Hello everyone, I am 𝟏𝟎, welcome back to the #区块链发展史 project investment research series. Today, we will focus on "Mantle Network / MNT".
Mantle Network is an efficient second-layer solution that aims to provide extreme scalability, high security, and low-cost experience for Ethereum through modular design.
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1. Introduction to Mantle Network
Mantle Network is a second-layer network built on top of Ethereum. Think of it as an accelerator for Ethereum. It uses a technology called Optimistic Rollup to make your transactions fast and cheap while maintaining the security of Ethereum.
In other words, Mantle Network is a toolkit for upgrading Ethereum, allowing developers and users to continue using familiar tools and smart contracts without having to relearn. In particular, Mantle Network is the first Layer 2 network driven by a DAO (decentralized autonomous organization), and is the first to introduce a new model of Token governance.
1. Mantle Network team background
Mantle Network is a Layer 2 solution incubated and supported by BitDAO. The original idea came from Bybit CEO Ben Zhou and other well-known members of the crypto community, such as Sreeram of EigenLayer, Dow Jones and Cooper Midroni. The team has more than 50 experts from various fields, and everyone collaborates in a flat management model, which is a completely unconventional and dynamic way of operation.
2. Why choose Mantle Network
Mantle Network was chosen because it finds a good balance between security and efficiency. Each of its modules can operate and upgrade independently, making the application of new technologies more convenient.
On the Mantle Network, the transaction process is very efficient: first packaged at layer 2 by the Sequencer, and then transmitted to the Ethereum mainnet for final verification. In terms of data sharing, Mantle DA uses EigenDA technology, which significantly accelerates information transmission between Mantle Network and Ethereum.
Mantle Network is committed to solving Ethereum's scalability bottleneck and improving transaction processing capabilities by reducing gas fees. MNT is Mantle's native token, and you can support and enhance the security and stability of the network by staking tokens.
3. L2 Dilemma and Mantle Technical Architecture
There are two main solutions for Rollup technology: OP (Optimistic Rollup) and ZK (Zero-Knowledge Rollup). OP verifies transactions through "fraud proofs", while ZK uses "zero-knowledge proofs". The challenge of OP is the high storage cost of CallData, while the problem of ZK is the high computational cost. Currently, these solutions all rely on centralized sorters, which brings certain single point failure risks.
Mantle is a protocol based on Optimistic Rollup, but it has a unique modular architecture. This means that Mantle separates transaction execution, data storage, and confirmation into different modules. Doing so can improve the performance of each part without affecting the security of the overall network.
1. Mantle uses EigenLayer innovation to significantly improve efficiency
Mantle greatly reduces the cost of blockchain transactions by introducing a new way of data storage. In traditional blockchain systems, each transaction requires recording a large amount of data on Ethereum, which is expensive and accounts for the vast majority of transaction fees.
Mantle uses EigenLayer, an independent data storage network. It allows Mantle to record only the most critical information on Ethereum and store most of the transaction data on EigenLayer, which greatly saves costs.
Not only that, EigenLayer also provides strong security for Mantle through a mechanism that allows Ethereum assets to secure both networks at the same time. This means that Mantle can take advantage of Ethereum's security without having to build a new security system itself.
In short, EigenLayer significantly reduces Mantle's transaction fees and greatly improves processing speed. In addition, Mantle's token $MNT can also be used as network security and payment fuel together with Ethereum's $ETH.
Thus, Mantle’s innovation makes blockchain transactions cheaper and faster.
2. Mantle improves efficiency through multi-party computing (MPC) technology
Mantle uses a technology called multi-party computing (MPC) to make transactions faster and more secure. In simple terms, Mantle's verification nodes first reach an internal consensus to ensure that there are no problems with the transaction, and then submit the results to Ethereum. This method greatly shortens the time to discover and prove transaction errors.
MPC nodes need to pledge tokens, and if they cheat, they will be deducted money, which ensures that they will work honestly. They first reach a consensus internally, generate a multi-signature state root, and then submit it to Ethereum. In this way, the time for erroneous transactions to be discovered and processed is shortened from several days to 1-2 days.
Although this method is slightly worse than the most secure zero-knowledge proof, it is easier to implement and is suitable as a transitional solution for Ethereum expansion. It finds a balance between security and speed, significantly improving transaction processing speed and overall system efficiency.
3. Mantle uses a multi-sequencer system to improve stability and security
In the Layer 2 network, the sorter is like the "administrator" of transactions. It collects transactions, calculates status and generates blocks, which is very important. Mantle uses multiple decentralized sorters instead of a centralized one, which brings multiple benefits.
The multi-sorter system provides higher stability. If one sorter has a problem, other sorters can continue to work and the network will not be shut down. Secondly, multiple sorters reduce the risk of manipulation or censorship, making transactions more credible. At the same time, the sorter operates through a reward mechanism to ensure its long-term stability. In terms of security, multiple sorters make the system more difficult to attack. Finally, this decentralized structure takes a step towards a community-managed network, reflecting a higher degree of decentralization.
4. Mantle Network’s roadmap and future
Mantle Network currently has more than 100 Dapps, covering DeFi, games, NFTs, wallets, metaverse, social, infrastructure, and DAO. In early 2024, Mantle partnered with Nansen, a platform that provides real-time data and investment opportunities, making it easier for Mantle users and investors to find potential investment opportunities. Recently, in early July 2024, Mantle announced a partnership with Pivot to develop an ecosystem for Start Up on Web3.