Guide to Mantle network and $MNT

Mantle is a Layer 2 solution based atop Ethereum to provide increased scalability and higher throughput, mostly to dApps. It’s a relatively recent addition, but it has already gained a lot of attention, attracting billions of dollars in value. There are many different projects under this umbrella, but Mantle Networks remains a chief point of interest.

The Mantle token, aka MNT or $MNT, is a uniform governance and utility token in this network. It’s used for many different purposes — from determining the course of the solution and paying processing fees to its integral use with Mantle-built products. In short, it’s the grease that keeps this machine running.

What exactly does it help you achieve?

Mantle explained

Mantle was created in 2023 as a cutting-edge scalability solution for Ethereum. It’s not a completely separate network, like many of the other scalability-addressing solutions of late. This would require you to shift to a completely new environment, while Mantle is much closer to Ethereum.

It’s also not totally integrated with the ETH blockchain, but it’s hugely compatible with the Ethereum Virtual Machine. It means that, with proper bridges (which Mantle has), the transition between Mantle and Ethereum is almost seamless. After all, it’s something you need to be a Layer 2 solution.

Layer 2 solutions expand upon the original network, which is considered Layer 1. In this regard, Mantle expands upon the scalability potential of the original Ethereum by introducing a number of features. Chief among them are its modular architecture and optimistic rollups.

Optimistic rollups

Optimistic rollups are a way to delegate your transaction processing tasks to lower-level, cheaper networks.

The transactions are processed individually, then bundled together and shipped back to the mainnet. The ‘optimistic’ part refers to the practice of not verifying these transactions a second time when they enter the network. Instead, the system relies on the secondary chains to complete the processing.

The security and integrity of data aren’t compromised in this case, nor is it the secondary chains that do the validating. They simply lend their processing mechanisms to make sure the transactions are all accounted for. No data is lost in the process, but you can always dispute fraudulent or false data if your transaction comes back flawed.

Modular architecture

Modular architecture is a way of breaking down the different functions and duties of a blockchain into various specialized layers. So, execution, data availability, and consensus are hosted on individual networks. This way, each of them has its own small system independent from all others.

What it means for you as a consumer is lower gas fees. Since only a single layer is responsible for processing your transactions, it can focus on this job without additional distractions. Most blockchains, including Ethereum, are monolithic. It means that all processes within them are handled within a single node or network. This can obviously overburden them.

Mantle relieves this excessive burden by spreading the many Ethereum processes across its modules. This naturally enhances scalability.

Scalability on Mantle

The result of Mantle’s feature is that the solution is able to cut the gas costs on each transaction by as much as 80%.

On blockchain, a transaction doesn’t just mean a transfer of money from one person to the other. It can also be used as a way of moving data. It means that every smart contract you create will need a certain fee to work. By hosting them on Mantle, you’ll be able to pay just 20% of what you’d usually pay on basic Ethereum.

Paying less is itself a big benefit, but it’s not all. Since you’re able to save money on individual transactions, you can also host many more of them for the same cost. It’s one of the reasons why scalability on Mantle is so superior.

The other reason is the effect of various technologies, including the optimistic rollups. Thanks to their infrastructure, they are capable of processing a lot more transactions at the same time, improving throughput even further. That’s another factor that decreases the gas costs, but that’s also why Mantle is faster than Ethereum in terms of data processing.

As a result, it’s simply more efficient, faster, and comfortable to work on Mantle. It means that you’ll be able to develop dApps or other decentralized solutions faster. That’s the main advantage of this solution.

MNT token

MNT is the governance token used on Mantle. Although essentially an Ethereum appendage, Mantle has its own governance mechanism and token. It’s much simpler compared to what you’re used to seeing on these blockchains. It’s basically a voting booth, where each MNT = 1 vote.

The governance doesn’t refer to the validation of new blocks, like it’s done on Ethereum and anywhere else. It doesn’t happen on Mantle because it’s not really a full blockchain. The new blocks are validated on the main Ethereum network, while Mantle only manages transactions and associated tasks.

The voting process on Mantle mainly determines what features, projects, and solutions on this DAO get the green light. The development of Mantle is, therefore, completely community-directed. Besides that, MNT token is also traded freely on the market. It can be bought and sold. It’s actually been fairly successful since the platform’s launch.