Monad Testnet Scheduled for Q4 2024
Ethereum-compatible Layer 1 blockchain Monad is reportedly beginning its testnet rollout, following the recent launch of its devnet—a developer testing phase.
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Ethereum-compatible Layer 1 blockchain Monad is reportedly beginning its testnet rollout, following the recent launch of its devnet—a developer testing phase.
The news was shared by well-known crypto trader Jordan Fish, also known as Cobie.
Cobie’s post confirming Monad testnet progress. Source: x.com
Monad stands out as one of the most eagerly awaited Layer 1 blockchains. According to its developers, the network promises a transaction speed of 10,000 TPS (transactions per second) and a one-second block time.
Unlike standalone networks such as Sui or Sei, Monad enhances Ethereum by integrating parallel execution directly into the Ethereum Virtual Machine (EVM). This unique approach allows Ethereum dApp developers to migrate their projects to Monad with ease, while boosting transactional efficiency.
Related: Monad: Exploring the Ecosystem of the Most Anticipated L1
Cobie’s announcement has sparked excitement in the Monad community. The project’s official Discord channel has been buzzing with activity, with numerous messages referencing the testnet rollout.A message from the community’s “mo bot” indicates that the testnet is scheduled for Q3 2024, with the mainnet launch planned for Q1 2025.
Mo bot’s announcement about Monad’s testnet and mainnet timelines. Source: discord.com
According to Monad’s technical papers, published in September 2023, the network’s native token will facilitate transaction payments. Initially referred to as MOD, the token’s name was later omitted from project documents.
Monad secured $225 million in a funding round led by Paradigm, bringing its total raised capital to $244 million.
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