Original - Odaily
Author - Azuma
On the evening of April 9th, Beijing time, Monad Labs announced the completion of US$225 million in financing, led by Paradigm, with participation from Electric Capital and Greenoaks.
As the most high-profile project in the Layer 1 track, Monad, which focuses on the concept of Parallel EVM, hopes to introduce a parallel processing execution layer expansion solution, which will significantly increase the capacity on the premise of being 100% compatible with all byte characters of EVM. Network execution efficiency.
Jump’s predecessor’s “brain” expansion ideals
In April 2022, Keone Hon, head of research at market-making giant Jump Trading, announced his resignation and founded Monad.
As mentioned above, it is different from the mainstream Layer 2 expansion strategy on the market.Monads vision is to massively improve the execution efficiency of EVM at a single layer of Layer 1 through parallel processing, thereby unleashing the potential of the EVM ecosystem.
In Keones view, thanks to Ethereums sufficient user education, EVM has almost become a standard choice like Javascript in the web2 world.However, there are certain problems with the current expansion path of Ethereum. The layering strategy of Layer 1 + Layer 2 will cause the blockchain to be divided into independent execution environments, thus destroying the composability of the chain. Therefore, it is necessary to build a Higher performance underlying network.
Keones estimate at the time was that Monads performance could reach more than 1,000 times that of Ethereum and could host more complex application types, thereby achieving wider adoption.
In February 2023, Monad announced its first round of financing of US$19 million, which was led by Dragonfly Capital, with participation from Placeholder Capital, Lemniscap, Shima Capital, Finality Capital, Naval Ravikant, Cobie, Hasu, etc.
In December 2023, Georgios Konstantopoulos, chief technology officer of leading VC Paradigm, spoke highly of the prospects of parallel EVM. Georgios believed that 2024 would be the year of the parallel EVM concept, and listed The representative project was the first to mention Monad, which has been working on this concept for the longest time.
How to understand parallel EVM?
Parallel EVM is essentially a reform of the transaction execution sequence in the EVM environment.
In a classic EVM environment, each transaction is executed in sequence (the most intuitive example: when a user submits multiple transactions, the later-submitted transactions will only start to be processed after the first-submitted transaction is confirmed). We can tentatively call this execution mechanism single-row EVM.
The design of single-row EVM ensures that transactions and smart contracts can be executed in a deterministic order, making it easier to manage and predict the status of the blockchain. This helps ensure the security of the network, but it also limits the transaction execution of the network. Efficiency limits the operational space for capacity expansion on a single layer of Layer 1.
The parallel EVM proposed by Monad hopes to break this shackles.This mechanism will partition or group all the transactions to be executed, and then rely on the scheduling algorithm to effectively manage the synchronization of each zone or group of transactions. Its ultimate goal is to allow multiple independent transactions to be executed in parallel, so that in a single layer of Layer 1 Greatly improve transaction execution efficiency.
Monad officials have given many vivid examples of the difference between parallel EVM and single-line EVM, such as the laundry case in the picture below.
Suppose someone has four piles of clothes to wash. Each pile of laundry needs to go through four steps from being thrown into the washing machine to being put into the closet: washing clothes, drying, folding, and storing.
Under the single row EVM mechanism, since each operation (corresponding to each transaction) needs to be executed in sequence, four piles of clothes must go through four steps in sequence, requiring a total of 16 time units.
Under the parallel EVM mechanism, since each independent operation (corresponding to each independent transaction) can be executed simultaneously, when a certain pile of clothes enters the next operation, the next pile of clothes can immediately enter the previous operation, and the total only needs 7 time units, the performance is more than doubled.
Another marketing genius?
Different from some teams with relatively rigorous styles,The Monad team has always been very down-to-earth or magic in its marketing strategies.
Every morning, the Monad team will publish gmonad (Monad community exclusive gm) on the X platform in different ways.
The team also held a meme contest on X to collect various magical emoticons about Monad from the community. This contest is currently in its 27th week. If you encounter some weird purple animals on X, then there is a high probability that the Monad community is conducting spiritual transmission.
This marketing style is hard not to think of Solana, who is also proficient in meme communication strategies and has attracted a large number of highly loyal community users.
Considering that Monad, like Solana, is a believer in Layer 1 single-layer expansion, whether it can replicate the legendary development path of its predecessors is also a unique expectation of the Monad community.
Token information interaction strategy
Regarding Monad’s future tokens, officials have not disclosed much yet.
In September 2023, Monad briefly released the technical documentation of its upcoming PoS chain, which also mentioned that its native token will be named MON and can be used to pay gas fees on the Monad chain, but this part of the information was not released soon. and was removed from the document.
Since Monad currently only has the devnet online which is not open to the public, neither the mainnet nor the testnet are online., ordinary users do not have much substantive interactive content at the moment. It is recommended that users who intend to ambush join the official Discord channel as soon as possible and wait for relevant developments on the test network. It is worth mentioning that at the end of last year, Keone stated on the X platform that nearly 60 projects have been confirmed to be built based on Monad. It is expected that when the testnet is launched, a batch of projects will be logged in simultaneously for user interaction.
For users who intend to ambush the Monad airdrop as early as possible, there are currently two feasible strategies.
The first strategy is more explicit—Stay active in Discord and actively help others to strive for the role of representative contributors such as nads and localnoads.. However, there is no clear mechanism for obtaining these roles, so users can only increase their presence by being as active as possible.
The second strategy is really just a guess;Since Wormhole, another major project directly related to Jump, has previously airdropped W to Monad’s nads identity holders (think that Monad does not even have a test network for the time being, and the two projects have no substantial integration for the time being...), so there is no Excluding Monad will reciprocate in potential future airdrops, after the staking function of W is opened, you may be able to look forward to the airdrop of Monad by staking W.
