MegaETH Claims to Achieve 1,700 Mgas/s Transaction Speeds on Testnet
MegaETH is an EVM L2 blockchain that settles transactions on Ethereum. It boasts transaction speeds of approximately 1,700 Mgas/s, significantly surpassing major L2 competitors like Optimism (15 Mgas/s) and Arbitrum (128 Mgas/s).
Key features include:
- 10 ms block times validated by its testnet.
- Centralized block production via a single sequencer, reducing latency.
- A custom state tree enhancing write bandwidth by up to 10x.
In December 2024, MegaETH raised approximately $10 million at a $200 million valuation, attracting retail investors. It previously secured $20 million from VCs, including backing from notable Ethereum co-founders.
The ecosystem includes applications such as the GTE DEX, gamified derivatives exchange Euphoria, and a stablecoin protocol named CAP. These apps have reportedly raised more capital than the MegaETH protocol itself, indicating strong investor confidence in their potential.
MegaETH utilizes “Bolt,” an oracle designed for high-speed performance, capable of updating prices every 2.4 ms, aligning with its rapid transaction capabilities.