Thread by @0xmeatzy

Bull markets are fun, but innovation is born from the belly of the bear.

Relatively new entrants like $ARB and $OP have been popping off, and there are tons of innovative new projects on the horizon.

Let's discuss the up-and-comer I'm most excited for: @monad_xyz 🧵 (1/18)

This thread covers:

1) A brief look at the state of composability and transaction throughput

2) Monad's core innovations and competitive advantages

3) What to look out for 👀

2/18

Monad's tech features fundamental optimizations to consensus and execution that allow it to scale more efficiently than other blockchains while remaining EVM compatible.

This will give it an advantage in one of the most important aspects of web3: composability.

3/18

In a nutshell, #composability refers to the capacity of dApps to incorporate the functions of other dApps in their own operations.

It’s also what makes dApps similar to “money legos” – dApps on the same chain can be used as blocks to build more complex applications.

4/18

Composability is crucial to unlocking the potential of decentralized computation, but challenging to achieve at scale due to the increasing demand for transactions it creates.

High transaction throughput is essential.

5/18

Optimistic rollups and other scaling solutions have come a long way from $ETH's ~10-15 transactions per second, but we're still a long way from the TPS needed for complex, widely used applications.

6/18

Enter @keoneHD, a former HFT quant @jumptrading and MIT gigabrain with Monad.

Monad is an EVM-compatible L1 with an MVP that can process 10K TPS. It does this in part by enabling asynchronous, parallel execution for EVM transactions.

7/18

10K TPS equates to roughly 1 billion transactions/day. In comparison, Ethereum can process around 1M transactions/day, Polygon around 20M transactions/day, Solana around 100M/day.

8/18

Most EVM chains execute transactions one at a time – this is inefficient and creates bottlenecks.

@solana architected one of the first systems for parallel execution in Sealevel, which increased $SOL non-voting TPS to 500-1000 – however, Solana lacks EVM compatibility.

9/18

EVM code accounts for ~98% of TVL in crypto according to @DefiLlama. Solidity and Vyper are high-level programming languages that generate EVM bytecode – the fundamental format in which EVM dApps are expressed.

Being siloed from this is a significant disadvantage.

10/18

Monad, on the other hand, is fully EVM compatible and has markedly higher transaction throughput in its MVP.

Monad's design allows for the parallel execution of EVM transactions that don't have common dependencies.

11/18

Monad still orders transactions linearly, but it identifies transactions in the sequence that can be executed in parallel without disrupting their outcome.

This is, in large part, what allows it to process 10K TPS with instant finality and 1-second block times.

12/18

Monad redesigned Ethereum consensus and execution for their chain. Unlike Ethereum and many other monolithic blockchains, Monad decouples consensus and execution.

This allows consensus and execution to run in parallel – another significant advantage in scaling.

13/18

Monad raised a $19M seed round led by @dragonfly_xyz in February. The round included many notable participants, including @Lemniscap, @hasufl, @cobie, and @0xMaki.

Unsurprising, considering the potential of what could be the most performant EVM-compatible L1 to date.

14/18

Monad has stated plans to launch mainnet later this year, and testnet is likely to go live in the coming months. Seems like it'll be worth staying ahead of the curve on this one.

You can stay current with Monad by checking out their discord (discord.com/invite/monad)

15/18

It's also worth checking out project building on monad, such as @MonadNomadsNFT

16/18

In summary, Monad has invented novel solutions to the biggest obstacles facing decentralized computation at scale.

It will be very interesting to watch it grow, and I'll be keeping any eye on it. Hope you enjoyed reading 🤝

17/18

Tagging some real ones who may appreciate:

@keoneHD
@0xsmac
@LibraryOnchain
@blocmatesdotcom
@ZoomerOracle
@Ace_da_Book
@rektdiomedes
@safuXBT
@dogoshii
@0xGrayMatter

18/18