co-founders Vitalik Buterin and Joe Lubin, as well as several cryptocurrency venture capital firms including Dragonfly Capital, Figment Capital and Substantial Brain Holdings.

At the end of last year, MegaETH encountered problems with token sales

Not everything went smoothly on MegaETH’s path to mainnet launch.

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In November, MegaETH conducted a pre-depository sale aimed at increasing liquidity and allocating future tokens ahead of the mainnet launch, instead of conducting a established public sale.

It raised $500 million in pre-escrow sales, but later returned the funds after a series of technical and operational errors, including misconfigured systems, a multi-signature transaction mishap and know-your-customer errors.

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