Mantle Network is an L2 scalability solution built on top of Ethereum. It is a technology stack for scaling Ethereum. Mantle Network has been built with a modular architecture that combines an optimistic roll-up protocol with an innovative data availability solution.
How Does Mantle Work?
Modular Architecture -
The Modular blockchain is blockchain which is different from monolithic blockchain. It does execution, consensus, and other functions over multiple specialized chains. The idea of a modular blockchain is that it can specialize in a couple of functions instead of trying to do everything.
Consensus and settlement take place on Layer 1 Ethereum. The sequencer produces blocks on L2.
The validator nodes collect transactions from users and commit them to Ethereum in the form of a "compressed block" which reduces the gas fees and increases throughput.
Eigen Layer-
EigenDA (Data Availability), built by EigenLabs, is one core application on EigenLayer, which we have selected for Mantle Network's data availability module. It is a decentralized Ethereum protocol that enables ETH restocking. Restocking enables staked ETH to be used as crypto-economic security for protocols other than Ethereum, in exchange for protocol fees and rewards.
Mantle Network Properties-
Transaction per second 500
Block confirmation time - 10 milliseconds
MNTUSD prices surged more than 35% in the past three days. It hit a high of $0.839 and is currently trading around $0.7975. The pair is holding above the short-term (21 and 55-day EMA) and above the long-term moving average (200-day EMA).
The near-term resistance is around $0.85, any indicative breach above will take the pair to $1.15/$1.530. On the lower side, immediate support is $0.60, and any violation below targets $0.540/$0.450.
Indicators ( Daily chart)
CCI(50)- Bullish
Directional movement index - Bullish
It is good to buy on dips around $0.75 with SL around $0.60 for TP of $1.50.
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