Vitalik Buterin has backed a new blockchain project, MegaETH, which recently raised $20 million at a '9-figure' token valuation. MegaETH aims to push the performance limits of blockchain technology, similar to what Firedancer is to Solana. The project focuses on maximizing performance by leveraging a heterogeneous blockchain architecture and a 'hyper-optimized' EVM execution environment to achieve 100,000 transactions per second (TPS) in real time. MegaETH utilizes Ethereum security, Optimism's fault-proof system, and its own optimized sequencer to enhance scalability. The project has garnered support from notable figures in the blockchain community, including Joe Lubin, Viktor Bunin, and Hotpot DAO, who praise its innovative approach to rollup scalability by centralizing the sequencer while decentralizing the provers. MegaETH Labs continues to push the envelope of what’s possible in blockchain technology.