An article explaining in detail what MegaETH real-time Ethereum is

One article explains in detail what MegaETH real-time Ethereum is! MegaETH, an upcoming L2 project dubbed “real-time Ethereum” with sub-millisecond latency and the ability to process over 100,000 transactions per second (TPS), just announced it has secured 20 million at a valuation of over $100 million USD in seed funding!

This star-studded financing was led by Dragonfly Capital, with Ethereum founder Vitalik Buterin, Consensys founder Joe Lubin, Lido/Flashbots head of strategy Hasu, cryptocurrency trader Cobie and EigenLayer founder Sreeram Kannan and other well-known figures participate.

The big names involved brought some attention to the project.

Today, the editor of this site will introduce to you how MegaETH innovates on the contemporary Ethereum Virtual Machine (EVM) blockchain to provide industry-leading performance and decentralization guarantees. Friends who need it can take a look together!

What’s so special about MegaETH

A high-performance alternative to L1 that requires its nodes to perform the same tasks without specialization, creating a fundamental trade-off between performance and decentralization. In contrast, MegaETH leverages Ethereum’s L2 technology to create differentiated roles for nodes with different hardware requirements.

MegaETH decouples transaction processing tasks from full nodes and creates three main roles for infrastructure operators: sequencer, prover, and full node. While actual block production on MegaETH is becoming increasingly centralized, flexible hardware requirements for node specialization ensure trustless block verification and can provide industry-leading decentralization guarantees.

A single active MegaETH orderer will be responsible for ordering and executing user transactions, eliminating the consensus process during normal operations, and will communicate state differences (i.e. changes to the blockchain state) through the peer-to-peer network to full nodes, which will then apply the state differences to update its local status. It is worth noting that MegaETH transactions are not re-executed by full nodes to verify block integrity; instead, they indirectly verify blocks using proofs provided by provers.

Even the highest performing L2 available (BNB’s opBNB) imposes significant limitations on its application. Although opBNB has a relatively high throughput target of 100M Gas per second, opBNB can only handle 650 Uniswap swaps per second compared to modern Web2 databases that can achieve equivalent 1M TPS.

Additionally, these networks tend to have "long" blocking times of over 1 second, which is impractical for applications that require real-time performance (such as high-frequency trading).

While blockchains often turn to one-off solutions such as parallelization in pursuit of scale, enabling transactions involving different parts of the state to be processed simultaneously on multiple CPU cores, the benefits of this particular approach are limited by the The limitation of the fact that dependencies are included results in parallelization yielding only a modest improvement in blockchain speed.

Addressing the bottlenecks of any system alone often fails to produce significant improvements because resolution of the initial limiting factor simply shifts the bottleneck to another component.

Rather than just optimizing a few components of its stack like its competitors, MegaETH aims to identify the numerous issues plaguing existing blockchains and build a new system to solve a series of issues discovered simultaneously.

This ambition requires scaling node hardware to its limits while remaining decentralized (achieved through specialization), and requires creating a system that essentially aims to approach the theoretical performance ceiling of a decentralized blockchain.

To this end, the MegaETH orderer will store its entire state in memory and become the first blockchain to implement in-memory computing, a key feature for high-performance Web2 applications that should enable MegaETH to State access is 1,000 times faster. Alternative solid-state drive storage method used by competitors.

Compute-intensive applications will see a 100x performance improvement on MegaETH thanks to the just-in-time (JIT) compiler, which converts smart contract code into MegaETH’s “native machine code” The group server CPU can directly interpret the instructions and execute them, helping to improve the execution speed and efficiency of smart contracts.

Maintaining the Ethereum Merkle Patricia Trie (MPT), a core data structure that represents the current state and related information of all assets, is the main limiting factor of all EVM implementations, but MegaETH is creating a new state trie from scratch that will Maintain a complete state trie. Compatible with EVM while minimizing disk I/O operations and storing terabytes of state data.

Finally, MegaETH’s 100,000 transactions per second must be propagated to its full node network; an efficient peer-to-peer protocol will deliver state updates from the sequencer with low latency and high throughput, allowing full nodes with moderate connectivity to update at maximum The rates remain synchronized.

Conclusion

MegaETH’s significant performance improvements over contemporary EVM implementations should significantly drive adoption of L2 performance and ultimately lead to decentralized blockchains capable of handling the real world!

While some believe that MegaETH is best suited as a competitor to the Ethereum ecosystem that is not interested in the base layer, the optimization that MegaETH achieves is entirely through its outsourcing of security and censorship resistance to existing decentralized networks such as Ethereum (Fang and EigenLayer) capabilities.

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