jakiro
Original Author: Thor, Compilation: LLAMAC
“Recommended message: EVM has always been the pioneer of blockchain virtual machines, and has become the most commonly used virtual machine for many years. It has witnessed famous innovations such as CURVE, Uniswap, and Maker.The limitations of programming language, the complexity of Solidity, and sequential treatment have led to the rise of Altvm (replacement virtual machine).Community culture is the biggest highlight of other ALTVM projects./The efficiency (convenient) of citizen services is to evaluate the assessment dimension.
Monad is the first (L1) blockchain that is about to launch later this year.Although it has not yet launched, Monad has accumulated a huge community, reaching a status of almost similar cults. Members have even created their own pets and posted several mixing bands on SoundCloud.Monad stands out with its goal to become a highly scalable single large L1 blockchain. It is compatible with EVM and can handle more than 10,000 transactions per second. The block time is 1 second.This scalability performance is due to parallel execution and Monad DB technologies.With safety and decentralization, Monad raised $ 19 million in seed wheel financing, led by Dragonfly, and participated in Placeholder, Shima Capital, Lemniscap, Cobie and so on.On April 9, Monad Labs completed US $ 225 million in financing led by Paradigm.
Monad’s origin story
Monad has been developed for about two years and was founded by Keone Hon, James Hunsaker and Eunice Giarta.Keone and James are two co -founders of technology and have worked together for eight years in Jump Trading.Sitting on the same high -frequency trading desk and competing with 20 other teams inside JUMP, Keone and James can be among the best for many years, promoting the nominal transaction volume of more than $ 10 trillion each year, and thousands of transactions per second.At this level of transaction volume, Keone and James experienced the differences in the execution of microseconds.After entering the encryption field, Keone is engaged in Solana Defi, and James is building Pyth.After being aware of the possibility of implementing a series of fundamental optimizations of EVM, they began to build Monad in 2022. These optimizations have become standard in high -performance computer sciences in the past 20 years, but they have not been applied to EVM.By introducing these components, you can create a higher performance EVM to solve many current expansion bottleneck problems.
“They are the first batch of people to promote parallel EVM. They understand it better than anyone in the current encrypted field. There is no doubt, I think other chains currently claim to have parallel EVM. Monad will be one and a half years ago.It has been completed.
Monad’s technology stack
It turns out that parallelization is not just a popular word/narrative, it can achieve scalable and efficient execution.Monad is scalable and can handle more than 10,000 transactions per second. It is not just a parallel execution engine.
I think that many people think that parallel execution is a natural product that produces a role, that is,: “If you can add parallel execution to EVM, then suddenly its performance will be greatly improved.”But this is not actually the case.Individual parallel execution does not actually have much effect in the creation of higher performance EVM.Monad truly implemented parallel execution, combined with other optimizations, unlocked a lot of performance in parallel execution.Let’s disassemble it separately:
Parallel execution
It refers to the ability to perform multiple tasks at the same time, not one after another (sequentially).Although parallel processing may be more complicated, it can significantly reduce the processing time and improve efficiency by allocating workloads between multiple processors:
Sequence execution and parallel execution
Monad uses parallel execution to allow multiple transactions at the same time.It is worth noting that the Monad block is still a linear and orderly transaction collection like Ethereum.
Monad uses Optimistic, which means that the chain will begin executing transactions before the completion of early transactions in the block.In order to avoid errors and incorrect execution, the status of the transaction will be merged in the block to ensure correctness.
Monaddb
If there is no state database allowing parallel reading and writing to disk, then the parallel execution engine has little effect on the improvement of the blockchain performance.Let’s look at one example:
Sequential execution (Ethereum): Imagine a bicycle lane highway. There is a separate toll station that allows a car to pay the toll at one time and pass.
Parallel execution: There are 20 lanes and 20 toll stations on the highway, but they can only pass one car once.So if a car is through toll stations 1, then the vehicle of the toll station 2 or 3 will have to wait.
Portal execution and parallel database: All 20 toll stations can be used at the same time, and 20 cars on different lanes can be passed at the same time.
Monad DB (Monad database) is the key to unlock parallel processing and chain fast final/high TPS.
