{"id":"namik-muduroglu","title":"Namik Muduroglu","content":"**Namik Muduroglu** is a member of the founding team and serves as the Chief Strategy Officer (CSO) at [MegaETH](https://iq.wiki/wiki/megaeth) Labs. He is involved in the development and strategic direction of megaETH, a project described as an extension of [Ethereum](https://iq.wiki/wiki/ethereum). [\\[1\\]](#cite-id-PIgyNJpC7K)[\\[7\\]](#cite-id-y3ZEhiL2e0)\n\n## Education\n\nNamik Muduroglu attended NYU Stern School of Business, where he earned a Bachelor's degree in Business and Political Economy.\n\nHe also volunteers as a Global Shaper at the World Economic Forum. The Global Shapers Community is a network of young people driving dialogue, action, and change. [\\[7\\]](#cite-id-y3ZEhiL2e0)\n\n## Career\n\nBefore co-founding MegaETH, Muduroglu worked at Consensys as a Strategic Business Developer until 2024.\n\nHe then co-founded and served as the board member of Foundation for a Human Internet (humanID), an award-winning open-source, bot-resistant non-profit to promote safer online communities. [\\[7\\]](#cite-id-y3ZEhiL2e0)\n\n### MegaETH\n\n[MegaETH](https://iq.wiki/wiki/megaeth) is an EVM-compatible [blockchain](https://iq.wiki/wiki/blockchain) project co-founded by Muduroglu alongside [Shuyao Kong](https://iq.wiki/wiki/shuyao-kong), [Yilong Li,](https://iq.wiki/wiki/yilong-li) and [Lei Yang](https://iq.wiki/wiki/lei-yang). The project aims to achieve high transaction speeds, targeting 100,000 transactions per second (TPS) with millisecond latency, and describes itself as the \"first Real-Time [Blockchain](https://iq.wiki/wiki/blockchain)\". [\\[8\\]](#cite-id-eUwM6QZ14j)\n\nIts mission is to enable fully onchain, interactive, and sophisticated applications.\n\nThe project has received early financial backing from investors including [Vitalik Buterin](https://iq.wiki/wiki/vitalik-buterin) and Joseph Lubin.\n\nIn June 2024, [MegaETH](https://iq.wiki/wiki/megaeth) raised $20 million in a seed funding round, which valued the token at a \"9-figure\" amount [\\[8\\]](https://iq.wiki/wiki/shuyao-kong#cite-id-TXjoYi1b3R).\n\nIn December 2024, the project raised $10 million in approximately three minutes through a sale on the Echo platform. This sale saw demand of $40 million for the $4 million available, with the first wave selling out in 56 seconds and the second in 70 seconds, attracting participants from 98 countries. [\\[9\\]](#cite-id-wvW6e155Ag)\n\n## Views on Blockchain Technology\n\nMuduroglu has articulated specific views regarding the strengths and weaknesses of various [blockchain](https://iq.wiki/wiki/blockchain) networks, particularly [Ethereum](https://iq.wiki/wiki/ethereum) and competing Layer 1 platforms.\n\n### On Ethereum\n\nMuduroglu regards [Ethereum](https://iq.wiki/wiki/ethereum) as the most decentralized Turing-complete [blockchain](https://iq.wiki/wiki/blockchain) with the strongest liveness guarantees, asserting that it *\"will never go down\"*. He describes [Ethereum](https://iq.wiki/wiki/ethereum) as having successfully become the \"most trusted settlement layer in crypto\" [\\[4\\]](#cite-id-jbfG8SHNIo). However, he also acknowledges that [Ethereum](https://iq.wiki/wiki/ethereum)'s prioritization of decentralization has resulted in a \"slow chain with high fees\" [\\[5\\]](#cite-id-SWGiJhN3xw). He has characterized [Ethereum](https://iq.wiki/wiki/ethereum) as a \"once in a lifetime\" technology [\\[6\\]](#cite-id-MSDovHgyGf).\n\n### On Other Layer 1s\n\nHe notes that high-performance [Layer 1](https://iq.wiki/wiki/layer-1) blockchains have gained traction partly due to the performance limitations of Ethereum's [mainnet](https://iq.wiki/wiki/mainnet). While acknowledging the existence of multiple high-throughput blockchains, he suggests that these are primarily focused on replicating existing use cases. He has contrasted [Ethereum](https://iq.wiki/wiki/ethereum) with [Solana](https://iq.wiki/wiki/solana), stating that \"[Solana](https://iq.wiki/wiki/solana) is once in a cycle, [Ethereum](https://iq.wiki/wiki/ethereum) is once in a lifetime\"  [\\[5\\]](#cite-id-SWGiJhN3xw)[\\[6\\]](#cite-id-MSDovHgyGf).\n\n### On MegaETH's Purpose\n\nMuduroglu positions [MegaETH](https://iq.wiki/wiki/megaeth) as an \"extension of Ethereum\" [\\[2\\]](#cite-id-dioQb7wTVa). He states that [megaETH](https://iq.wiki/wiki/megaeth) is designed to enable experiences and applications that are secured by Ethereum but are not possible on the Layer 1 itself. He describes megaETH as \"unapologetically performant,\" making performance-first design choices while aiming to be more performant than alternative Layer 1s and not less decentralized than Ethereum. He encourages those looking to build \"tomorrow's use cases\" to consider [megaETH](https://iq.wiki/wiki/megaeth). [\\[1\\]](#cite-id-PIgyNJpC7K)","summary":"Namik Muduroglu is a member of the founding team and the Chief Strategy Officer (CSO) at MegaETH Labs. 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