Introduction: Can Monad change the game?
In 2023, Solana witnessed a strong resurgence with a series of innovations in the fields of AI, SocialFi, Meme coin, and DeFi. The explosion of this ecosystem has drawn the attention of the entire market. Meanwhile, Ethereum and the EVM ecosystem are facing major challenges in terms of performance, high transaction costs, and scalability.
Monad - a high-performance EVM blockchain - is aiming to change the game. Built by former members of Jump Trading and attracting the attention of major funds like Paradigm and Dragonfly, Monad is not only EVM-compatible but also boasts superior speed and performance like Solana.
So, is Monad truly a breakthrough solution or just a new FOMO story?
The formula for a successful blockchain: Technology + Ecosystem + Financial Incentives
Successful blockchains are built on three core elements:
✅ Powerful technology that solves real-world problems.
✅ A robust ecosystem that supports builders' development.
✅ Creating financial incentives (Wealth Effect) to attract capital.
Monad is striving to address all three of these factors.
1. Breakthrough Technology: How does Monad improve EVM performance?
Monad is not just a regular EVM blockchain, but it brings four major innovations to optimize performance:
- MonadDB: An optimized database for EVM, reducing storage costs and increasing state processing speed.
- Parallel Execution: Monad can execute multiple transactions simultaneously without waiting, increasing transaction throughput.
- Asynchronous Execution: Separating transaction processing and consensus, optimizing speed.
- MonadBFT: An improved consensus mechanism, enabling faster and more stable transactions.
As a result, Monad claims it can achieve 10,000 TPS with sub-second processing time - a significant improvement over Ethereum.
2. Builder-first Ecosystem: What does Monad offer to attract developers?
A strong blockchain requires not only good technology but also a thriving ecosystem. Monad is implementing a range of programs to attract developers:
- Mach Accelerator: Supporting Web3 startups with mentorship and investment.
- Foundry: A shared workspace for blockchain projects.
- Monad Madness: A series of fundraising events in major cities.
- Jumpstart: A network of top Web3 builders as advisors.
- evm/accathon: Hackathons with support from Monad and partners.
With this strategy, Monad is creating an ideal development environment for Web3 projects, similar to how Solana has done in the past.
3. Wealth Effect: Can Monad activate the flow of capital?
Any ecosystem needs a "profit story" to attract capital. Looking at recent successful blockchains:
- Solana Meme Season: The explosion of BOME and WIF created millions in liquidity.
- Base & $DEGEN: Generating strong incentives from the community.
- BNB Chain: The game and launchpad ecosystem maintains continuous liquidity.
Monad is collaborating with Phantom, Backpack, Pyth - major projects from the Solana ecosystem, while also attracting builders in DeFi, NFT, and Gaming to build a truly capital-rich ecosystem.
If successful, Monad could become the "Solana of the EVM world", attracting capital from both ecosystems.
Risks and Challenges: Is Monad truly sustainable?
🔹 Does high speed come at the cost of decentralization? Monad must balance performance and decentralization to maintain community trust.
🔹 Fierce competition: Ethereum is rapidly developing powerful L2s (Arbitrum, Optimism, Starknet), while Solana is also continuously improving. Monad needs a clear differentiation.
🔹 Is Monad a "game changer" or just a capitalization cycle? With $2.25 billion from major funds, Monad could explode, but it could also be just a financial cycle if it fails to create real value.
Conclusion: Is Monad an opportunity or just FOMO?
🔥 With strong technology, backing from major funds, and a focus on developers, Monad has the potential to become the "Solana of the EVM".
However, the key questions are:
👉 Can Monad truly attract developers and build a sustainable ecosystem?
👉 Or is it just a heavily funded story without the necessary elements to last in the long run?
Will the spring of EVM truly arrive with Monad? The answers will be clearer as its testnet and ecosystem officially go live. 🚀