Asynchronous execution and consensus
Currently in the Ethereum block, the execution occurs within 1/10 seconds, and then the next 11.9 seconds are consensus.What Monad does is separate this, so that you do not have 12 seconds of blocks and 1/10 seconds of time for execution. Now you have two independent lanes, so you can use the entire budget of the block forimplement.Imagine that if Ethereum has 12 seconds of execution time per block, not 1/10 seconds.This is a 100 -fold growth.This is a very standard matter. Many people have been implemented in computer science for a long time, but it does not currently exist in EVM.So this is another big unlock.”
“All these are the key to truly gain. Only in order to allow it to actively operate and reach the throughput of 10,000 transactions per second.”
All these, plus complete EVM compatibility, make Monad stand out in the competition.Any EVM protocol can be easily deployed on Monad and uses an efficient execution environment.
What applications can be built on Monad?
List of projects that have been promised on Monad
The technology stack has been introduced, let us explore the upcoming Monad ecosystem.Generally speaking, all protocols benefit from the enforcement of improvement, that is, faster endability and more TPS.However, there are some specific applications that can be unlocked by fast chain such as Monad to achieve mutation -type progress.
One of the most obvious cases is the transaction protocol.Especially for the order book DEX (spot and futures) on the chain, it will be attractive to build on Monad.The history of the order book has always been centralized (Bybit, Binance, Coinbase, etc.). Although they provide deep liquidity, the cost is relatively high, and there are risks that lack self -custody.The AMM model is widely used by GMX, GAINS, Synthetix, etc., which allows self -custody on the chain, but the liquidity may be limited, resulting in poor execution and smoothing point.Therefore, the decentralized order book exchange on the chain is therefore considered to provide the best combination of two worlds.However, compared with its having to start a customized application chain for efficient execution, the order book DEX can be seamlessly deployed on Monad, and Monad is compatible with EVM throughout the stack.
One of the early builders on Monad is the Elixir protocol, which is a commissioned network that provides liquidity for various order book transactions.With Elixir, users can deposit liquidity into various insurance libraries in the order book trading market.Elixir is currently active on Vertex and RabbitX, and plans to launch on the platforms such as Injective, Dydx, Bluefin, Monad.
In addition, the native Monad content platform The Pipeline recently conducted a podcast interview with Pike Finance. Pike Finance expressed his early excitement on Monad later this year.Pike Finance is a full -chain currency market driven by Wormhole, Circle and Pyth. A few days ago, their Beta version was launched on various EVM chains.
Another case is a large -scale chain game that requires high throughput to operate normally.”I think the game sounds very good on the paper. You have this complete virtual economy and world, but you really need the performance of the underlying basic layer to allow it to have one million active users a day. One example is you with youFriends play “Fortress Night” together, if only 500 people can play at a time, then it is not so interesting.. In terms of games, we allow the game to expand from hundreds of active users at any given time to millions.
Monad seems to be discussing the problem of building and enabled real high throughput games on the chain with the game studio.
Roadmap
Monad is expected to be launched on the main network at a certain time later this year, which may be the third quarter.Therefore, although it is still an early stage for this chain, the internal test network (an internal test network) is about to be launched.
There are already a large number of existing EVM protocols to be interested in. They hope to use high scalability and EVM compatibility to receive Monad, but some teams hope to build native applications on the Monad blockchain.In addition, Monad has recently announced the partnership with Layerzero, which will make the bridge connection liquidity easier to the ecosystem.
Given the huge interest from the community and developers, the hype around Monad may continue to grow, and it will be launched until the public test network and the main network later this year.
Conclusion
In a world launched almost every day, Monad stands out with its scalable technology, very capable teams and cults -like communities.Since Monad is a single chain, I think its closest competitor is Solana, perhaps SUI.However, many different extensions are trying to obtain (Rollups App-Chains, Modular Stacks, etc.).Therefore, it is very interesting to see if Monad can attract liquidity, users and developers in this highly competitive infrastructure environment, but with great expectations, this seems possible.Although Monad is still early, understanding the latest situations in its ecosystem will make things more interesting.
