How Does Mantle Network’s Modular Architecture Scale Ethereum?
Mantle Network is a Layer 2 scalability solution designed to tackle the scalability issues of the Ethereum blockchain. It achieves this through its modular architecture, which allows for specialized chains to handle different functions instead of trying to do everything in a monolithic blockchain.
Consensus and settlement still take place on Layer 1 Ethereum, but the sequencer produces blocks on Layer 2. This modular approach allows for greater scalability and improved transaction throughput. The validator nodes in the network collect transactions from users and commit them to Ethereum in the form of compressed blocks, reducing gas fees and increasing overall efficiency.
Exploring Eigen Layer: Mantle Network’s Data Availability Solution
One of the core applications on Mantle Network’s Eigen Layer is EigenDA (Data Availability), developed by EigenLabs. EigenDA is a decentralized Ethereum protocol that enables ETH restocking. This means that staked ETH can be used as crypto-economic security for protocols other than Ethereum, in exchange for protocol fees and rewards.
EigenDA provides a decentralized solution for data availability, ensuring that data is accessible and verifiable by all participants in the network. This innovative approach enhances the security and reliability of the network, making it an integral part of Mantle Network’s technology stack.
Key Properties of Mantle Network: TPS, Block Confirmation Time, and More
Mantle Network offers several key properties that make it an attractive scalability solution for Ethereum. It has a transaction per second (TPS) rate of 500, which significantly improves the throughput of the network. Additionally, the block confirmation time is just 10 milliseconds, ensuring fast and efficient transaction confirmation.
These properties contribute to a seamless user experience and enable Mantle Network to handle a high volume of transactions without sacrificing security or decentralization. With these features, Mantle Network holds great potential to address the scalability challenges faced by the Ethereum ecosystem.
Price Analysis: MNTUSD Surges, Resistance and Support Levels
The price of MNTUSD has experienced a notable surge in the past three days, rising more than 35%. It reached a high of $0.839 and is currently trading around $0.7975. The pair has managed to hold above the short-term (21 and 55-day Exponential Moving Average) and the long-term moving average (200-day EMA).
In terms of resistance levels, the near-term resistance is around $0.85. A breakout above this level could propel the pair towards $1.15 or even $1.530. On the other hand, immediate support is seen at $0.60, and a breach below this level could lead to further downside towards $0.540 or $0.450.
Indicators and Trading Recommendation for MNTUSD
From a technical standpoint, the Commodity Channel Index (CCI) is showing a bullish signal for MNTUSD. Additionally, the Directional Movement Index is also indicating a bullish trend. These indicators suggest a positive outlook for the pair.
Based on the analysis, it would be wise to consider buying on dips around $0.75 with a stop loss (SL) set around $0.60. The potential target for this trade would be around $1.50.
Overall, Mantle Network’s innovative scalability solution and the recent surge in MNTUSD price indicate positive developments for the project. Investors and users alike can look forward to the continuous growth and development of the network as it addresses the scalability challenges of the Ethereum ecosystem.
Analyst comment
Positive news. Market analysis: Mantle Network’s modular architecture and scalability solutions are promising for the Ethereum ecosystem. The surge in MNTUSD price suggests investor confidence. Technical indicators indicate a bullish trend. Buying on dips around $0.75 with a target of $1.50 is recommended. Expect the network to continue growing and addressing scalability challenges.
