What is the Monad Project?

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2 Jan 2024
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Monad is a blockchain platform compatible with Ethereum. It has outstanding performance and incredible speed. It offers an efficient balance between decentralization and scalability.

Monad is an Ethereum-compatible L1 with outstanding performance and incredible speed. Monad significantly advances the efficient frontier in the trade-off between decentralization and scalability.
With the help of Monad, four key optimization areas were introduced, leading to a blockchain capable of processing 10,000 transactions per second (tps):
MonadBFT
Deferred Execution (significantly increasing execution budget by linking settlement and execution)
Parallel Execution
MonadDb (high performance state backend)
Enhancements to Monad alleviate existing bottlenecks while maintaining seamless interoperability for users and application developers. In this way, Monad can easily integrate with the comprehensive ecosystem of Ethereum tools and applied cryptography research and gain benefits in terms of increased efficiency and scale.
Apps (any dapp built for Ethereum)
Developer tools (e.g. Hardhat, Apeworx, Foundry)
Wallets (e.g. MetaMask)
Analytics/indexing (e.g. Etherscan, Dune)

Performance of the Monad
From a performance perspective, Monad offers 1-second block times and 1-second termination, while offering a throughput of 10,000 tps, or 1 billion transactions per day. This allows Monad to support many more users and much more interactive experiences than existing blockchains, while offering much cheaper costs per transaction.
Did you compare the monad to someone?
When it comes to user behavior, Monad and Ethereum are quite similar. You can use the same wallets (like MetaMask) or block explorers (like Etherscan) to sign or view transactions. Since applications developed for Ethereum can be ported to Monad without requiring changes to the code, you will be able to use many of your favorite Ethereum applications on Monad. Since Monad and Ethereum use the same address space, you can reuse your existing keys.
Monad has features like Ethereum with linear blocks and linear ordering of transactions within a block.
Monad, like Ethereum, is a proof-of-stake network operated by a decentralized group of validators. Anyone can run a node, and great care has been taken to minimize the amount of hardware needed with its technology to independently confirm the execution of the transaction.

What does the monad do differently?
Superscalar pipelining and parallel execution are two features that Monad has added to the Ethereum Virtual Machine to provide exceptional performance.
Parallel execution is the practice of using multiple cores and threads to strategically execute work in parallel while still processing results in the original order.
The Monad team has found a great way to explain Superscalar pipelining. The process of organizing tasks into phases and executing them simultaneously is known as superscalar pipelining. To put this graphically, when you're doing four baskets of laundry, it's a no-brainer to wash, dry, fold and store the first basket before starting the second basket. Once basket 1 goes into the dryer, basket 2 should start washing. This is sequential technique. By using multiple resources simultaneously, pipelining makes the job more productive.

How Do I Use Monad?
In the coming months, Monad's first public testnet will be launched.
Once this happens, you can use Monad like any other Ethereum compatible network by adding the required RPC url and ChainId to your Ethereum compatible wallet. Until then, keep your eyes peeled!
What is the Monad Community Like?
I'll be honest here, I've been on the monad discord for about a week now and I'm having a great time.

The Monad community is a very active community. Members' activities and contributions to the community are always evaluated by the team. These roles given by the team include roles such as Monvangelist, MonOG, Running Hot, Nads, Quant. These roles are all unique and depend on what you do for the community.
Other events, such as poker tournaments hosted on Discord, connect the community and also give away rewards. Monad has a very active community management and a talk room for almost every topic. The community is also very steeped in “meme” culture. Funny "memes" created by the community and shared on the relevant channel attract great attention.

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