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Monad is a high-performance, EVM-compatible Layer 1 blockchain designed to address scalability and performance limitations in existing networks like Ethereum. It offers a seamless transition for Ethereum developers, enabling them to leverage Monad's enhanced throughput and efficiency without altering their existing codebases.
Monad recently launched its testnet, with mainnet coming soon. In this post we’ll dive into what Monad is, the benefits to building on Monad, and how to get started on Monad with 0x today.
What is Monad?
Monad is a Layer 1 blockchain that maintains full compatibility with the Ethereum Virtual Machine (EVM), allowing developers to deploy existing Ethereum smart contracts without modification.
Its architecture is built from the ground up to support high throughput and low latency, targeting up to 10,000 transactions per second (TPS) with sub-second finality. This performance is achieved through advanced features like parallel execution and a pipelined consensus mechanism known as MonadBFT.
Why build on Monad?
Monad offers a number of benefits for Web3 developers, including:
- Seamless EVM Compatibility: Developers can utilize existing Ethereum tools, libraries, and wallets, facilitating easy migration of decentralized applications to Monad.
- High Throughput and Low Latency: Monad's architecture supports up to 10,000 TPS and rapid transaction finality, enabling responsive user experiences and supporting high-demand applications
- Near-Zero Gas Costs: By increasing network capacity and efficiency, Monad drastically lowers transaction fees compared to traditional EVM chains. This enables developers build DeFi products, such as orderbooks, that are cost prohibitive on Ethereum.
- Enhanced Scalability: The platform's parallel execution model allows for better scalability, accommodating a growing number of users and applications without compromising performance.
What makes Monad different?
While Ethereum is transitioning to sharding and Layer 2 solutions to address scalability, Monad offers a high-performance Layer 1 alternative. Compared to Solana, which uses a unique runtime and consensus mechanism, Monad provides a familiar environment for Ethereum developers due to its EVM compatibility. Here's what sets it apart:
- Parallel Execution: Unlike Ethereum's sequential processing, Monad executes multiple transactions simultaneously, significantly boosting throughput.
- MonadBFT Consensus Mechanism: This pipelined consensus protocol enhances efficiency and reduces communication overhead, contributing to faster block finalization.
- Optimized Storage with MonadDb: Monad employs a specialized database layer designed for high-speed transaction processing and efficient state management.
- Deferred Execution Model: By decoupling transaction execution from consensus, Monad allows for more flexible and efficient processing of transactions.
Monad represents a significant advancement in chain tech, offering a scalable and efficient platform for decentralized applications. Its compatibility with the EVM ecosystem, combined with its high-performance architecture, positions it as a compelling choice for developers seeking to build the next generation of Web3 applications.
Start building on Monad with 0x
0x is live on Monad testnet and will support mainnet from Day 1. Swap API makes it easy to access deep liquidity from 130+ exchanges at the best prices and the smoothest trading experience.
Developers looking to embed swaps on the most performant EVM chain in their app can start building with Swap API on Monad testnet today. For comprehensive documentation and resources, visit https://0x.org/docs .
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