In our commitment to continually broaden our offerings, we are introducing a new project addition: Mantle Network, a technology stack for scaling Ethereum. It is a Layer 2 scalability solution built on top of Ethereum.
This article provides you with a comprehensive overview of Mantle Network, its unique modular architecture, its native token (MNT), tokenomics, statistics, and its features. We will conclude the article by providing precise steps on how to buy or trade MNT tokens.
What Is Mantle Network?
Mantle Network is an optimistic rollup protocol that is designed to scale Ethereum. Mantle Network. The primary objective of Mantle Network is to enhance Ethereum's transaction speed (throughput) by bundling transactions off-chain through an optimistic rollup approach. Unlike traditional rollups, Mantle Network employs a unique data availability solution, resulting in more cost-effective and accessible data availability. This unique feature positions Mantle Network as a promising solution for scaling Ethereum, providing users with a more efficient and economical environment for executing transactions and deploying smart contracts.
What sets Mantle Network apart is its commitment to EVM compatibility, ensuring seamless integration with Ethereum's existing ecosystem. This compatibility allows developers and users to leverage their existing knowledge, tools, and contracts while benefiting from Mantle Network's enhanced scalability. The modular architecture of Mantle Network combines the strengths of an optimistic rollup protocol with an innovative data availability solution, striking a balance between security and efficiency. This modular approach enables the network to inherit security from Ethereum while simultaneously offering improved affordability and accessibility in data availability.
In terms of functionality, Mantle Network operates as a Layer 2 scalability solution built on top of Ethereum. Validator nodes collect transactions, compress them into blocks, and submit them to Ethereum, reducing gas fees for users and increasing overall transaction throughput. By maintaining a connection with Ethereum's security processes, Mantle Network ensures the integrity of Layer 2 state transitions. Moreover, users benefit from significantly lower gas fees, reduced transaction latency, and enhanced throughput compared to Ethereum's Layer 1, making Mantle Network an appealing choice for those seeking an efficient and cost-effective Ethereum scaling solution.
Mantle Modular Architecture
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 the Mainnet version, Mantle operates as a Smart Contract Rollup with modular data availability.
Mantle's execution layer is the space where transactions happen, and it works with Ethereum's virtual machine. It uses a sequencer to create blocks on a secondary layer (L2) and sends important data to the main Ethereum layer (L1). The important steps of consensus and finalizing transactions occur on the main Ethereum layer. Meanwhile, Mantle DA, using EigenDA technology, manages the availability of data. It keeps information ready to be shared with the main Ethereum layer, making the process of scaling Ethereum more straightforward and efficient.
What Is Mantle (MNT) Token?
The Mantle (MNT) token plays a pivotal role within the Mantle Network, serving as its native token on the Ethereum Layer 2 scaling solution. MNT has multiple functions, including covering transaction fees on the Mantle Network, contributing to the network's security and decentralization. MNT holders wield governance rights, allowing them to participate in decisions about protocol upgrades and fund allocation. Staking is another utility of MNT, enabling token holders to secure the Mantle Network and earn rewards.
MNT functions as both a governance and utility token, providing its holders with voting power in Mantle Ecosystem's decision-making processes. Every token holder has an equal vote weight, emphasizing a decentralized and community-driven approach to shaping the network's future.
Token Supply: 6,219,316,795 MNT
Market Capitalization: $1.6 Billion
Trading Price: $0.5
Cryptocurrency Rank: #41
Features of Mantle Network
Mantle Network provides a range of features, including:
- Optimistic Rollup Protocol for Scaling Ethereum: Mantle Network features an optimistic rollup protocol designed to enhance Ethereum's transaction speed.
- EVM Compatibility and Seamless Integration: Mantle Network is Ethereum Virtual Machine (EVM) compatible, this ensures smooth integration with Ethereum's existing ecosystem. This compatibility also enables developers and users to leverage their existing knowledge, tools, and contracts to develop on Mantle while benefiting from Mantle Network's enhanced scalability.
- Modular Architecture for Enhanced Security and Efficiency: Mantle Network employs a modular architecture which strikes a balance between security and efficiency, allowing the network to inherit security from Ethereum while providing improved affordability and accessibility in data availability.
- Layer 2 Scalability Solution: Mantle Network operates as a Layer 2 scalability solution built on top of Ethereum. Validator nodes collect transactions, compress them into blocks, and submit them to the Ethereum blockchain, resulting in reduced gas fees for users and increased overall transaction throughput. This approach significantly improves efficiency and cost-effectiveness compared to Ethereum's Layer 1.
- Staking for Network Security and Rewards: MNT holders have the option to stake their tokens, contributing to the security of the Mantle Network and earning rewards. This staking mechanism incentivizes active participation, fostering a secure and stable network environment.
Where to Buy MNT Tokens?
CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including MNT, users can now trade easily and seamlessly. To purchase MNT tokens on CoinEx, follow the steps below.
- Create an Account: Start by signing up for a CoinEx account.
- Deposit Funds: After logging in, deposit funds into your CoinEx account using any supported cryptocurrencies or deposit methods available on the exchange. Having funds in your account enables you to execute trades seamlessly.
- Navigate to MNT Trading Page: Once your account is funded, go to the dedicated MNT trading page on CoinEx. You can find a search box and enter the term MNT to swiftly locate the trading pair associated with MNT tokens.
- Choose a Trading Pair: Select the trading pair MNT/USDT to trade MNT against USDT (Tether).
- Specify the Purchase Amount: Determine the quantity of MNT tokens you want to purchase. Input the amount in the trading interface, which will calculate the corresponding cost based on the current market price.
- Execute the Trade: With the specified amount, proceed to execute the trade. Confirm the details, and if you are satisfied, submit the order.
By following these comprehensive steps, you can easily trade MNT tokens on CoinEx, taking advantage of the available trading pairs.