MegaETH developer MegaLabs has completed a $20 million financing round, led by Dragonfly.

ChainCatcher news, blockchain MegaETH developer MegaLabs has completed a $20 million financing round, led by Dragonfly, with participation from Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holdings, as well as angel investors including Vitalik Buterin, ConsenSys founder and CEO Joseph Lubin, EigenLayer founder and CEO Sreeram Kannan, ETHGlobal co-founder Kartik Talwar, Helius Labs co-founder and CEO Mert Mumtaz, Santiago Santos, Hasu, and Jordan Fish (also known as Cobie).

It is reported that MegaETH is a real-time blockchain capable of processing transactions at a speed of 100,000 transactions per second, with millisecond-level response times.

In addition, MegaETH's public testnet is set to launch this fall, with the mainnet expected to go live by the end of the year.