MegaETH
MegaETH is an Ethereum Layer 2 blockchain developed by MegaLabs, targeting sub-10-millisecond block times and throughput exceeding 100,000 transactions per second. The project describes itself as the first "real-time blockchain," aiming to bring transaction speeds comparable to traditional Web2 applications to the Ethereum ecosystem. Its public mainnet launched on February 9, 2026.[1]
MegaETH was co-founded by Yilong Li (CEO), Lei Yang (CTO), and Shuyao Kong (CBO), all with backgrounds in the Ethereum and high-performance systems research communities. The project raised a $20 million seed round in 2024 led by Dragonfly Capital, with participation from Ethereum co-founders Vitalik Buterin and Joe Lubin. In October 2025 it completed a $450 million token sale representing 5% of the MEGA supply.[1]
The network's architecture splits transaction ordering, execution, and verification across specialized node types rather than requiring each node to handle all functions. State is stored in RAM rather than on disk, and a novel trie design called SALT (Small Authentication Large Trie) keeps the authentication structure in memory to reduce latency.
Controversies
In June 2026, digital artist Shiro (creator of the World Computer Netizens collection) publicly accused the MegaETH team of misleading her project and providing inadequate support. Shiro stated that the team proactively approached her in October 2025 to build World Computer Netizens as a cultural flagship for the chain, promising strong integration, timely mainnet support, and a points-based incentive program ("Terminal") as a key flywheel for the community.[2]
Key allegations include:
- Repeated delays to mainnet (originally planned for November 2025) and inconsistent communication, complicating launch planning.
- Lack of post-mint support despite the collection's successful sell-out and the influx of users it attracted to MegaETH.
- Early termination of the Terminal program without adequate notice or fulfillment of promised benefits.
- Perceived abandonment after leveraging Shiro's reputation and community for ecosystem momentum, with the team reportedly stating they had "no plans for NFTs" afterward.
Shiro described feeling used for clout and left to handle community backlash alone. Supporters echoed frustrations, with some holders and collaborators (including project co-founder washieth) claiming broader negative experiences with the chain and noting an exodus of builders.[3][4]
Critics countered that aspects of the Netizens community were toxic toward other projects and builders, and questioned delivery on post-mint promises. The episode highlighted tensions between MegaETH's technical ambitions and its support for cultural/NFT initiatives. The MegaETH team had not issued a detailed public response as of June 2026.