Monad brings a fresh perspective with the “Parallelization EVM” narrative. Parallel EVM is a method used by Monad to make their blockchain network faster and more efficient while also reducing gas fees for users on the Monad blockchain. With Parallel EVM, transactions will be processed in parallel without waiting in a queue, which can slow down the process within the Monad blockchain.
Ethereum, which has traditionally processed transactions sequentially, can transform into efficient parallel execution with Monad.
What is Monad?
Monad is a fully decentralized blockchain project that aims to enhance blockchain scalability with a high transaction speed of 10,000 TPS and one-second block time. Monad’s unique MonadBFT consensus mechanism and EVM compatibility enable efficient and rapid processing. Monad Labs is building a high-performance distributed EVM to scale Ethereum by 1000x. The Monad blockchain will launch on a testnet in the coming months, with the mainnet deployment planned for later this year.
The founder of Monad, Keone Hon, has extensive experience in high-frequency trading technology.
Aside from Parallellizing EVM, there are two other interesting concepts introduced by Monad, where they essentially utilize the concepts of “Pipelining” and “Asynchronous Input/Output”.
Pipelining
Pipelining is like breaking down big tasks into smaller, more manageable parts to get things done faster. For Monad, it’s a smart way to use computer resources efficiently when handling transactions on their blockchain, making sure nothing goes to waste.
Think of it like a video game company, such as Rockstar, where different teams handle marketing, art, finance, and programming. Picture the person creating 3D designs for a game character working separately from the one making it move. They’re connected, but each person has a specific job with a schedule to avoid waiting around. By breaking down tasks and doing them simultaneously, like designing and animating, the Monad Blockchain becomes quicker and more efficient.
Now, Monad has brought this idea to their blockchain, so transactions can happen at the same time without waiting for each other, making the Monad blockchain work even better by speeding things up and being more effective.
Asynchronous I/O
Then, what is Asynchronous Input/Output?
Think of it as letting your computer’s brain (the CPU) do multiple things at once, like juggling tasks while still keeping up a conversation with different parts.
Now, why does this Asynchronous I/O make the Monad blockchain work smoother? Well, it’s like the CPU can keep crunching numbers on one thing while it’s chatting with other parts of the Monad blockchain. This saves time because it’s like the computer is a multitasking pro.
Now, remember our Rockstar analogy? Picture the marketing team finishing up their work while the others are still in the thick of it. With Asynchronous I/O, the marketing team doesn’t have to twiddle their thumbs waiting for everyone else to catch up. They can dive into the next project without missing a beat. That’s how Asynchronous I/O works in the world of Monad.
We’ve also mentioned that Monad is all about Parallel Execution. What’s that about? Simple. If the transactions from users don’t depend on each other, they can happen at the same time, like different gears turning smoothly. This keeps the Monad blockchain running like a well-oiled machine, no traffic jams in sight.
However, Parallel Execution alone is not enough! Monad has also introduced another unique innovation called MonadDB!
What is MonadDB?
In simple terms, MonadDB is like a special database made by Monad to support the smooth Parallel Execution in the Monad blockchain. Let me break it down with another analogy to explain why Monad needs MonadDB to store all kinds of data in its blockchain.
Imagine you have several chefs working on different tasks at the same time – some boiling water, some chopping veggies, and some plating the food. Now, if suddenly a key ingredient is missing, what happens? It causes a delay in making the meal. What’s the fix? They need a fast supplier to deliver those missing ingredients pronto. You can think of this supplier as MonadDB, swooping in to provide data quickly and accurately.
Having a database that delivers data swiftly means Parallel Execution can happen faster and more effectively. Now, speed is important, but it’s not everything. Many blockchains claim to be super-fast in terms of Transactions Per Second (TPS), but in reality, their transactions take a while to finalize. Monad knows this and wants to avoid it. Think of it like having a super-fast sports car stuck in traffic—you can’t fully enjoy its speed. That’s why you need a smooth road, represented by MonadDB, to go along with the fast car, which symbolizes the Parallel Execution on the Monad blockchain.
In conclusion, let’s delve into the direct response from Keone Hon, the Founder of Monad.
He pointed out that before the assembly line, car production used to be incredibly expensive. What caused this expense? It wasn’t the materials used to make the car but rather the extensive time it took to build one, leading to slow production and high prices in the market.
The assembly line changed the game, making car production faster, more effective, and efficient, ultimately resulting in lower car prices. This concept closely aligns with Monad’s use of Parallel Execution. To achieve lower gas costs, Monad employs an “Assembly Line” approach in executing transactions on its blockchain. Hence, Parallel Execution Monad was born.
Monad’s blockchain technology is revolutionary and deserves keen attention for its development. We’ve touched on “Pipelining” and “Asynchronous I/O” in Monad’s blockchain technology, and there’s more to explore.
Monad is an ambitious project striving to maximize the performance of the EVM, not just on the surface but by completely overhauling the entire EVM from the ground up.
