With its quick developments in NFTs, DeFi initiatives, and the opening of its public testnet, Monad is revolutionising the blockchain space. Monad is revolutionising blockchain technology with its remarkable speed, scalability, and smooth EVM compatibility.
Launch of the Monad Public Testnet
On February 19, Monad’s public testnet became live, marking a significant milestone.
Monad is currently giving developers and users the chance to test out its state-of-the-art features prior to its official mainnet launch, which is planned for late 2025, after successfully completing its closed testnet phase at the end of 2024.
The testnet’s remarkable gas limit of 300M gas/s, which is intended to achieve a throughput of 10,000 transactions per second (TPS), is one of its main features. Developers may now test the efficiency of transaction processing, deploy decentralised apps (dApps), and evaluate Monad’s performance in the real world.
Concerning Monad
Monad is a Layer-1 blockchain that preserves decentralisation while enabling quick, affordable transactions.
Compatibility with current developer libraries, end-user wallets, and smart contracts is guaranteed by Monad, which was created to supplement the Ethereum Virtual Machine (EVM). To effectively manage heavy traffic, the blockchain uses sophisticated concurrency techniques including parallel processing and a specialised database layer.
Benefits for Developers and EVM Compatibility
Monad’s complete compliance with EVM bytecode is one of its best qualities.
Because of this, developers of Ethereum apps can switch to Monad without having to make major changes to the source code. Decentralised apps like blockchain games, NFTs, and DeFi projects can easily interact with Monad’s ecosystem thanks to this compatibility, avoiding any significant technological obstacles.
Considerable Industry Support and Funding
Monad has obtained significant funding to hasten its advancement and uptake.
The project raised an incredible $225 million in a Series A fundraising round led by Paradigm and supported by Coinbase Ventures, OKX Ventures, GSR Ventures, and DragonFly Capital. This investment demonstrates the faith in Monad’s goal for a high-throughput blockchain that is compatible with EVM.
Monad NFT Ecosystem Growth
The ecosystem of Monad is expanding significantly due to a rise in NFT initiatives that provide airdrops and whitelist places.
One of the most eagerly awaited projects is Lil Chogstars, a PFP series based on “Chog,” which is creating a lot of excitement in the neighbourhood because to its eye-catching artwork.
Supported by Monad’s co-founder, Monadverse is another fascinating project that includes the much anticipated Monanimals series. This collection is becoming more well-known as a significant force in the Monad NFT market.
Other noteworthy initiatives are Spiky Nads, an NFT collection in the manner of pixel art that provides active users with whitelist opportunities, and Monadians, a futuristic PFP project run by Monad community members.
Monad is establishing itself as a blockchain technology pioneer with the launch of its public testnet and a growing network of creative initiatives.
