From: thepipeline_xyz
The announcement of Devnet marked a significant milestone for Monad supporters globally and within the EVM landscape [00:00:10]. It represents a crucial development for Monad, signaling progress in its mission to enhance blockchain performance [00:00:38].
What is Devnet?
Devnet is a fully functional blockchain environment specifically for the Monad blockchain [00:01:54]. It signifies the unification of all four optimizations of Monad’s tech stack, a culmination of nearly two years of crafting and optimizing various parts of the blockchain across both execution and consensus [00:02:04].
Key components integrated into Devnet include:
- The consensus engine, which is the core of Monad BFT [00:02:20].
- The execution engine, enabling parallelized execution [00:02:30].
- Their interactions through Monad DB [00:02:35].
This integration forms a cohesive, fully functioning system [00:02:37].
Accessibility and Future Milestones
Currently, Devnet is solely an internal environment used by the Monad core team [00:02:40]. This means it is not yet accessible to the public [00:02:46]. The next significant milestone for Monad is the launch of its Testnet, which will allow for broader access and sharing [00:02:47].
Redefining TPS: Monad’s Approach
One of the headlines surrounding Devnet has been its achievement of 10,000 Transactions Per Second (TPS) on the EVM [00:03:00]. However, TPS is often a misleading metric due to the lack of a universal measurement standard [00:03:24] and the variability in transaction complexity [00:04:01].
Theoretical vs. Real TPS
- Theoretical TPS refers to an artificially high number achieved by simplifying environments or using only simple transaction data like transfers [00:04:37]. These “transfer-only scenarios” do not reflect real-world blockchain usage, which involves complex smart contract interactions [00:04:55].
- Real TPS, in contrast, is based on the actual complexity of transactions seen in live environments [00:05:15].
Monad defines and measures TPS using real, historical Ethereum data [00:05:22]. By replaying recent Ethereum transactions on the Monad blockchain, Monad provides a more realistic and accurate view of its true performance [00:05:26]. This approach leverages Monad’s EVM compatibility, allowing applications deployed on Ethereum to also run on Monad [00:05:50]. This ensures that the measured TPS reflects the demands of a modern blockchain environment with complex smart contract interactions, rather than simple transfers [00:06:14].
Devnet’s Place in Monad’s Broader Strategy
Devnet is the first of many exciting milestones for Monad this year [00:07:52]. Its purpose is to “dog food” the blockchain, allowing the core team to identify internal strengths and areas for further optimization [00:08:02]. As a software company, Monad emphasizes continuous improvement through iterations of code development [00:08:13]. Devnet is a critical step in this iterative process, leading towards continued improvements of the Monad blockchain as a whole [00:08:30].