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Monad is said to be the fastest and performance-oriented Layer 1 blockchain solution with Ethereum Virtual Machine support. Monad recently launched a testnet for users, where active EVM wallets are rewarded with test tokens. The project is set for three major operations, including testing, transactions, and building decentralized applications on top of the network. According to the official portal, the team is highly focused on performance and top-grade security without compromising speed and throughput. However, they have achieved a few milestones, including nearly zero gas fees, 0.5 second block time, and over 10K transactions per second.
Monad is targeting over a billion transactions per day without compromising major blockers such as speed and transaction fees. This approach could solve a major problem in the existing network, as we have seen that when the market turns bullish, there is a rise in transactions and volume. So, when we see huge traffic due to network congestion, transactions may fail, and there may be a huge spike in gas fees. Monad is on a mission to accomplish better software algorithms, as the current network has an execution limit of 1.25 gas per second. This software algorithm does not require high configuration, as it can run with normal specifications, i.e., 32GB of RAM, a 16-core processor, and 100 MBPS bandwidth. So, this setup can be ready for use at a price point of less than $1500.
Monad is the first blockchain to introduce a fully distributed consensus validator set to achieve a fully decentralized approach. To achieve this milestone, they will be using nodes, which have three major components, including Monad’s BFT, execution, and RPC. However, the network will consist of 100 to 200 voting nodes, and all nodes have the ability to complete transactions while maintaining the full state. All of this will be fully functional with MonadDB, which can store all states on SSD, whereas other networks use RAM. By eliminating most of the RAM work, the hardware requirement is lowered, making running a node on Monad more cost-effective.
Monad Airdrop Task
Monad is basically an ecosystem of decentralized applications, meaning that when users interact with DApps, they will be eligible to receive airdrops or rewards. Monad officially announced its ecosystem token symbol as Mon Token, which is the main component to interact with the Monad network, such as paying gas fees for basic tasks like swaps, bridging, borrowing, lending, and staking. It is also used for buying, minting, and selling NFTs, as a few NFT projects have already launched on the Monad network.
To be eligible for Monad, follow these steps:
- Visit testnet.monad.xyz
- Use an EVM wallet (Haha, Metamask, Phantom)
- Add the Monad Network to your wallet
- Claim test Mon faucet from testnet.monad.xyz
- Interact with all available DApps (Kuru, Hashflow, Bebop, Ammalgam, Nostra, Kinza, MagicEden)
For more apps: www.monad.xyz/ecosystem
Monad Price Prediction
Mon is the ticker symbol of the Monad network, responsible for transactions and processes within the network. It includes community governance voting, paying gas fees, minting NFTs, signing contracts, and various blockchain interactions. The recently launched Layer 1 blockchain has gained massive success, and we can expect Monad to follow a similar pattern. Talking about launch and allocation, details are still unknown as the testnet has just started and has massively attracted airdrop hunters. The project raised $244 million in four rounds, securing funding from major crypto OG investors, including Electric Capital, Paradigm, OKX Ventures, and Dragonfly Capital. With these major players involved, the Mon token will easily find top exchanges for listing, with a confirmed name being OKX Exchange due to its investment.
As of now, Mon tokenomics has not been officially published, and only funding details have been revealed by official sources. Given Monad’s potential, we could expect at least a $3 to $4 billion market cap, and the expected price could be around $3 to $5 USD. However, the supply will determine the actual price, but with the mentioned market cap, Monad could gain huge hype similar to ecosystems like Eclipse, Ink, Aptos, and many more.
Monad Overview
| Project Name | Monad. |
| Token/Ticker Symbol | Mon |
| Network | Monad node |
| Total Supply | NA |
| Official website & Social | monad.xyz |
| Based on | Layer 1 Low Cost Solution |
| Potential | Bullish |
| Launched Date | 2022 |
| TGE | 2025 |
| Airdrop | 2025 |
Monad Review
Monad was founded and started its development journey back in 2022, with massive funding from investors. The founders and team have great experience in the crypto space, as they were involved in building Jump Trading Platform. As we know, Layer 1 solutions have been recognized by the community due to their problem-solving approach to the current Ethereum network. However, many major players are now focusing on building Layer 1 solutions, and some are still trying to achieve scalability while maintaining decentralization.
Coming back to Monad, they are not only solving major existing issues but also trying to reduce hardware costs. Some parallel processing techniques will actually help the network resolve significant issues efficiently.