Industry-Shaping Move: Mantle Network Pioneers Ethereum Layer 2 Integration with ZK Validity Rollups

Mantle Network has made a groundbreaking announcement as it becomes the first Ethereum Layer 2 (L2) network to integrate zero-knowledge (ZK) validity rollups with Succinct’s SP1 technology. This historic leap forward promises significant improvements in scalability, speed, and cost efficiency for institutional-grade settlements.

Since its inception in July 2023, Mantle Network has swiftly gained traction, solidifying its position among the top five Ethereum Layer 2 networks with a staggering total value locked (TVL) of $2.2 billion. The network boasts an impressive record, having processed over 175 million transactions, deployed 1.4 million smart contracts, and connected 10 million unique wallet addresses.

As part of this monumental shift, Mantle has enhanced its infrastructure by integrating EigenLayer’s EigenDA, enabling decentralized data availability. This strategic move has enabled the network to further bolster its capabilities.

The upgrade to ZK validity rollups is poised to bring significant benefits to users. Specifically, it will drastically reduce transaction confirmation times from a previously required seven days to just an hour. This swift transformation will allow for faster settlements and enhanced security for high-value transactions, effectively making Mantle more alluring to institutional participants in decentralized finance (DeFi) and traditional finance.

Moreover, this innovation is anticipated to significantly bolster capital efficiency and user experience by integrating Succinct’s SP1 technology. The integration aims to speed up finality, reduce transaction confirmation time, and enhance liquidity and capital flow. This advancement will also benefit DeFi markets, empowering faster and more efficient asset swaps and deeper money markets.

Joshua Cheong, the Product Lead at Mantle Network, emphasized that this breakthrough is a testament to the company’s commitment to pushing the boundaries of innovation in the blockchain space.

The collaboration with Succinct has enabled Mantle Network to tap into the latter’s zero-knowledge proofs expertise, empowering developers to build scalable and secure decentralized applications. Succinct’s SP1 technology further supports rollups, bridges, and other ZK-based solutions alongside its partners Celestia, Polygon, and Lido.

Mantle Network has consistently demonstrated its dedication to fostering a more inclusive ecosystem by providing a scalable, secure, and efficient platform for high-value transactions.

Source: www.crypto-news.net