{"id":18696,"date":"2024-11-18T18:25:43","date_gmt":"2024-11-18T16:25:43","guid":{"rendered":"https:\/\/forklog.com\/en\/monad-launches-testnet-for-evm-compatible-l1-blockchain\/"},"modified":"2024-11-18T18:25:43","modified_gmt":"2024-11-18T16:25:43","slug":"monad-launches-testnet-for-evm-compatible-l1-blockchain","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/monad-launches-testnet-for-evm-compatible-l1-blockchain\/","title":{"rendered":"Monad Launches Testnet for EVM-Compatible L1 Blockchain"},"content":{"rendered":"<p>The deployment of the test network for the EVM-compatible L1 platform Monad has commenced, according to <a href=\"https:\/\/www.theblock.co\/post\/327005\/monad-testnet\">The Block<\/a>, citing an unnamed source.<\/p>\n<p>Cryptotrader Jordan Fish, known by the pseudonym Cobie, <a href=\"https:\/\/x.com\/cobie\/status\/1858473889803690259\">reported<\/a> a successful &#8220;quick&#8221; transaction. During internal testing in March, the network <a href=\"https:\/\/x.com\/monad_xyz\/status\/1768291081303568879\">demonstrated<\/a> a throughput of 10,000 <span data-descr=\"transactions per second\" class=\"old_tooltip\">TPS<\/span>.<\/p>\n<p>The project achieves higher transaction processing speeds through its proprietary EVM with a high degree of parallel processing. Most other blockchains, including Ethereum and Avalanche, process transactions sequentially, whereas Monad does so simultaneously.<\/p>\n<p>Thanks to compatibility with EVM <span data-descr=\"low-level machine code for a virtual processor\" class=\"old_tooltip\">bytecode<\/span>, developers will find it easier to port their applications from Ethereum to Monad. On the other hand, parallel execution requires more powerful hardware, complicating node deployment.<\/p>\n<p>In technical documents published in September 2023, the project <a href=\"https:\/\/www.theblock.co\/post\/252757\/monad-token-name\">mentioned<\/a> a coin called mon, intended for fee payments, but developers later removed its name from the text for unspecified reasons.<\/p>\n<p>In February 2024, Monad Labs raised $19 million for blockchain development from Dragonfly Capital, Placeholder Capital, Lemniscap, Shima Capital, and several angel investors. In April, the project <a href=\"https:\/\/forklog.com\/en\/news\/monad-labs-secures-225-million-to-challenge-solana-and-ethereum\">closed<\/a> a $225 million funding round with participation from Paradigm, Electric Capital, and Greenoaks.<\/p>\n<p>According to previously announced plans, the team intends to launch the Monad mainnet by the end of the year.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Monad: EVM competitor to Solana with 10,000 TPS\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/-NlMVLlzu9w?start=80&#038;feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<p>Earlier, developers of the L2 network TAC announced EVM-compatible solutions for the TON ecosystem.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deployment of the test network for the EVM-compatible L1 platform Monad has commenced, according to The Block, citing an unnamed source. Cryptotrader Jordan Fish, known by the pseudonym Cobie, reported a successful &#8220;quick&#8221; transaction. During internal testing in March, the network demonstrated a throughput of 10,000 TPS. The project achieves higher transaction processing speeds [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[25,433,1712],"class_list":["post-18696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain","tag-evm","tag-monad"],"aioseo_notices":[],"amp_enabled":true,"views":"76","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18696"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18695"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}