Monad (N/A)

What is the Monad crypto project?

Monad is an EVM-compatible L1 blockchain that offers users and developers new horizons of possibilities with its high-performance transaction processing.

According to its docs, it is able to reach a throughput of over 10,000 TPS (transactions per second) by implementing four main improvements that couldn't be implemented on Ethereum:

• Monad database: The platform implements a Patricia Trie data structure, both on-disk and in-memory, that allows the protocol to avoid embedding data structures within one another and execute transactions in parallel.
• Monad BFT: The protocol's consensus mechanism that is able to function as desired and correctly reach consensus despite a minority of the system nodes failing.
• Deferred execution: Monad L1's unique infrastructure enables it to execute transactions decoupled from the consensus mechanism. This significantly saves time and increases the throughput capacity of the network.
• Parallel optimistic execution: The Monad blockchain starts executing transactions before earlier transactions in the block have completed, while still utilizing Ethereum's approach to creating blocks - a linearly ordered set of transactions.

At the same time, the Monad chain network remains completely EVM and Ethereum RPC compatible. This means that Ethereum developers are able to integrate Monad network without any major changes to their code, while EVM-network users can trade on the chain using any EVM-compatible wallets like MetaMask or Trust Wallet with the same wallet address.

🪙 Monad token: As July 30th, 2024, the documentation doesn't cover Monad coin economy and utility. However, it is most likely that such a Layer 1 blockchain will have its own token, which will play a major role in paying fees, powering the consensus mechanism, and participating in governance processes of the platform.

Currently, the network doesn't offer any activity on its platform, as it is in the devnet phase, but in the upcoming months, it plans to launch the first phase of its public testnet. We assume that the most active members of the testnet will be able to qualify for a Monad airdrop once the token release is announced.

Considering the growing interest in the Monad network among the crypto community, the CoinLaunch team has decided to conduct comprehensive research on the Monad crypto project. Here are the major pros and cons we have managed to find:

✅ Monad pros:

• Great concept and design of the fundamental technology with potential to become a leader among L1 blockchain networks;
• High PR and Marketing Infrastructure scores;
• Above-average SMM and Influencer marketing score;
• The Monad Labs, despite the protocol not having launched yet, has already managed to raise over $244M from Paradigm, Dragonfly, and others
• Strong network of partners ready to support the project from the very start of launch;
• Experienced core team, with some members having worked at Jump Crypto fund, J.P. Morgan, Goldman Sachs, and Bank of America.

❌ Monad cons:

• No tokenomics;
• No roadmap;
• No publicly available product to rate its quality, since Monad only recently appeared on the radar;
• No security audits of the platform as there is no product to audit currently;
• Below-average SEO performance;
• Very low Growth marketing score, as there are no products whatsoever to create contest events with.