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Monad Launches Testnet as the Next-Gen L1 Race Heats Up

Monad, one of the most anticipated upcoming L1s, just unveiled its first testnet.
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Nov 18, 20241 min read

Monad, an Ethereum-compatible Layer 1, has officially launched its testnet following the network's devnet release in March.

What’s the Scoop?

  • High Performance: Monad boasts up to 10,000 TPS with 1-second block times, aiming to set new standards for speed and efficiency in the cryptoeconomy.
  • Massive Funding: Back in April, Paradigm led a $225M funding round to support Monad’s development. Now, the chain is revving up for primetime.

Bankless Take

The L1 arena continues to heat up, with Monad entering the fray at a time of growing competition. Projects like Sui Network have recently gained traction, and upcoming networks like Berachain and MegaETH have big potential, setting the stage for more jockeying here. Monad’s pitch, high TPS, low fees, and significant VC backing positions it as a strong contender, but execution will be key. As the next bull market approaches, all eyes will be on Monad to see if it can deliver on its promises and carve out its share of the L1 market.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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