Mantle Network - 500% faster, 80% cheaper than ETH?
Pascal Leblanc is the current CEO, CTO, and Founder of Mantle, and Co-Founder of Ambo Technology. He previously worked at EY as a Blockchain Strategist. Pascal Leblanc attended the University of Quebec at Trois-Rivières. Pascal Leblanc has 2 current jobs as Founder, CEO & CTO at Mantle and Co-Founder at Ambo Technology.
Source: Youtube
Mantle Network is a technology stack for scaling Ethereum, who strive to be EVM-compatible while doing so. Being EVM-compatible means all the contracts and tools that work on Ethereum also work on Mantle Network with minimal modifications. Users can experiment with exciting web3 apps, and developers can deploy smart contracts in an efficient, low-fee environment.
At its core, Mantle Network has been built with a modular architecture that combines an optimistic roll-up protocol with an innovative data availability solution. This allows Mantle Network to inherit security from Ethereum AND offer cheaper and more accessible data availability.
Ethereum rollups, including Mantle Network, leverage the Ethereum validator set and consensus protocol, which is widely regarded as more secure compared to other layer-1 (L1) validator sets. This grants Mantle Network several advantages, such as:
- Canonical bridging without relying on third-party bridges
- Censorship resistance
- Fund recovery options even in the event of critical issues on layer-2 (L2)
Mantle Network is an L2 scalability solution built on top of Ethereum. The validator nodes collect transactions from users and commit them to Ethereum in the form of a "compressed block". This compression saves users expensive gas fees and increases the total possible throughput for transactions.
By building on top of Ethereum, Mantle Network inherits desirable features like-
Secured by Ethereum: L2 state transitions are verified by Ethereum validators, going through the same consensus and settlement process as L1 transactions.
Common developer infrastructure: Smart contracts development frameworks like Truffle, Hardhat, Foundry, Remix, etc., languages like Solidity, Vyper, Yul, etc., and libraries like Web3.js and ethers.js, etc. can all be used on Mantle.
At the same time, Mantle Network offers a superior user experience with multiple other benefits as compared to L1:
Significantly lower gas fees: Users enjoy over 80% reduction in gas fees, which are achieved through data compression and modular data availability.
Reduced latency and improved throughput: Users can customize transaction confirmation requirements, with the lowest security setting providing near real-time confirmation latencies (~10 milliseconds versus Ethereum's ~12 seconds). Additionally, Mantle Network achieves a transaction throughput some 20 times greater than Ethereum (500 TPS versus Ethereum's ~25 TPS)
Mantle Network takes a modular approach with chain design. While monolithic chains perform transaction execution, consensus, settlement, and storage at the same network layer, these processes are handled by separate modules on Mantle Network.
In its initial Mainnet version, Mantle Network functions as a Smart Contract Rollup with modular data availability. Hence,
- Mantle's execution layer provides an EVM-compatible environment for transaction execution where the sequencer produces blocks on L2 and sends state root data to L1
- Consensus and settlement take place on L1 Ethereum
- Data availability services are provided to network actors through Mantle DA powered by EigenDA that stores callback data that would be published to L1 in traditional rollups
EigenLayer is a middleware that is built on the Ethereum network, which lets protocols that integrate with it leverage Ethereum’s highly secure trust network without needing to establish its own validator set, offering an off-chain data availability option to Layer 2s to reduce costs further.
Problems tackled by Eigen Layer:
Difficulty and cost inefficiency in establishing protocol security.
Lack of sovereignty
Lack of trust in other protocols
Benefits of Eigen Layer:
Increased protocol security
A high degree of flexibility
Increased capital efficiency
Optimistic Rollups execute transactions that result in state transitions, and updated state data are published to L1 Ethereum, assuming their validity and without providing any direct proofs for the same. Mantle Network sends updated state data to a State Commitment Chain (SCC) contract on L1, where network actors can challenge its validity within a challenge period (currently set to 7 days). If the state data goes unchallenged, it is considered other smart contracts can process valid and final and withdrawal requests that rely on this state data.
If a commitment gets challenged, a verifier interacts with the challenger to narrow down the invalidity to a single state transition, at which point its validity is established by executing it. In case of a successful challenge, the state transition is discarded and the contract accepts the valid version of the updated state submitted by the challenger.
Network Architecture
Source: Mantle
This diagram illustrates how different network modules and components interact with each other going through transaction execution and eventually publishing updated state data to Ethereum L1, and storing the rollup data on the Mantle Data Availability (DA) powered by EigenDA technology. Let's go over the process of transaction handling to understand better how each module works.
