Wednesday, one of the world’s largest decentralized autonomous organizations Bitdao announced the soft launch of its modular Ethereum Layer 2 (L2) network called Mantle. It claims to enhance lower fees and faster transactions. According to the Bitdao team, Mantle’s public testnet will be released in 2023.
Decentralized Autonomous Organization soft-launches Mantle, “the connective tissue of various Bitdao initiatives”
2022 will be a mass market dedicated to the Layer 2 (L2) Ethereum network innovation. On November 30, 2022, Decentralized Autonomous Organization (DAO) Bitdao announced the soft launch of a new L2 called Mantle. According to the webpage, Bitdao is a collection of “builders, products and a mutually beneficial ecosystem” governed by the BIT token.
At the time of writing, stats from deepdao.io show that DAO is his second largest under his DAO on Uniswap. According to deepdao.io data, Bitdao’s treasury is worth about $2.7 billion, which consists of tokens such as BIT,ETH, USDC,USDT. As far as the mantle goes, Bitdao explained in a press release sent to his Bitcoin.com News that the technology is “the first L2 solution that combines a modular architecture with the security and decentralization capabilities of the Ethereum blockchain.” .
Jacobc.eth, Head of Product at Windranger Labs in Bitdao, said: An ecosystem of [decentralized apps] is enabled by Bitdao. Windranger Labs executive added:
Mantle is Bitdao’s demonstration of scaling Ethereum and his Web3, enabling a whole new generation of use cases and innovation. to
Mantle aims to offer “lower gas prices” and faster transaction speeds, along with a “next generation network design,” BitDAO’s collective said. Additionally, defining two new opcodes, Smart will be the first network to adopt EIP-3074, his Ethereum Improvement Proposal that extends contract functionality and metatransactions.
Mantle will not be the only L2 scaling solution introduced in 2022. Because there are a lot of L2 products these days. This includes L2 scaling solutions such as Loopring, Immutable X, Zksync, Arbitrum, Optimism, Polygon’s Hermez (now called zkEVM). Bitdao details that it aims to have the Mantle public testnet ready “to go live in 2023” alongside a comprehensive incentive program.
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