What is Mantle Network
Mantle Network is a modular Layer 2 EVM-compatible blockchain that utilizes optimistic rollups. It incorporates EigenDA of EigenLayer for data availability and achieves better performance and lower costs through the use of multi-party computation.
What is Mantle ?
Mantle is a Layer 2 network built on top of the Ethereum OP stack and supported by BitDAO, holding the largest treasury in DeFi with an estimated total value of over 2 billion dollars. It utilizes optimistic rollups with private communication networks to execute multiple transactions simultaneously, efficiently communicate with the main network, and ensure protection against infiltration by malicious blocks in a sequential order.
Rollups are a common feature among Layer 2 EVM networks. According to current information, Mantle Network’s scaling solution is at the core of its functionality. With the ability to confirm thousands of transactions at a lower cost simultaneously, Mantle can provide faster transaction processing times and significantly lower transaction fees.
How does the Mantle Network operate?
At the core of the Mantle Network’s functionality, there are four main players;
- Optimistic rollups technology
- Modular network architecture
- Multiparty computation and a protocol protected against fraud
- And Mantle Data Availability (Mantle DA) nodes
These four players work in synergy to establish tight communication with the main network, ensuring a resource-efficient and secure network, and maintaining it.
Why Mantle Network?
According to data from L2Beat, the cumulative market value of 28 Layer 2 solutions is over 10 billion dollars. Additionally, Layer 2 platforms are proliferating, each claiming to provide an alternative to Ethereum while catering to decentralized applications. Here are some features that could set Mantle apart from its competitors:
Cost Savings
Compared to the Ethereum mainnet, the reported fee per transaction on the Mantle Network is a bargain. The project claims a reduction of over 80% in gas fees. Quoting from a real-world scenario based on data from official explorers for both networks, the average gas fee on the Mantle Network is 0.06 Gwei, compared to 19 Gwei on Ethereum. While this ratio may fluctuate significantly over time and during periods of high demand, it is likely that Mantle will continue to offer lower fees than Ethereum through the use of rollups.
Even when compared to other Layer 2 solutions like Optimism, which charges a gas fee of 0.16 Gwei, Mantle’s fees are still lower since it utilizes EigenDA for data availability instead of Ethereum. Crypto enthusiasts looking to save time and money on fees may prefer Mantle Network.
Performance
Mantle Network’s 500 TPS is 20 times faster than Ethereum’s 32 TPS, making it a strong competitor among other smart contract platforms. The reported block time of approximately 10 milliseconds means that transactions are completed almost instantly. This reduces latency and increases transaction throughput, improving the user experience with quick transaction confirmations.
Overall performance at any given time may be subject to demand conditions, but Mantle claims to be built to meet higher demands without compromising efficiency (scalability).
Security
Mantle inherits the security architecture of the Ethereum network by not completely moving away from the mainnet. In addition to validators and fraud proofs, Mantle also utilizes MPC (Multi-Party Computation) nodes to verify the validity of a block, aiming to reduce challenge times over time. What is Mantle NetworkWhat is Mantle NetworkWhat is Mantle NetworkWhat is Mantle Network