- Mantle Network announced the launch of its Alpha mainnet in July 2023.
- It comes after its merger with BitDAO and massive rebranding events.
Shortly after the launch of the Ethereum network, the developers and community members understood the task they had ahead. To make the network decentralized and secure, the developers compromised on its scalability, which soon reflected in the huge network congestion. This led to a dramatic surge in gas fees and transaction throughput, annoying several users.
Soon, research on scaling solutions began and several networks launched promising to improve the scalability. Layer 2 scaling solutions, which run atop the mainnet Ethereum layer, began appearing in the market. They enhanced scalability by taking off a load of transactions from the network while using the mainnet chain’s powerful security model.
Mantle, a Layer2 scaling solution, recently announced the launch of its mainnet Alpha. The announcement was made at the ongoing Ethereum Community Conference (EthCC) in Paris. The launch is observed as a major step in the future of the Ethereum ecosystem and will contribute significantly to making the network more scalable than ever.
The Ingredients
Mantle made its mainnet go live in January this year and completed a six-month trial and testing period. Learning and improving in the six months, led the network to launch its mainnet Alpha in July 2023.
The six-month period saw the network handling more than 14 Million transactions and executing 140,000+ smart contracts. The platform witnessed a total of 690,000+ wallet addresses visiting the mainnet while maintaining nearly 157,000 active wallers monthly. More than 140,000 developers used the network and the ecosystem deploying more than 80+ decentralized applications (dApps).
During the whole period, several security audits were conducted, whose results were carefully considered while improving the codebase. The test run helped the network boast its efficient performance and improved stability of its tech stack. Mantle DA (data availability solution) is integrated with the network and powered by EigenDA technology.
The hackathons (20+) saw hackers submitting more than 400 projects, all filled with unique solutions and strategies. Mantle even conducted Twitter spaces with the winners to help others learn from their experiences. Hackers even worked along with the in-house Mantle team and used some of the best developer tools out there. The published blogs helped the young developers’ community to clear their Solidity concepts. With such efforts, the network worked along its vision of keeping the developer community as the top priority.
The Dish
The result helped Mantle to launch separate, independent layers of data availability, execution, consensus, and settlement. Previously, all the layers were combined and the arrangement was called monolithic. With many layers, the network load is distributed, improving scalability.
This modular architecture, along with the optimistic rollups, contributes to improving the network’s scalability and performance. The network is now Ethereum Virtual Machine (EVM) compatible, which helps developers to adapt easily to the latest upgrades in Ethereum and perform more complex tasks.
The launch was announced shortly after the merger of Mantle with BitDAO, which counts as the largest decentralised autonomous organisation (DAOs). The merge resulted from the approval of the BIP-21 proposal and led to a complete rebranding of the BitDAO ecosystem.
The BitDAO treasury became Mantle treasury, BitDAO itself rebranded to Mantle Governance, and the BIT token to Mantle tokens with the ticker MNT.
Mantle, owing to the rich BitDAO treasury, now has assets worth $2.4 Billion, which will be used in future updates and projects.
Conclusion
The ecosystem approved a $200 Million fund for Mantle to encourage and support the deployment of dApp projects. Layer 2 solutions play an important role in truly making Ethereum a world computer and the launch of Alpha mainnet shows the dedication of the Mantle team to realise the dream.