What is Mantle Network (MNT)?

Mantle Network Overview**

If you've ever been stuck in traffic before, you know how frustrating the rush and congestion of the road can be. Ethereum, one of the busiest highways in the cryptocurrency world, is facing a similar problem. But now there is a new express lane that will alleviate this congestion: Meet Mantle, a Layer 2 solution.

You are asking what is layer 2? Imagine a highway overpass that helps manage the traffic below. This Layer 2 is built on the existing Ethereum 'highway', allowing for faster transaction flow, such as cars, without having to merge with the slower, busier lanes below.

Mantle has some pretty strong supporters, including the BitDAO group, who look like financial heavyweights financing a high-tech infrastructure project. He has a significant war chest, reportedly over $2.1 billion, ready to invest to make Mantle the next big thing.

Here's the interesting thing: Mantle uses a technology called " optimistic aggregations ". This is like a car sharing system that takes a number of transactions and efficiently combines them into a single, regular package, significantly alleviating the load on the network.

For developers and users, Mantle is like switching from a traffic-congested street to an open highway. It is compatible with everything they are used to on Ethereum, so there is no need to learn new rules of the road or buy a new car. In addition, this express lane comes with some state-of-the-art features that allow transactions to be confirmed in the blink of an eye compared to slower standard lanes.

Mantle also offers a modular installation; think of it as a way that can quickly adapt or repair itself without major interruptions to traffic flow. This innovation addresses the 'blockchain trilogy', which aims to balance speed, security and decentralization without compromising.

Thanks to Mantle, we are looking at a future where transactions on Ethereum can be completed up to 20 times faster, and Ethereum is preparing to show what it can do. BitDAO is providing a $200 million investment to Mantle to develop its ecosystem.

Here it is: Mantle is preparing to make the Ethereum experience smoother, faster and more affordable. It's like the highway of the future for the crypto world.

How Does the Mantle Work?*

At the heart of Mantle is an intelligent system called EigenDA, thanks to the smart people at EIGENLAYER. They found a way to use the Ethereum network, which everyone already trusts, to ensure that all the data on Mantle remains safe and intact. It's like having a communal garden where everyone's eyes are open so the flowers (or in this case the data) stay perfect.

In Mantle's world, anyone who holds MNT$ tokens can join the party, stake their tokens to help keep the garden tidy, and earn a little extra money while doing so. It's a win-win situation: they help Mantle, Mantle helps them.

Mantle has a novel approach when it comes to making sure no one is cheating. They use the Ethereum Virtual Machine, or EVM for short, to check that everything is in order. This is like having a universal translator for network security; everyone understands it, so it is much more difficult for bad guys to translate it quickly.

A transaction on Mantle takes place as follows: You send something from your digital wallet and it is transferred to Mantle's system. Mantle checks this out, packages it along with other transactions, and then sends it back to Ethereum to make it official. Because Mantle can handle a large number of transactions at the same time, it distributes costs and makes it cheaper for everyone.

These transactions are double-checked by a node team using a special code before they are sent. And to ensure that everyone can see and use this data, Mantle has a group node that stores this data and receives payouts in $MNT tokens in exchange for their problems.

Finally, since Mantle and Ethereum are like two cities in one country, they need bridges to connect them. That's what Mantle does: It builds digital bridges so that Ethereum and Mantle can exchange transactions and tokens quickly and securely. This ensures that everything runs smoothly in the bustling economy of the blockchain world.

MNT Token**

MNT is the most preferred cryptocurrency within the Mantle network and serves multiple roles in its digital ecosystem. This cryptocurrency used to be known as BIT, but after the positive reaction of the community at BIP-21, it got a new identity as MNT. The transition from BIT to MNT is a one-on-one agreement officially signed with the Mantle Improvement Proposal ( MIP-22 ). This offer also gave the green light to new features for the MNT token, such as the ability to create (or "print") more coins and adjust how the token will work in the future.

The Mantle Governance community, formerly the new team of BITDAO, agrees that they can shape the fate of the MNT token with their collective decisions.

The main role of the MNT token is to enable people to have a say in Mantle's democracy, just as the ARB and OP tokens do in their own projects. But MNT is not only about voting power; it is also the currency you need in Mantle, such as paying transaction fees. The nice thing is that Mantle can automatically replace MNT with ETH for its users.

There's also something great being worked on: Mantle is working on the idea of a dual token staking system where you can invest in your MNT tokens. The details of how MNT will play with Eigenlayer's flashy reevaluation technology are still being studied. And there are rumors about creating a new kind of Mantle-flavored Ethereum, known as mntETH, which will be a kind of LSD token. This plan is still a topic that is on the agenda at Mantle Governance forums.

Any future change and return for the MNT token will have to get approval from the community through the Mantle Governance process, keeping the power of change in the hands of everyone.

Solution***

The Mantle network is making waves in the crowded field of Ethereum's Layer 2 solutions by promising a smoother and more efficient user experience. By speeding up transactions and reducing fees, it is becoming an attractive option for developers and users. With the great financial support of BITDAO and innovative technology such as EigenDA for data processing, Mantle is on its way to outperforming competitors such as Arbitrum and Optimism in performance. Projects such as Pendle and Rare already see this as a growth path.

Despite these rumors, the future of Layer 2 networks, including Mantle, still remains somewhat of a question mark. Will they unite to create a single super solution, or will they continue to develop independently?