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The Delphi Podcast
Keone Hon of Monad: 10,000 TPS & Full EVM Equivalence - A New Era for Ethereum Apps
Feb 13, 2024
53:52
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Keone Hon, Founder of Monad, discusses Monad's key technical innovations for high-performance Ethereum-compatible blockchain. Topics include MonadBFT consensus, parallel execution, custom database, achieving 10,000+ TPS, low transaction costs, full EVM equivalence, and attracting developers.
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Quick takeaways
- Monad aims to provide a high-performance and low-cost blockchain platform through technological innovations such as MonadBFT consensus, parallel execution, and deferred execution.
- Decentralization and EVM compatibility are essential aspects of Monad's vision, allowing for a wide range of users to participate in consensus and seamless migration of existing Ethereum smart contracts to Monad.
Deep dives
High performance and low-cost transactions on Monad
Monad is a blockchain platform that aims to provide high performance and low-cost transactions. They have implemented several technological breakthroughs to achieve this goal. First, they have introduced Monad BFT, a high-performance consensus mechanism that allows for linear scaling with the number of nodes. They have also developed Paralyzed Execution, which enables transactions to be executed in parallel, resulting in faster transaction processing. Deferred Execution is another feature that moves execution out of the consensus process, allowing for more time to be allocated to execution. Monad is fully EVM equivalent, meaning that existing Ethereum smart contracts can be easily migrated to the platform without any changes. Monad aims to provide a decentralized network with reasonable hardware requirements for running a full node and a high number of validating nodes for consensus. They believe that their platform can significantly reduce transaction costs and scale to accommodate a large number of users and complex transactions. Monad's focus on EVM compatibility and performance sets them apart and makes them an attractive choice for developers and users seeking cost-effective and high-performance blockchain solutions.
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