PANews reported on March 14 that, according to The Block, Monad, a Layer 1 blockchain compatible with Ethereum, has reached a score of 10,000 transactions per second (TPS) in internal tests and has launched its developer network (devnet). Monad has announced that its public testnet will be available soon, with the main network expected to be released later this year. Monad aims to provide up to 10,000 transactions per second and a one-second block time by optimizing how Ethereum works, but this could double the hardware requirements for node operators. Monad Labs, the company behind it, was co-founded by a former Jump Trading developer and is currently considering a funding round of more than $200 million led by venture capital firm Paradigm.