Vitalik Buterin, co-founder of Ethereum, has thrown his support behind MegaETH, a new blockchain technology developed by MegaLabs. MegaETH has successfully raised $20 million in seed funding, propelling it towards its goal of achieving 100,000 transactions per second (TPS). This ambitious target far surpasses the capabilities of most Ethereum virtual machine (EVM)-compatible blockchains, which typically max out at 3-digit TPS.

MegaLabs, founded in early 2023 by Shuyao Kong and Yilong Li, is dedicated to pushing the boundaries of blockchain technology. Kong, a former global head of business development at Consensys, and Li, a Ph.D. holder in computer science from Stanford University, have brought their expertise together to create MegaETH. This innovative blockchain aims to achieve real-time performance by utilizing Ethereum security, Optimism's fault-proof system, and its own optimized sequencer.

MegaETH's unique approach to blockchain technology has garnered significant attention, with notable investors like Vitalik Buterin, Joseph Lubin, Sreeram Kannan, and others contributing to its seed funding round. The funding round, led by Dragonfly and supported by Figment Capital, Robot Ventures, Big Brain Holdings, and others, has brought MegaETH's fully diluted token valuation to a remarkable "9-figure" amount.

MegaETH's innovative architecture and execution environment set it apart from other blockchain technologies. Its heterogeneous blockchain architecture allows network nodes with diverse hardware configurations to specialize in specific tasks, boosting performance. Additionally, its hyper-optimized EVM execution environment pushes throughput, latency, and resource efficiency to hardware limits, enabling the blockchain to achieve 100,000 TPS in real-time.

Buterin's support for MegaETH stems from his belief in the importance of creating hyper-scalable EVM implementations for truly scaling Ethereum. He expressed his excitement about seeing talented developers tackle this challenge, underscoring the significance of MegaETH's innovative approach to blockchain technology.

MegaETH's public testnet is scheduled to go live in early fall, with the mainnet expected near the end of the year. As MegaLabs continues to build its blockchain, onboard developers, and grow its community, the future of MegaETH looks promising. The launch of MegaETH's native token is yet to be decided, but with fresh funding in place, the possibilities for this innovative blockchain technology are vast.

In addition to its cutting-edge technology, MegaLabs has recently launched a builder program called MegaMafia. This initiative aims to co-build with developers worldwide, fostering a collaborative environment and encouraging innovation within the MegaETH ecosystem. With fewer than 20 people currently working on MegaETH, Kong has no plans to expand the team, emphasizing the importance of quality over quantity in driving the project's success.

As MegaETH continues to make strides in the blockchain landscape, its focus on real-time performance, security, and scalability sets it apart from other blockchain technologies. With the support of influential figures like Vitalik Buterin and a strong funding round, MegaETH is poised to make a significant impact in the world of blockchain and beyond.