Arguably the most popular blockchain amongst developers building decentralized applications (dApps), the Ethereum Network is credited with introducing the Web3 community to innovations like smart contracts while maintaining robust security standards.
However, in order to solve Ethereum’s scalability issue, a new type of Layer-2 (L2) blockchain was introduced that relies on the Ethereum Mainnet (Layer-1) for its security but processes transactions on separate third-party networks in order to increase throughput speeds.
EVM compatibility for higher transaction speeds
Importantly, developers had to ensure that these L2 blockchains were compatible with the Ethereum Virtual Machine (EVM), a run-time environment where Ethereum’s application code and smart contracts are executed, EVM compatibility ensures that smart contracts can be executed in a cross-chain. environment, enabling Web3 developers to build dApps that can interact seamlessly with each other.
As a result, a number of decentralized finance (DeFi), gaming, and social dApps are built and hosted on L2 blockchains, marking a decided shift in Web3 developers’ preferences away from the Ethereum mainnet.
Eventually, L2 blockchains started innovating with new solutions and technologies that could reduce transaction fees or gas and ramp up the network’s speed to cater to a wider audience. However, L2 blockchains have found it difficult to achieve hyper-scale without compromising on security standards because of the bridges or sidechains they employ. Therefore, in order to achieve both hyper-scale performance and Ethereum’s unparalleled security, a new kind of modular L2 blockchain had to be envisaged to provide a future-proof building platform for Web3 innovators.
Next-gen Layer 2 solutions
Introducing Mantle – a high-performance Ethereum Layer-2 network that leverages a separate decentralized data availability layer and combines it with Ethereum roll-ups to open up even more use cases for developers building on the Mantle ecosystem.
By separating execution, data availability, and transaction finality into separate layers, Mantle offers Ethereum-level security while increasing transaction speeds through reduced inefficiencies. In fact, transaction-related data is solidified on Mantle’s L2 before being broadcasted onto Ethereum, effectively trimming the challenge period and providing faster finality to the end user. In this way, Mantle is able to effectively utilize Ethereum’s massive trust network while eliminating possible blockspace congestion through its modular design.
As a result of these improvements, game developers can now build more elements on-chain without worrying about high transaction fees or struggling with poor end-user experience. Even advanced DeFi protocols that provide margin trading and other complex DeFi strategies can be developed and operated at a low cost, paving the way for much wider user adoption.
A product of BitDAO, Mantle is one example of how L2 blockchains can make Web3 technology more accessible. Moreover, the project shows how a blockchain built by a community-owned DAO can leverage member feedback and crowdsourced decision-making to constantly upgrade.
As more users and developers gravitate towards platforms like Mantle, the future of Web3 will focus more on modular L2 blockchains that can offer Ethereum’s trust while delivering lightning-fast speeds.
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