Author: Evie | JE Labs
In a recent interview with Evie, the founder of JE Labs, Keone Hon, the co-founder of Monad, shared the vision, technology, and future plans of this groundbreaking Layer 1 blockchain. Monad is focused on unparalleled performance and seamless compatibility, shaping the next stage of blockchain innovation.
Keone Hon: From Quantitative Trader to Blockchain Innovator
Keone's career began in high-frequency trading, where he worked for eight years at Jump Trading, developing trading systems capable of making decisions in microseconds. During this time, he accumulated expertise in building high-performance systems, later joining Jump's crypto team, focusing on the DeFi ecosystem of Solana.
His experience with Solana revealed two key opportunities: the demand for high-performance blockchain infrastructure and the importance of EVM compatibility. "The market needs a system that has Solana's speed but also the Ethereum developer-friendly environment," Keone explained. This vision led to the founding of Monad in early 2022, with co-founders James Hunsaker and Eunice Giarta.
Monad's Technology: Addressing Layer 1 Scalability Challenges
Monad solves the blockchain scalability trilemma by simultaneously achieving high throughput, decentralization, and security. Keone highlighted four key innovations in Monad:
MonadDB: A custom database optimized for efficient storage of Ethereum Merkle tree data.
Optimistic Parallel Execution: Supports parallel transaction processing while maintaining transaction order integrity.
Asynchronous Execution: Separates the consensus and execution processes to maximize block time utilization.
Monad BFT: A robust consensus mechanism that supports a decentralized validation set of hundreds of nodes.
These innovations enable Monad to provide over 10,000 transactions per second (TPS) while being fully EVM bytecode compatible, ensuring developers can migrate their applications without modification.
Ecosystem Development: Developers and Community at the Core
Monad has attracted a vibrant developer ecosystem, leveraging its high-performance infrastructure to build innovative projects. Examples include:
FortyTwo: A decentralized AI protocol focused on collective reasoning capabilities.
Kuru: A fully on-chain order book that can be composable with DeFi applications.
Kizzy: A social media gaming platform that combines prediction markets and user engagement.
Keone emphasized the importance of Monad's community-driven culture, which fosters collaboration and creativity. Subcommunitie s like the Monad Run Club and Monlingo showcase how the Monad ecosystem goes beyond just the technology, building human connections.
Image: Community-created overview of the Monad ecosystem
Empowering Developers: Monad Madness
Monad supports early-stage developers through global creative competitions like Monad Madness. Monad Madness has hosted events in New York and Bangkok, awarding over $1 million in prizes and providing participants with opportunities to connect with top investors, including Paradigm, Pantera, and Electric Capital.
"Our goal is not just to provide funding, but to catalyze innovation," Keone stated. Winning projects like EarnOS and Rarebet Sports showcase Monad's potential to empower transformative applications.
Looking Ahead: Monad's Vision
As Monad approaches the launch of its public testnet, Keone envisions Monad becoming a significant contributor to Ethereum scaling research. Within the next three years, Monad aims to support killer applications in areas like decentralized identity, payments, and data storage, scaling to support hundreds of millions of users.
"Monad is not just a blockchain; it is a movement to push the boundaries of Web3 performance and usability," Keone concluded.
Join Monad's Journey
To stay up-to-date on Monad's testnet and ecosystem developments, follow Monad's official Twitter (@monad_xyz) or join their Discord community. As Monad sets new standards for Layer 1 blockchains, the project invites developers, enthusiasts, and innovators to be a part of its journey.
Monad's focus on performance, compatibility, and community sets it apart in the competitive Layer 1 landscape, offering a new perspective on the future of blockchain technology.
About Monad
Monad Official Twitter: https://x.com/monad_xyz
Monad Chinese Twitter: https://x.com/monad_zw
Website: https://www.monad.xyz/
Discord: https://tr.ee/rF_35N5aOW
Community Telegram: https://t.me/monad_xyz
WeChat Official Account: Monad Chinese
