MegaLabs, the developer of a new blockchain called MegaETH, has raised $20 million in a seed funding round at a '9-figure' token valuation.
MegaLabs, the developer of a new blockchain called MegaETH, has raised $20 million in a seed funding round.
Dragonfly led the seed round, with Figment Capital, Robot Ventures, Big Brain Holdings and others participating, MegaLabs said Thursday. Angel investors, including Ethereum co-founder Vitalik Buterin, ConsenSys founder and CEO Joseph Lubin, EigenLayer founder and CEO Sreeram Kannan, ETHGlobal co-founder Kartik Talwar, Helius Labs co-founder and CEO Mert Mumtaz, Santiago Santos, Hasu and Jordan Fish, aka Cobie, also joined the round.
MegaETH dubs itself as the first "real-time blockchain" with full Ethereum compatibility. Real-time here means MegaETH is capable of processing transactions "as soon as they arrive and publishing the resulting updates in real-time," Kong said. "Further, it must support high transaction throughput and substantial compute capacity to maintain the real-time experience even during peak user demand," she added.
Specifically, MegaETH's two key techniques — a heterogeneous blockchain architecture and a "hyper-optimized" EVM execution environment — help it achieve 100,000 TPS in real time, the project said.
Crypto Ecosystems Crypto Infrastructure Deals Layer 1S Layer 2S And Scaling Startups Tech Venture Capital Ethereum Optimism Seed &Amp Pre-Seed
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