Monad Blockchain, powered by Monad Labs, is one of the most anticipated Layer 1 Web3 solutions this year. The users expect the platform to launch the mainnet soon, and the probability of a potential airdrop is all over the community conversations.
An intern of Cointelegraph recently leaked the update regarding the alpha phase of Monad on X (previously Twitter). “$1,000,000 in prizes? 60+ venture firms watching? i should leak this”, these were the words of the intern.
This leak appears to be a sign of the arrival of Monad testnet and an airdrop with a massive reward pool. Monad has raised around 225 million dollars from prominent venture capitalists. The airdrop campaign with a 1 million reward pool looks reasonable.
What is Monad?
Monad is a Layer 1 blockchain with hyper scalability and lightning speed. The EVM-compatible protocol can do 10,000 transactions per second. The devnet went live in March 2024, and successfully deployed 10,000 transactions per second (TPS).
Users expect a public testnet to be released soon, and the mainnet may arrive in the last quarter of 2024 or at the beginning of 2025. There are no official confirmations about the key dates.
The Importance of Monad Chain
The current Solana-based solutions are excellent in scalability but lack EVM compatibility. Monad bridges this gap and provides a seamless user experience. Here are the core elements that help Monad to achieve this:
- MonadBFT: The MonadBFT is a custom-built Byzantine Fault Tolerance (BFT) consensus that verifies the transactions within microseconds. It is a derivative of HotStuff, which achieves both linear communication and optimistic responses.
- Deferred Execution: The execution of transactions is deferred from the consensus. In consensus, the nodes agree, and in the execution phase, it is updated by executing these agreements as transactions. This mechanism of parallelized processes is the foundational aspect of Monad.
- Parallel Execution: The executions of transactions are done parallelly. The new executions will begin before completing the previous execution. The system tracks the inputs to solve the doubling issue. 10,000 parallel transactions happen in one second.
- MonadDb: All the traditional blockchains keep the entire transaction history and go through it to create a new block. MonadDb, the Monad’s database, focuses on present transactions instead of going through all the previous data. It creates a temporary storage phase, like RAM, to execute the transactions. The wallets, balances, contract codes, and other details of the ongoing transactions are stored in temporary storage.
Monad’s Upcoming Airdrop Details
The leak regarding a potential airdrop with a $1,000,000 reward pool and sponsorship of 60 ventures, was shared to the official X (previously Twitter) handle of Monad. This increases the genuineness of the leak.
We can expect an airdrop from Monad around this week or next week. The airdrop might be a part of the testnet process. However, the official announcement has not yet arrived.
The Monad Testnet Date and Mainnet Launch
As we said, the Testnet and the airdrop campaign will be launched together. Users who engage with the network in the testnet phase will be rewarded with the airdrop allocation of 1 million dollars.
The insider information and unofficial sources confirm that the Monad will launch its mainnet in the last quarter of 2024 or the beginning of 2025. Upon the mainnet launch, there is a strong chance that institutional investors will turn to Monad.
Final Thoughts
Sources say that Monad Labs raised 225 million for the Monad blockchain. And the devnet is live. The next phases are the testnet launch, the airdrop campaign, and the mainnet launch. The recent leaks and the activities from Monad Labs confirm that the campaigns will arrive soon.
Nevertheless, as a protocol in its embryonic stages, the genuineness of the project is not yet verified. However, the backing from major venture capitalists increases its trustworthiness.
Finally, amidst all these speculations, we have to wait for the official confirmation to know the key dates and the terms of the airdrop. We have to get genuine reviews from the practical usage of the platform to understand its efficiency and trustworthiness. Let’s wait.
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