MegaLabs, the main developer firm behind a new Ethereum scaling protocol designed to be so fast it's considered"real-time," announced Thursday that it has raised $20 million in a seed round led by Dragonfly Capital.
The fresh round of capital will go towards building out the MegaETH protocol, with the aim of having a testnet go live in the next few months. “We define a real-time blockchain to be a blockchain that can process transactions as soon as they arrive,” said Yilong Li, co-founder of MegaLabs, in an interview with CoinDesk. “Then you produce the resulting outputs at a very high frequency.”
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