Beginner’s Guide To Monad : Issue 0001
Welcome 🤗 to Issue 0001: Keeping Up With The GMonads
Reeeeeee — We will consider these episode of threads 🧵 as a beginners guide to #MONAD
Stay with me 🥂
Does @monad_xyz satisfy this REQ? — affirmative
I think the answer is rooted in the Monad’s Vision to create “An EVM performant blockchain” and its Mission is to ensure Monad runs 1 Billion Transactions per day
The Team
Monad was founded by Monad Labs, with three co-founders at the helm:
Keone Hon (CEO), an MIT alumnus who previously traded at Jump Trading and led a blockchain research and development team.
James Hunsaker @ (CTO), a former employee of Goldman Sachs and JPMorgan, as well as a former software engineer on Jump Trading’s trading team.
Eunice Giarta (COO), an MIT graduate with experience in trading and software project management.
What Is Monad Building
Okay 👌 Let’s take it slower — I’m no dev — I am a Noob too — so to understand @monad_xyz let’s start from the basic terms;
- Layer 1: A protocol/blockchain is Layer 1 (L1) when it completes transactions (TXNs) on its own blockchain
Does @monad_xyz satisfy this REQ? — affirmative
- Block: This is a linearly ordered set of connected transactions — TXN 1, TXN 2 … TXN — N
Let TXN represent Transactions
Each TXN updates the previous state (balance and TXN status) to a new state (new balance or pending TXN)
Once all TXNs within a block are connected, they form a new state (updated balance).
- Block Size or Block Space: Max TXN or data than can be inputted on a single block.
- Block Time: Is time taken for a set of block or TXN to be recored on the blockchain.
LOL 😂 it’s a beginner’s class mates — get your notes 🗒️
- ThroughPut: Is the maximum number of TXNs that can be processed within a specific time, usually measured in TPS (transactions per second).
Factors such as block size, block time, and consensus mechanisms affect the network’s throughput.
- Single Slot Finality: It refers to the ability of the network to finalize TXNs within a single block (or slot) — meaning that once a block is produced, the TXNs included in that block are considered confirmed and cannot be reversed.
In Context: That’s like having The Purgatory — King Loui decides tip interns at The Pipeline — say Mr A, Miss B and Mr C
Once King Loui hands over a tip — he screams, “Hey Danny, that’s $500 to Mr A — that’s done — he won’t get another tip and I can’t take the tip — Don’t Thank Me GMonad” 😂
Let’s put this in the right way — Monad Labs mission is to create a L1 — EVM compatible and performant blockchain — running at 10000 TPS per second — 1 second block time — 1 single-slot finality.
That translates to a billion TXNs a day — no chain does that 🤯
In Comparison:
Ethereum Runs: 15 — 30 TPS, 13 — 15 seconds block time and no single-slot finality
However, Solana runs 50,000 — 65,000 TPS, ≈ 400 milliseconds block time and runs a single-slot finality
Whatever monad is building is >>>>>>>> any other L1, L2 or Rollups
Purpose achieved — we successfully discussed the core basics of the #MonadEcosystem
Where does this lead us? — understanding the framework and core flagships of Monad Labs
- Parallel EVM — MVM
- Monad Speed and Fees — Best of Both Worlds
- MonadDFT
Reeeeeeeee 😊🙋
Hey Nood, #Gmonad — for sure the question 🙋 will be — What tech allows @monad_xyz to achieve such high level results and latenty and what are the implications on speed and fees??
Join me on my next episode — Beginner’s Guide To Monad — Sequential vs Parallel Executions
Feel free to review my previous Onboard story to the #MonadEcosystem — Here
