What is MON Coin ?
Monad Labs recently released technical documents for the upcoming Proof of Stake blockchain. The documents also contain information that the native token will be named MON.
What is Monad Labs ?
Monad is a blockchain network compatible with the Ethereum Virtual Machine, offering transaction speeds of up to 10,000 per second with a one-second block time. It claims to optimize the operation of Ethereum for increased efficiency. Documents released by the network state, ‘Monad significantly enhances the performance of an EVM-compatible blockchain network and pioneers various innovations that we hope will become standard in Ethereum in the coming years.’
On the other hand, high efficiency may be more demanding for those wishing to run a node. The hardware requirements for a full node suggest a blockchain size of two terabytes, which is twice the size of the main Ethereum blockchain. Additionally, Monad recommends having a faster internet connection, a more powerful computer, and more RAM.
The key distinction of Monad is its use of a pipelined architecture. This means it employs a gradual approach rather than executing each transaction one after another.
One key element of the network is that nodes have the ability to decide on the order of transactions in the blocks, allowing them to make decisions before the transactions are actually executed, and providing more time for each stage. This also implies that certainty will be immediately established in each block.
What is MON Coin ?
What is MON Coin is the native cryptocurrency of the Monad blockchain network, which is Ethereum-compatible. MON Coin is also bytecode compatible, facilitating Ethereum developers in migrating their decentralized applications to Monad.
In addition, Monad has been described as a derivative of HotStuff, a scalable blockchain technology, and DiemBFT, the foundational technology of the now-closed Diem project.
Users of the Monad blockchain utilize MON Coin to make payments for transactions that will be included in blocks, known as transaction costs, and for executed operations.
