The Ethereumblockchain is one of the most popular blockchains among developers. Its plethora of tools and high level of security make it a standout. However, its high fees and scalability issues, may discourage some.
As a result, Ethereum is working very hard to improve scalability and layer two solutions to help the ecosystem grow. Mantle, is a new solution that joins the ranks. Keep reading, and today you’ll learn everything you need to know about this Layer 2 solution.
What is Mantle?
A layer two scaling solution Ethereum. It was proposed in June 2022 and is a very thoughtful tool. As a Layer 2 solution, Mantle is compatible with the Ethereum virtual machine. We wrote about what EVM is and its functions in the Ethereum ecosystem here.
What does this mean? That with this connection, developers using the system can use the intelligent contracts and tools available on Ethereum without any disruption.
What’s more, Mantle, as a layer two Ethereum solution, incorporates a modular architecture. It is in it that optimistic rollups are used with the necessary tools responsible for data availability.
Through the use of optimized rollups, data and calculations are stored outside the main chain. So are transactions – they are processed in batches. As a result, the network is less loaded, which increases the throughput of Mantle, while reducing costs.
At this point it should be mentioned that Mantle is very much related to BitDAO and ByBit. In what way? We already explain. BitDAO is one of the largest DAO in the cryptocurrency ecosystem. Mantlecontinues the goal that this autonomous organization has – to spread Web3 adoption around the world, by lowering the barrier to entry to the Web (both users and developers).
The Layer 2 solution, Mantle, will also use BIT tokens in its operation to process transactions, manage and reward stakers.
In turn, ByBit is a contributor to BitDAO. You have already noticed that the Mantle solution has the support of the full BitDAO community and network.
How does the Mantle layer two solution work?
It’s really a huge amount of technology designed to scale Ethereum. Mantle in its operation uses modular blockchain, rollups, data and bridges. All to meet its objectives. So let’s take a closer look at each component:
- Modular blockchain systems.
Execution functions, consensus, billing or data availability, are performed on special layers that can be run by validators at different levels. As a result, Mantle achieves minimal gas charges and has higher performance.
To optimize the basic functions of blockchain operation, Mantle uses the so-called Modular Rollup. It is also one of the solutions that streamlines the problem of blockchain trilemma.
This division of resources increases the efficiency of the entire network, as each layer has a different task. As a result, the execution and validation workload is reduced and focused mainly on the nodes.
- Data availability.
Mantle solves the security problem just as well. It uses EigenLayer, or re-staking protocol, to do so. It uses the existing Ethereum network to enable Layer 2 solutions to guarantee data availability.
To summarize: Mantle uses data availability from EigenLayer, thereby enabling nodes to offer data services on the Mantle network. The validators then provide their services and participate in the Mantle economic model by staking the BIT.
- Decentralized Sequencer.
In the traditional rollup model, only one sequencer is handled by the main rollup. When a particular user’s transaction is registered, he or she will receive an immediate confirmation. Unfortunately, relying on such an algorithm, results in a single source of error. As a result, it is a security risk.
In Mantle, we have no such problem. Sequencer is fully decentralized, so anyone can approve a transaction. What’s more, such individuals are incentivized with rewards in the form of BIT tokens. Many sequencer nodes created in this way increase Mantle’s resilience.
- Fraud Proofs.
Mantle implements compilation and verification of fraud proofs, directly using the Ethereum Virtual Machine. In this way, it minimizes the risks that exist across the network of validators, compilers, and clients.
- Bridges.
Layer 2 solution – Mantle and Ethereum, or Layer 1, are separate blockchains. Bridges are therefore needed throughout the ecosystem to move ETH and other tokens, between chains.
BIT Tokens
For its operation, the layer two Mantle solution will use BIT tokens. Among other things, for gas payments, staking, or other essential ecosystem functions. At the same time, it will increase the utility of the BIT token itself. It will also increase its demand.
Both existing communities and future ones will use the native token of the BitDAO ecosystem as a common tool for innovation and growth of the Mantle ecosystem.
Currently, developers and web users, can leverage the entire ecosystem of BitDAO partners and blockchain Mantle to power their applications and the Web3 network.
Roadmap Mantle
Mantle was first launched on BitDAO on November 30, 2022.
On January 10, 2023, the test network was publicly launched.
Mainnet’s Layer 2 solution, Mantle, will be released in late Q2/early Q3 2023.
Summary
There are many interesting solutions for layer two. Mantle is in this top tier. With its architecture, it wants to improve those areas that are inaccessible to others. Modular data availability, multilateral computing, or decentralized sequencer functions are promising technological solutions.Will Mantle revolutionize the Web3 ecosystem and provide better scalability solutions? Let’s follow its development as it unfolds!