MegaETH has launched its public mainnet, entering an Ethereum ecosystem deeply divided over how best to scale. The project aims to deliver near-instant blockchain interactions, targeting over 100,000 transactions per second, far above Ethereum’s current capacity.
Built by MegaLabs, the network promotes itself as a real-time blockchain and counts closer to traditional web applications. The group raised $20 million in seed money under Dragonfly’s leadership in 2024. Later, with the support of prominent cryptocurrency influencers, they sold tokens valued at $450 million.
At launch, the MEGA token won’t be completely unlocked; instead, its distribution will be dependent on network usage benchmarks. By launching MegaETH, Vitalik Buterin is raising concerns about whether Ethereum should put more money into expanding the base layer or rely so heavily on layer-2 rollups.
Rollup supporters insist that they already provide good performance, while critics claim that they split liquidity and users. MegaETH positions itself in the middle, assuming that there is a significant market for extremely quick chains.
The launch gives the existing discussion about Ethereum’s long-term scaling plan new life.
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