MegaETH, a new blockchain backed by Ethereum co-founder Vitalik, has raised $20 million in a seed round led by Dragonfly, with participation from institutions such as Figment Capital, Robot Ventures and Big Brain Holdings, and angel investors including Vitalik, Joseph Lubin, Sreeram Kannan, Kartik Talwar, etc. This financing brings MegaETH's fully diluted token valuation to at least $100 million. It is understood that MegaETH is the first live blockchain fully compatible with Ethereum, aiming to achieve 100,000 transactions per second (TPS). Its public testnet is expected to be launched in the fall, and the mainnet will be launched before the end of the year. (TheBlock)