Monad has just launched its mainnet, sparking fresh debates in the crypto world about whether we really need more Layer 1 (L1) blockchains. In a recent Bankless podcast episode, host Ryan Adams sits down with Monad co-founder Keone Hon to tackle this head-on. If you're into blockchain tech or meme tokens, this discussion sheds light on how innovations like Monad could shake things up.

Why Build an L1 Instead of an L2?

The conversation kicks off with the big question: Why create another general-purpose L1 when Ethereum's Layer 2 (L2) solutions are booming? Keone explains that Monad aims to push the boundaries of performance while staying true to decentralization. Unlike some chains that rely on heavy hardware, Monad is designed to run on consumer-grade setups—like 32GB RAM, a 2TB SSD, and 100 Mbps internet. This keeps it accessible, delivering around 500 million gas per second, 400ms block times, and quick finality.

For meme token enthusiasts, this means potentially faster and cheaper transactions, making it easier to jump on viral trends without the lag or high fees that plague some networks.

Balancing Decentralization and Speed

A key part of the chat dives into decentralization. Keone stresses that Monad isn't sacrificing it for speed. He contrasts "run at home" chains like Monad with "datacenter chains" that require enterprise-level gear, which could centralize power. The goal? A blockchain that's powerful yet runnable by anyone with basic hardware.

They also touch on the purpose of blockchains: secure, decentralized value transfer. Monad positions itself as an EVM-compatible chain that's like "Solana for the EVM"—high throughput without ditching Ethereum's virtual machine.

Monad vs. Ethereum and Future Scaling

Comparing Monad to Ethereum, Keone highlights how it complements rather than competes. By optimizing the EVM with parallel processing and pipelining, Monad could handle massive scale, benefiting the broader ecosystem. He discusses Ethereum's roadmap and how Monad's tech might even feed back into it.

On MEV (Miner Extractable Value), they explore ways to minimize its downsides, ensuring fairer transactions—crucial for meme token trading where timing is everything.

Launch Details and Ecosystem

With mainnet live, Keone shares insights on the launch's decentralization, the growing ecosystem, and the upcoming Monad token. He addresses valuations of L1 tokens and compares Monad to projects like MegaETH.

Success for Monad? Becoming a go-to chain for high-performance apps, including those wild meme token launches that capture community hype.

Community Reactions

The tweet sparked varied responses. Some users are skeptical, calling it another "Ethereum killer" that might fade, while others see value in competition driving innovation. One reply humorously notes Keone's setup, and another questions internet latency thresholds for the network.

In the meme token space, chains like Monad could enable more dynamic communities, with low-cost, high-speed trades fueling the next wave of viral tokens.

If you're building or trading in crypto, check out the full episode on Bankless for deeper dives. What do you think—do we need more L1s, or should we double down on L2s?