Monad, spearheaded by Keone Hon, aims to revolutionize Ethereum scalability with its advanced layer-1 chain, offering 10,000 TPS and rapid block finality. Drawing on Hon’s extensive HFT experience, Monad focuses on solving Ethereum’s transactional limitations and enhancing blockchain efficiency. Upcoming in 2025, it aims to shift the scalability narrative within the crypto space while fostering a robust global community.
Monad, led by Keone Hon, is creating buzz as a revolutionary layer-1 chain poised to transform Ethereum’s scalability. With a remarkable capability to process 10,000 transactions per second and achieve lightning-fast block finality, Monad represents a significant advancement for blockchain technology, set to debut in 2025.
Keone Hon, with 12 years of experience in the financial sector as a quantitative analyst in high-frequency trading (HFT), thrives in fast-paced environments. His early career involved a small, dynamic team focused on building optimized trading systems, where he quickly learned the necessity of speed—making decisions in mere microseconds after data arrival.
Transitioning from HFT to blockchain, Keone was motivated by his time at Jump Crypto, where he recognized the inefficiencies of the Ethereum Virtual Machine (EVM). He and his co-founders launched Monad in early 2022, aiming to enhance architectural performance, incorporate parallel execution, and develop a highly efficient consensus mechanism.
Monad’s primary goal is to tackle Ethereum’s scalability limitations, currently capable of processing only about a million transactions daily. According to Keone, this figure is inadequate for the network’s goal of becoming a decentralized computer for the world, especially with apps that could attract millions of daily active users.
To remedy scalability issues, Monad employs innovative architectural strategies: 1) Parallel Execution enhances throughput by allowing simultaneous transaction processing. 2) A High-Performance Database addresses critical bottlenecks in state access. 3) Asynchronous Execution separates execution from consensus to maximize efficiency. 4) The Monad BFT consensus mechanism utilizes linear communication for scalable, efficient performance.
The emergence of parallel chain technology has gained traction recently, especially as Monad was raising funds. Keone believes this growth catalyzes a renewed interest in performance advancements as Monad’s mainnet launch approaches, which aims to redefine scalability beyond mere hype.
Describing asynchronous execution with a vivid analogy, Keone likens it to the movie “Limitless,” where harnessing full cognitive potential allows for streamlined, efficient processing of transactions. By separating execution from consensus in current architectures, Monad unlocks more time for transactional operations—much like utilizing the entire potential of the brain.
Monad’s consensus mechanism differs from traditional systems by implementing linear communication, allowing for efficient scalability as the network grows. In contrast, quadratic communication relies on every node communicating with each other, rapidly escalating communication overhead as the network expands.
Challenges during Monad’s build included fostering team efficiency, clear communication, and swift course corrections. Keone highlights the strong support from their community, which has been instrumental in powering individual projects within the Monad ecosystem.
Building a solid community centered around quality engagement rather than shortcuts has been critical for Monad. Keone emphasizes the value of genuine contributions, avoiding superficial incentives that dilute community efforts. Strong global connections, like those with communities in Indonesia and Turkey, were cultivated through in-person meetups, enhancing community bonds.
Looking ahead, Monad aims to contribute significantly to Ethereum scaling research, engaging actively in Ethereum Improvement Proposals (EIPs). The vision extends beyond merely developing a faster blockchain; it focuses on advancing the entire ecosystem.
Keone predicts a continued desire for innovative crypto applications, as teams prioritize user experiences and acquisition strategies. He expresses optimism for the future, believing that by addressing scalability issues, they can pave the way for mass blockchain adoption and innovation.
Monad is on the cusp of a technological revolution in scalability for Ethereum, driven by Keone Hon’s expertise and innovative strategies. With its upcoming launch in 2025, Monad aims not just to enhance performance but to contribute meaningfully to the wider blockchain ecosystem. Its focus on addressing scalability issues and building a passionate community positions it as a significant player in the cryptocurrency landscape.
Original Source: coinmarketcap.com
