The <a href="https://www.cryptoknowmics.com/news/sec-tries-to-suspend-sale-of-american-cryptofed-dao-tokens">decentralized autonomous organization (DAO)</a> BitDAO has <a href="https://twitter.com/BitDAO_Official/status/1597942493899034624" target="_blank" rel="nofollow noopener">established</a> an Ethereum Layer 2 network called Mantle. The BitDAO treasury is valued at approximately $1.7 billion.

https://twitter.com/BitDAO_Official/status/1597942493899034624
<h2>Mantle - An Ethereum Layer 2 Chain</h2>
The mantle is an <a href="https://www.cryptoknowmics.com/news/lido-finance-introduces-ethereum-layer-2-staking-and-ldo-incentives">Ethereum Layer 2</a> chain that is modular. In contrast to the more traditional monolithic networks, where all network operations take place on the base coat, modular networks offer a novel approach to creating blockchains. For network consensus, transaction execution and resolution, and availability of data, there are various levels on modular <a href="https://www.cryptoknowmics.com/news/ibm-and-maersk-to-shut-down-tradelens-logistics-blockchain">blockchains</a>. According to this design's method, networks will be more effective and scalable.

According to the release, the Layer 2 network architecture of BitDAO contains three unique layers. The first layer is responsible for transaction execution, and the second and third layers are for transaction closure and accessibility of information, respectively.
<h2>Limelight From Alt-L1s</h2>
A BitDAO representative said that Mantle is BitDAO's effort to address some of the issues Layer 2 networks are now encountering. The representative stated that BitDAO seeks to reclaim the limelight from Alt-L1s for Ethereum and provide market players with the finest <a href="https://www.cryptoknowmics.com/news/chainlink-labs-and-landvault-collab-to-grow-web3-metaverse-applications">web3</a>, <a href="https://www.cryptoknowmics.com/news/defi-exchange-platform-dydx-sets-solana-to-close-only-mode">DeFi</a>, and <a href="https://www.cryptoknowmics.com/news/realfevr-raises-e10-million-to-build-the-ultimate-web3-gamefi-sports-ecosystem">GameFi</a> have to offer.

According to reports, Mantle will provide better functionality than existing Layer 2 networks. The release said that BitDAO's Layer 2 network, supported by a decentralized data accessibility layer, will have quicker throughput and lower costs. BIT, the governance token of BitDAO, will be used to pay trading costs on Mantle.
<h2>EigenLayer - Collaborator of Project</h2>
One of the project's collaborators is the Ethereum middleware platform EigenLayer. The Layer 2 network officially launched on Wednesday with the announcement. An incentive-based public testnet for Mantle is anticipated to launch the next year.

BitDAO Introduces Scalable Ethereum Layer 2 Network Mantle

BitDAO has established an Ethereum Layer 2 network called Mantle. The BitDAO treasury is valued at approximately $1.7 billion.

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

BitDAO Introduces Scalable Ethereum Layer 2 Network Mantle

Top Picks