TechFlow news, November 18 — According to The Block, Monad, an Ethereum-compatible Layer 1 blockchain, has begun rolling out its testnet in phases. Crypto trader Jordan Fish (aka Cobie) confirmed on social media that he completed a transaction on the Monad testnet, noting that the transaction speed was very fast.
Previously, in March, Monad Labs launched a developer network where internal testing achieved 10,000 transactions per second (TPS). The project rebuilds the EVM using a pipelined architecture, claiming to enable one-second block times and instant block finality, though node hardware requirements are approximately twice those of the Ethereum mainnet.
Earlier report, Monad Labs raised $225 million in a funding round led by Paradigm in April this year, with participation from Coinbase Ventures, Electric Capital, and other firms.
