MegaETH Launches Public Testnet with 20,000 TPS

ethereum

Ethereum-based L2 project MegaETH has announced the launch of its public testnet, boasting a claimed throughput of 20,000 transactions per second.

Currently, around 30 applications are running on the network, including the trading platform GTE and the prediction market Guess.Best.

According to the developers, MegaETH has achieved a block processing time of 10ms, which is 25 times faster than Arbitrum’s 250ms. In the future, the team plans to implement a proprietary parallelization mechanism to reach 100,000 TPS—a target Vitalik Buterin set for Ethereum L1 in 2021.

Earlier, Santiment analysts reported a decline in optimism regarding Ethereum.