What is Mantle Network? Hyper-scalable Layer 2 Blockchain on Ethereum

Mantle is a new Layer 2 (L2) blockchain that seeks to provide Ethereum with ultra-high scalability via a modular chain solution with minimal fees and strong security. Mantle does this by merging a distinct layer for decentralized data availability with Ethereum extensions.

Project Overview

What is Mantle Network?

The leading decentralized organization in the world, BitDAO, released the Mantle Network initiative on November 30, 2022. The Mantle Network project is a new Layer 2 (L2) Blockchain that promises to deliver ultra-high scalability to Ethereum by implementing a modular chain solution with minimal costs and good security. Mantle does this by merging a distinct layer for decentralized data availability with Ethereum extensions.

Unlike the monolithic mechanism of action, in which all operations occur in the underlying layers, a modular blockchain separates consensus tasks, data availability, execution, and dispute resolution into specialized processing layers.

Project development objectives

Current scaling solutions (L2, sidechains, etc.) are risky. Sidechains lack proper protection, which has resulted in some of the largest attacks in the history of the blockchain (e.g., Axie Infinity, multiple bridge hacks, etc.). Their bridges are inherently unsafe, and their authentication method is frequently vulnerable as well. Due to these chains’ drastically limited permissions and security settings, decentralized protocols and projects that demand large liquidity cannot be deployed.

However, present L2s have trouble achieving hyper-scalability because to their reliance on a monolithic blockchain architecture that includes all resolution (conflict resolution), execution (dispute resolution), and available information layers. This indicates that current gas costs in L2 are too high to sustain wider deployment. Some projects attempt to overcome this issue by separating existing data into a distinct, centralized layer administered by a third-party that can be trusted.

Modular Solutions

Mantle’s strategy is superior to other options. The Mantle Network mixes aggregated files with accessible data. Using migration techniques, the Mantle team and the EigenLayer team have proved their ability to develop highly secure distributed data layers. Re-staking makes it possible for everyone who staked ETH in Layer 1 (L1) to reset Mantle-related assets (i.e. reset stETH, rETH, cbETH,… tokens)

This approach opens up many new use cases previously unfeasible in the web3 ecosystem and to wider use in emerging markets where gas taxes have pushed millions of people out of the ecosystem.

Bring in new usage options

Now, game developers can bring large numbers of subscriptions and more to the game ecosystem chain without paying huge gas fees because ultra-high scalability is now achievable, and they can do it in a way that doesn’t compromise security (like using sidechains).

Advanced social graphs and decentralized finance (DeFi) protocols (such as margin trading and complex DeFi strategies) can become reliable enough for much wider adoption. Developers can build things we haven’t even dreamed of.

Improve the user experience

Mantle’s goal is to not only create extremely secure scalability, but also to be an original L2 that implements improvements before Ethereum Mainnet or even other L2s to significantly improve the Web3 ecosystem’s user experience. 

For example, Mantle aims to be the first network to implement EIP-3074, which extends contract functionality and hypertransactions to accounts outside smart contracts (e.g., MetaMask). Metatransactions allow users to enjoy free transactions paid for by a decentralized application (dApp) developer, a friend, or even a wallet developer. This significantly reduces barriers to entry for next-generation Web3 users and allows game developers to focus on their game economy instead of teaching people to buy ETH.

Mantle is actively researching both optimistic web design and ZK Rollup. Mantle plans to thoroughly examine both arrangements and soon finalize their direction.

Project Development Team

Mantle is a product of BitDAO, one of the largest decentralized autonomous organizations (DAOs). BitDAO realized many of the dreams of the original Ethereum ecosystem by creating an incubator DAO and accelerating dozens of independent projects and organizations. The BitDAO management token $BIT is also the native token that pays for gas on the Mantle network.

By connecting one of the largest DAOs in the entire web3 ecosystem to the L2 chain, BitDAO and Mantle can truly accelerate the adoption of Ethereum L2 in a way never seen before with the creation of the L2 protocol.

Mantle is committed to creating the most advanced and innovative L2 network models for mass adoption of network technologies.

Social

Website: https://www.mantle.xyz/

Twitter: https://twitter.com/0xmantle

Discord: https://discord.com/invite/0xMantle

Twitter: https://twitter.com/IMPT_token

Summing up

Through the above article, CryptoChill has helped you learn about the Mantle Network project and the highlights of the project.

Disclaimer: This post is not investment advice. You will be 100% responsible for your investment decisions.
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