Today’s launch which was announced at the Ethereum Community Conference (EthCC) in Paris comes after the protocol reached a merger deal with BitDAO. The agreement signaled two major developments for Mantle – support from BitDAO’s $2.4 billion strong treasury and added decentralization through the DAO’s governance system.
The team tested its modular design in a testnet for over half a year, processing more than 14 million transactions on its blockchain and solving bugs to mitigate future attacks or exploits. The mainnet alpha also passed several security audits, the team added.
Mantle’s Modular Masterpiece
Notably, Mantle’s blockchain design adopts a modular structure that would section on-chain activities like consensus, data availability, execution, and settlement into separate layers. This design steps away from the monolithic blockchain infrastructure which typically handles operations on a single layer.
The goal, Mantle’s team said, is to provide users with low-cost transactions and a high-performance network that taps Ethereum’s security model. Mantle strategic advisor Jordi Alexander noted that the modular approach will also allow the network to implement upgrades and onboard advancements pushed out by Ethereum developers.
As this burgeoning space sizzles on the eve of ‘L2 Summer’, the agility enabled by Mantle Network’s adaptive and iterative design will keep it at the bleeding edge of the latest technological breakthroughs for years to come
Along with its mainnet alpha launch, the Ethereum-compatible L2 network also unveiled a $200 million ecosystem fund approved by BitDAO. According to the announcement, the fund will back early-stage decentralized applications building solutions on the Mantle network.
Several well-known venture firms contributed to the fund including Animoca Ventures, Hashkey Capital, and Pantera Capital.
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