MegaETH is an EVM Layer 2 blockchain designed to settle transactions on Ethereum at unprecedented speeds, boasting up to 1.7 gigagas/s (1,700 Mgas/s) on its testnet. This performance far surpasses major competitors like Optimism and Arbitrum. MegaETH achieves its low latency of sub-10ms by employing a centralized block production method with a single sequencer, foregoing traditional decentralized node consensus. Additionally, it utilizes a custom state tree, enhancing write bandwidth dramatically while compromising on full EVM equivalency. In terms of funding, MegaETH has attracted significant retail investment, including a recent $200 million round and an impressive NFT sale, reflecting a strong community alignment. The ecosystem is thriving with innovative applications like the GTE DEX and Euphoria, which capitalize on MegaETH's speed; notably, the Bolt oracle by RedStone provides rapid price updates, crucial for dApps operating on this high-performance chain.

Source 🔗