How to Build the Fastest Onchain Experience With Monad, Sei, and Eclipse - Ep. 694
Aug 27, 2024
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Keone Hon, Co-founder and CEO of Monad Labs, aims to revolutionize blockchain with high-throughput technology. Jay Jog, Co-founder of Sei Labs, focuses on creating a speedy EVM blockchain influenced by the GameStop saga. Vijay Chetty, CEO of Eclipse Labs, merges Ethereum and Solana to improve transaction capabilities. They delve into parallelized EVMs, the strategic pivots of Sei, and the modular vs. monolithic architecture debate, all while discussing how their innovations craft the future of high-speed decentralized finance.
Monad Labs leverages a custom state database and optimistic parallel execution to significantly enhance throughput and efficiency in high-throughput blockchains.
Sei's strategic pivot from Cosmos to EVM enhances its performance, positioning it as a leader in speed among competing chains like Solana.
Eclipse combines elements from Ethereum and Solana within a modular architecture, aiming to create a scalable solution that caters to diverse developer needs.
Deep dives
Token 2049 Singapore: A Major Crypto Event
The episode highlights the upcoming Token 2049 Singapore event, scheduled for September 18-19, which is set to be the largest crypto gathering to date. Featuring prominent figures such as VoloG's Rini Basan and Richard Tang alongside 300 other speakers, the event aims to connect 20,000 attendees. This festival emphasizes the importance of community engagement within the crypto space and offers promotional discounts for early registrants. The episode encourages listeners to explore the robust agenda and networking opportunities available at the event.
Mantle's Emeth and Staking Innovations
Mantle's Emeth is now recognized as the fourth largest liquid staking token (LST) with a total value locked (TVL) of $1.3 billion. Emeth not only provides native ETH proof-of-stake yields but also offers users additional incentives through airdrops and exclusive rewards from partnerships, such as Eigen and Cook. This innovative approach to staking aims to enhance user engagement and loyalty within the ecosystem. Users are encouraged to explore these opportunities to maximize their staking rewards.
Advancements in Blockchain Technology: EVM Parallelization
The episode introduces the concept of next-generation parallelized Ethereum virtual machines (EVMs) that aim for high scalability through innovative architectures. Interviews with co-founders from Monad, Say, and Eclipse underscore the distinct methodologies utilized by each blockchain for improving performance. Monad utilizes a pipeline architecture promising up to 10,000 transactions per second, while Say focuses on enhancing the EVM’s throughput performance. Eclipse, as an EVM Layer 2 solution, leverages the Solana virtual machine (SVM) to enable high transaction performance while settling on Ethereum, exploring the trade-offs associated with each framework.
Monad's Architectural Improvements
Monad Labs prioritizes maximized performance through a combination of innovative software architecture designed from the ground up. Key developments include a custom state database for efficient state access, optimistic parallel execution for running multiple transactions simultaneously, and asynchronous execution to utilize full block time effectively. These enhancements aim to address the growing bottleneck of state access in traditional Ethereum systems by optimizing the interactions of data storage and execution. By ensuring that the transactions still conform to Ethereum's order, Monad guarantees the integrity while significantly improving efficiency.
The Unique Approach of Eclipse Labs
Eclipse Labs operates as a Layer 2 solution on Ethereum, utilizing the Solana virtual machine to offer a distinct execution experience. This model is anticipated to provide a scalable and cost-effective environment for developers looking to build on Ethereum while maintaining high throughput. By partnering with Celestia for data availability and utilizing innovative fraud-proof mechanisms, Eclipse aims to streamline the interaction among different layers in its modular architecture. This setup facilitates better accessibility and user experience, encouraging developers from both Ethereum and Solana communities to integrate their applications into the Eclipse framework.
In this episode of Unchained, Keone Hon of Monad Labs, Jay Jog of Sei Labs, and Vijay Chetty of Eclipse Labs share insights on their distinct approaches to scalability and performance in high-throughput blockchains. They discuss the technical advantages of parallelized EVMs, the strategic decisions behind blockchain architecture, and the innovations driving the next generation of high-speed chains.
Show highlights:
00:00 Intro
02:02 How Monad got started and its mission from the very beginning
03:46 The features that enable Monad to be a high-throughput blockchain
07:32 Why Monad chose to make a new blockchain instead of an L2
08:36 Why Keone believes that Monad offers the best experience for developers and why he doesn’t like the ‘Ethereum killer’ description
15:48 Monad’s big venture capital raise and how they’ll use the money
17:30 Monad’s strong community
19:21 The next steps for Monad and whether we’ll see a token soon
20:02 What Sei is and the role of the GameStop saga in the creation of it
21:31 Why Jay believes the EVM developer ecosystem is so strong
25:45 Why Sei pivoted from Cosmos to the EVM that led to the launch of its v2
27:14 What allows Sei to be “the fastest chain, even faster than Solana”
33:03 How Sei DB works, and why Jay says that the monolithic approach has many advantages to the modular one
45:35 How Eclipse works by combining Ethereum, Solana, and Cosmos
53:22 How Eclipse deals with the complexities of its modular architecture
54:54 What ways there are to transact in SOL on Eclipse
55:44 Vijay’s reaction to how Eclipse Labs has responded to the allegations against its founder and former CEO Neel Somani
57:21 How Eclipse aims to attract developers
1:01:15 What areas within crypto Vijay expects will flourish on Eclipse
1:03:49 The next steps for Eclipse and when the mainnet could launch
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