Mantle Network- Blockchain for scaling Ethereum

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.