1.Users send signed transactions via an available RPC node.
2.The Sequencer receives transactions and pack them into blocks. The DTL (Data Transport Layer) service syncs this block data. Verifiers sync the L2 block data from the DTL.
3.The batch submitter fetches updated state roots and sends them to the Threshold Signature Scheme (TSS) module to be verified and signed. Verifiers can also fetch the state root data and confirm their validity.
4.Once TSS nodes establish the validity of the updated state roots and sign off on the rollup batches, the batch submitter publishes the state root data to the State Commitment Chain (SCC) contract on L1 Ethereum.
5.The rollup transaction data is stored on Mantle DA. Verifiers can fetch this data at any point and verify its validity. This action is performed when issuing fraud-proof challenges.
6.Mantle DA nodes also post the validity certificates to L1, guaranteeing liveness and availability with each new batch.
7.In case the state root validity is challenged with a fraud-proof, L2 data is posted to the contract on L1 to perform the execution and check state transition validity.
Data availability (of L2 batch data) is a critical aspect of Ethereum rollups, such that L1 validators can verify the L2 state. DA is generally the most expensive component of rollups, as it requires Ethereum L1 block space. Common industry approaches to data availability include:
On-Chain L1: All data that is needed for proof construction is available on L1.
Centralized DA Committees: Data for proof construction is not available on L1. There exists a committee tasked with supplying the data. This approach presents significant cost savings to the rollup, at the risk that data becomes unavailable.
Modular Data Availability**: Standalone DA modules, like Mantle DA powered by Eigen Layer Data availability is enabled via DA economic game theory involving rewards and stake slashing. Based on internal evaluations, this translates to a 30-70% cost savings compared to on-chain L1.
MNT is a native token in the Mantle network with various functions in the Mantle ecosystem. The token name change from BIT to MNT was approved through BIP-21. MIP-22 (Mantle Improvement Proposal) is the proposal that converts BIT to MNT with a 1:1 ratio and approves the “mint” function and upgradeability parameters on MNT tokens. So, the Mantle Governance community (the name for the new BitDAO community) agrees that the function of the MNT token can be adjusted through the Mantle Governance system.
The main function of the MNT token is as a governance token within Mantle Governance. This function is the same as that of the ARB and OP tokens. However, unlike those two projects, MNT also has a use as a gas fee token within the Mantle Network ecosystem. This is possible because Mantle converts MNT to ETH for the users.
In addition, Mantle DA also allows Mantle to use a double token staking mechanism using MNT. Details on the interaction of MNT and Eigenlayer’s restaking infrastructure are yet to be determined. Mantle also has plans to create mntETH products as LSD tokens. All changes to the MNT token will need to go through the Mantle Governance process.
MNT can be purchased at these big exchanges:
1. Binance Exchange- you can purchase using your mobile phone or desktop. You only need to follow the steps as instructed. You can also receive a 25% discount on trading fees using Binance Coin (BNB) instead of cash. Use the link above for a bonus 10% discount.
2. CoinBase This is one of the most popular platforms because it is easy to use on your phone or tablet and is available in most countries. On CoinBase, you will also find many of the top 100 coins. CoinBase will send email confirmations for another layer of security if you are using a PC. CoinBase also can be used on your phone. When you join CoinBase you can get US $10 in free Bitcoin when you buy or sell $100 or more, by using the above link.
3. Get free crypto by browsing the internet: use Brave Browser instead of Edge or Chrome, block ads, and earn by browsing. Click here to start.
4. Get free crypto by paying your bills! Use the prepaid CRO Visa debit card to pay for purchases and receive 3% cash back on purchases; up to 100% rebate for streaming services. No account fees, no interest charges, no credit checks. Use this link to get free US$25 when you open an account.
5. OKX, you can purchase cryptocurrencies using this link to sign up and get a 10% discount on trading fees.
6. Bitunix, you can purchase cryptocurrencies using this link to sign up and get 10% off trading fees
7. For the Aussies: Coinstash is an Australian crypto exchange based in Brisbane. New users can get $10 free on signup using this link
8. After you purchase any cryptocurrencies, if you would like to store the coins in offline devices for safety, you can use Ledger
Congratulations on educating yourself about this crypto project through Cryllionaire.com. We also profile a few coin projects, CEO interviews, and group chats on our YouTube channel.
If you find investing on your own to be difficult or time-consuming, we have you covered! Bostoncoin is a "done for you" diversified crypto fund where you can easily invest in 30-40 coins. A professional hedge fund manager takes care of the investment, so you can handle your busy lifestyle. Join the community and find out more at www.BostonTrading.co