Ethereum Layer 2 MegaETH goes live on February 9, targeting 100,000 TPS with backing from Vitalik Buterin and a $450 million oversubscribed token sale.
MegaETH, a high-performance Ethereum Layer 2 backed by Vitalik Buterin, officially launched its public mainnet on February 9, bringing "real-time blockchain" speeds to the Ethereum ecosystem amid a heated scaling debate.
MegaETH released its public mainnet on Sunday, February 9, following a seven-day stress test that processed 10.7 billion transactions, a figure that exceeds Ethereum's entire transaction history over its decade of operation. The network demonstrated sustained throughput of 35,000 transactions per second during testing, with a theoretical capacity targeting over 100,000 TPS and sub-second block finality.
The launch caps a rapid fundraising trajectory. MegaLabs, the development company behind MegaETH, raised $20 million in a seed round led by Dragonfly in 2024, followed by a $450 million oversubscribed token sale in October 2025 backed by Ethereum co-founders Vitalik Buterin and Joe Lubin. The native MEGA token will unlock gradually, with certain distributions tied to network usage milestones.
MegaETH enters the Ethereum L2 landscape at a pivotal moment. Vitalik Buterin recently called for increased investment in Layer 1 scaling to reduce ecosystem fragmentation across competing rollups. MegaETH's approach, positioning itself as a "real-time blockchain" that makes onchain interactions feel like traditional web applications, could redefine what users expect from L2 performance.
The EVM-compatible network targets enterprise and consumer applications that require near-instant finality, a significant gap in the current L2 market where platforms like Arbitrum and Optimism handle hundreds of TPS rather than thousands. If MegaETH sustains its stress test performance under real-world conditions, it could attract a new wave of applications that previously considered blockchain too slow.
The key question is whether MegaETH can replicate its 35,000 TPS benchmark under organic network load with diverse smart contract workloads. The MEGA token unlock schedule, tied partially to usage milestones, creates an incentive structure that rewards genuine adoption over speculation. Early developer traction will be the clearest signal of long-term viability as the Ethereum scaling wars continue to intensify.
MegaETH's mainnet debut marks a significant moment in Ethereum's scaling roadmap. With $470 million in total funding and backing from the ecosystem's most prominent figures, the project has resources to compete. Whether its "real-time blockchain" vision translates from controlled tests to production use will be one of the most closely watched developments in the L2 space this quarter.
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