Mantle Network, an Ethereum Layer 2 solution, is making a big change to a zero-knowledge (ZK) validity rollup with help from Succinct, setting a new milestone in the blockchain world.
This change in architecture seeks to improve the network’s ability to handle institutional-grade asset settlements, using its modular design and EigenLayer’s EigenDA for data availability.
Since its mainnet launch on July 7, 2023, Mantle has rapidly ascended to become a top 5 Layer 2 network, boasting a total value locked (TVL) of $2.2 billion and processing 175 million transactions.
ZK validity rollup technology will significantly reduce transaction finality from seven days to one hour, making capital movements quicker and more efficient in traditional finance and blockchain.
Mantle Network’s assets, like $mETH, $cmETH, and $FBTC, should see better liquidity and lower transaction costs, which will help boost the growth of decentralized finance (DeFi).
Important technical improvements are better bridging options, complete compatibility with the Ethereum Virtual Machine (EVM), and cheaper transaction processing. This change supports Ethereum’s focus on security and sets the stage for better interaction between different rollups, improving the user experience.
Joshua Cheong, Mantle’s Product Lead, highlighted how this change is crucial for improving the next generation of banking by enhancing efficiency and resilience. Uma Roy, CEO of Succinct, pointed out that developers can easily create ZK applications, which will help speed up the use of zero-knowledge technology.
Mantle Network’s shift to ZK rollups makes it a leader in Ethereum scalability and innovation, paving the way for a more connected and efficient future for decentralized apps and asset settlements.
