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Monad: The EVM-Compatible 10,000 TPS L1 Blockchain - Keone Hon

Episode Summary

We were joined by Keone Hon, cofounder & CEO of Monad, to discuss blockchain scalability and how Monad can achieve 10,000 TPS through asynchronous optimistic parallel execution & a new consensus model

Episode Notes

The status quo for developers choosing an ecosystem for their blockchain usually revolves around trade-offs: do they go for Ethereum’s network effect, liquidity and decentralisation, or sacrifice some features in favour of a higher throughput. Monad aims to combine the best of both worlds, while not being limited by excessive hardware requirements. Monad built an EVM-compatible L1 from the ground up, completely rethinking execution and consensus, in order to achieve the infamous 10,000 TPS. This extreme scalability is made possible through Monad’s optimistic parallel execution which is asynchronous from consensus. The latter has also been optimized in order to achieve single-slot finality. Monad’s proprietary database architecture allows for states to be stored on SSDs instead of RAM, which ensures that consumer-grade hardware can run a Monad node, further increasing decentralisation.

Topics covered in this episode:

• Keone’s background
• TradFi vs. DeFi and how Monad was founded
• EVM’s network effect vs. other VMs
• How Monad aims to improve EVM’s performance
• MonadDB
• MonadBFT - New consensus mechanism
• Asynchronous execution
• MEV and proposer-builder separation (PBS)
• Monad’s throughput
• Further scaling and limitations
• Alternatives & trade-offs
• DevEx
• Community & ecosystem development

Episode links:

• Keone Hon on X
• Monad on X

Sponsors:

• Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io
• Chorus1: Chorus1 is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one

This episode is hosted by Brian Fabian Crain.