Vitalik Buterin Endorses MegaETH Project with Million Dollar Investment

Vitalik Buterin, the platform’s co-founder, is now an angel investor in MegaETH, a promising blockchain project that promises compatibility with Ethereum. MegaETH has just announced that it has raised an impressive $20 million in a seed funding round, with participation from several influential figures in the crypto industry, including Buterin himself.

Developed on the idea of ​​a Layer 2 solution for Ethereum, MegaETH offers robust performance, standing out for its ability to process up to 100,000 transactions per second, with a latency of just milliseconds. The efficiency presented promises to revolutionize processing on the Ethereum network, bringing greater speed and reducing operational bottlenecks.

Da Bing, the visionary behind MegaETH, shared the news about the funding via his Twitter profile, highlighting the trust and support of renowned institutional investors such as Dragonfly Capital, Figment Capital and Robot Ventures, among others, as well as individual investors who have been affectionately nicknamed “Mega Angels”.

More importantly, we are so lucky to have amazing Mega Angels.

Deep gratitude goes to @VitalikButerin @ethereumJoseph @sreeramkannan @cobie @santiagoroel @TheRealKartik @hasufl @0xMert_

& so many more who believe that @megaeth_labs is going to Make Ethereum Great Again

— brother bing / mega-bing / 饼兄 (@hotpot_dao) June 27, 2024

In addition to the technical advancements, MegaETH currently has an operational devnet and is in an intense development phase. Technologies employed by the project include in-memory computing and a new state test design, aiming to optimize performance and state synchronization.

Among the technical innovations, the use of Rust Ethereum and Alloy Merkle Patricia Trie (MPT) stand out, both fundamental to improving both the performance and memory efficiency of the network.

Disclaimer:

The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.