In the blockchain space, MegaETH, Hyperliquid, and Monad are three major competitors, each with different advantages in speed, decentralization, and specialization. MegaETH is a Layer 2 solution focused on real-time performance, with block times between 1 to 10 milliseconds and TPS of up to 100,000. Hyperliquid is an on-chain perpetual trading protocol that achieves TPS of 200,000, specializing in financial markets. Monad optimizes the EVM architecture through parallel execution, supporting 10,000 TPS while maintaining decentralization. Each has its own characteristics in terms of latency, TPS, EVM compatibility, application scenarios, final confirmation time, and decentralization trade-offs. MegaETH is suitable for real-time applications, Hyperliquid excels in financial markets, and Monad provides a balance between decentralization and performance. The choice depends on specific application needs.