Mantle Network, an innovative overlay of Ethereum (ETH), recently unveiled its Alpha launch on the mainnet. After 6 months of successful testnet trials, Mantle Network now joins Arbitrum (ARB) and Optimism (OP) as layer 2 of Ethereum based on Optimistic Rollups technology.
Mantle Network comes to Ethereum
Mantle Network, an overlay of the Ethereum (ETH) network, has just announced the launch of its Alpha on the mainnet. Mantle thus joins the ranks of layer 2 built through the technology of Optimistic Rollups, a branch largely dominated by Arbitrum (ARB) and Optimism (OP).
The deployment of Mantle on the Ethereum mainnet follows 6 months of testnet during which the network has processed more than 14 million transactions, having deployed more than 140,000 smart contractswelcomed more than 48,000 developers and saw the creation of 690,000 unique wallets.
Ethereum Overlay Ranking by TVL
Unlike ZK Rollups, Optimistic Rollups do not require any cryptographic evidence. The latter currently dominate the L2 game, in particular because of their ease of deployment for developers. However, as Vitalik Buterin himself stated, their validation method based on a 7-day should sooner or later present scalability issues.
On the side of Mantle, its particularity lies in its “multi-layer” system, which consists in isolating the execution, the data and the consensus in distinct layers. This modular architecture allows layer 2, according to its documentation, take advantage of Ethereum’s native security while offering increased performance and at significantly reduced costs.
👉 Read our guide to understand everything about Ethereum layer 2
Alyra, training to integrate the blockchain ecosystem
A layer 2 supported by BitDAO and 200 million dollars
In May, Mantle has merged with BitDAO to create a single ecosystem combining both tokenomics, governance and more generally all the products offered by the 2 entities. This merger followed a vote by the BitDAO community who wanted to access a unified product, which will also lead to the transformation of the BIT token into an MNT token.
BitDAO is currently the largest Decentralized Autonomous Organization (DAO) with over $2.33 billion. Note, however, that this cash is made up of 65.18% of its own token, the BIT.
Classification of protocol treasuries
Separately, Mantle announced a grant program to encourage the development of decentralized applications (dApps) and protocols on its network. Totaling more than $200 million, the “Mantle EcoFund” will act as a venture capital fund for the various projects wishing to be developed on Mantle.
The Alpha version of Mantle was launched in the presence of leading partners in the blockchain ecosystem, including Ankr, LayerZero and The Graph. A “state-of-the-art” network, according to Jordi Alexander, strategic advisor to Mantle :
“As this burgeoning space is on the eve of ‘L2 Summer’, the flexibility offered by the adaptive and iterative design of the Mantle Network will keep it at the forefront of the latest technological breakthroughs for years to come. »
👉 In similar news – Will the Celo blockchain become a layer 2 of Ethereum (ETH)?
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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