MegaETH Unveils Public Test Network, Achieving 20,000 Transactions Per Second (TPS)
MegaETH, an Ethereum Layer 2 (L2) project, has announced the launch of its public testnet, showcasing a claimed throughput of 20,000 transactions per second (TPS). Expected block times are as short as 10ms, making it 25 times faster than Arbitrum's 250ms. The network currently hosts approximately 30 applications, including the trading platform GTE and the prediction market Guess.Best.
MegaETH's high-performance testnet positions it among the growing cohort of Ethereum-based L2 projects aiming for significant transaction rate improvements over Ethereum's Layer 1 (L1). Other prominent L2 projects, such as Base, Optimism, and ZKSync, also aim to enhance scalability and reduce costs compared to L1.
ZKSync targets a TPS of 10,000 by the end of the year, while MegaETH has not yet confirmed specific TPS figures beyond the claimed 20,000 TPS. In the future, MegaETH plans to implement a proprietary parallelization mechanism to reach the ambitious target of 100,000 TPS, a figure Vitalik Buterin set for Ethereum L1 in 2021.
Recent analysis by Santiment suggests a decline in optimism regarding Ethereum. This highlights the ongoing competition within the Ethereum ecosystem as projects strive to improve performance, scalability, and usability.
The actual throughput of MegaETH in a live network setting remains to be seen, but its high-performance testnet underscores the potential of Ethereum's L2 solutions in addressing the network's existing limitations.
The high-performance testnet of MegaETH, an Ethereum Layer 2 (L2) project, showcases its potential to enhance Ethereum technology, boasting a claimed throughput of 20,000 transactions per second (TPS). Other Ethereum-based L2 projects, including ZKSync, are also utilizing technology to improve scalability and reduce costs compared to Ethereum's Layer 1 (L1).
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