It is the sixth day since Monad Devnet went live, and the celebration hasn't ended. Thousands of developers and blockchain enthusiasts worldwide have been celebrating because the achievement is worth it. But there is you, another Anon who wants to celebrate but has no idea what the Devnet means. “Are we all welcome in Monad Devnet? What does a devnet even mean? I will explain.

WHAT EXACTLY IS A DEVNET?

In the development of blockchain protocols, the Devnet is a phase where developers are given opportunities to test the Blockchain network. It mimics the conditions of the mainnet, allowing developers to run, debug, and test the Blockchain network to gauge its performance during the simulation of real-world usage.

Why are these Tens of Thousands of Users and Developers Celebrating the Devnet?

Firstly, Monad is every developer's dream. That’s it.

Secondly, many developers have had to build on protocols where they had to make unhealthy trade-offs in their decentralized apps. By building on traditional blockchains like Ethereum or Solana, sacrifices must be made concerning accepting ridiculously high gas fees and few transactions per second as with the former and the risk of highly performant dapps becoming inaccessible whenever Solana goes down. High gas fees are a hindrance to mass adoption while blockchains going down is also a betrayal of a blockchain not having a single point of failure.

With the era of Monad now in fruition as the next-generation blockchain platform, a developer gets more than they can imagine such as inherited security and research from the Ethereum network, cross-compatibility of decentralised applications built on the Ethereum Virtual Machine (EVM), the low gas fee of Solana, the developer tooling of the EVM like Foundry, Hardhat and Slither. And also, the based Community of Nads!

With monad in devnet, developers are steps closer to building in real life on this protocol of their dreams.

IS MONAD'S DEVNET OPEN TO THE PUBLIC?

No. Monad's devnet is the first step towards a public testnet phase. Some people (established developer teams) were privately selected to run the devnet. This is the best option to get the maximal report on the performance.

MILESTONE OF THE DEVNET

10000 transactions per second (TPS)! (With a superior way of counting transactions)

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WHAT IS COOL ABOUT PROCESSING 10000 TRANSACTIONS IN A SECOND?

In the blockchain industry, TPS represents the maximum number of transactions a blockchain can carry out in a second, it is used to measure a network's speed and scalability when multiple applications are being used concurrently on it.

WHY IS TPS IMPORTANT?

The TPS of a Blockchain network is important as a metric because it measures the network's capabilities to process real-time transactions and accommodate new use cases and users. Ethereum, the most popular Blockchain has a TPS of 15 - 25, while Bitcoin does 7. Comparing this to a centralized payment protocol that is ridiculously low. Visa can process a maximum of 65,000 TPS, and PayPal has a peak TPS of 450.

This is where Monad gets cooler, and says hold my beer Anon.

In calculating TPS in Blockchain, there is no “how-to” or “how not to” to do it. The method used in calculating the transactions that happen on a blockchain in a second varies according to the preferences of the team that built the blockchain. This can be misleading.

The first several million blocks on Ethereum included basic transactions but more recent transactions are far more complex, calling intricate smart contracts with multi-step calculations like atomic transactions!

Monad gives you Real TPS. By using a real metric for calculating and replaying all recent total transactions on Ethereum including intricate details like transfers, votes etc, Monad can process actual transactions and not votes or random functions that are subsets of a true on-chain transaction. This brings us to a useful method that can serve as an industry-standard benchmark for measuring the transactions of a blockchain.

Imagine! 10,000 transactions per second. 36,000,000 transactions per hour.

That's almost ONE BILLION transactions per day.

Stop Imagining Anon, Devnet Is Live!

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Thanks to snownad and Chidubem for reading and editing the drafts of this.