By Nermeen Nabil Khear 
December 19, 2024 – Singapore, Singapore
Succinct alliance establishes Mantle Network as highest TVL (total value locked) ZK (zero-knowledge) validity rollup.
Mantle Network an Ethereum layer-two known for its modular design and being the first adopter of EigenLayer’s EigenDA today announced its architectural transition to a ZK validity rollup through an industry-first alliance with Succinct.
Combining its modular architecture, data availability solutions through EigenDA and now ZKP (zero-knowledge proofs) via SP1, Mantle Network embarks on creating the liquidity chain for institutional-grade settlement and value transfer in the crypto ecosystem.
Since Mantle Network’s mainnet launch on July 7, 2023, the burgeoning on-chain ecosystem has grown to become a top five layer-two by TVL with $2.2 billion and counting.
The network has processed 175 million on-chain transactions, seen 1.4 million smart contracts deployed, connected to 10 million unique wallet addresses and maintained 4.9 million monthly active wallet addresses since its inception.
Mantle Network continues to drive capital efficiency in the on-chain economy with the integration of ZK validity rollup technology, providing crucial next-generation technical infrastructure to support and amplify secure growth of high-value asset settlements.
Backed by one of the largest community-owned treasuries globally with $4.3 billion in asset reserves, Mantle Network’s technical roadmap directly supports its vision of accelerating seamless, secure and efficient movement of institutional capital across traditional and decentralized markets.
Accelerating institutional-grade asset settlements through ZK validity innovation
With the testnet launch in Q1 2025 with intention towards mainnet upgrade, Mantle Network is set to evolve from an optimistic rollup model to a ZK validity rollup through Succinct’s SP1.
This architectural change drastically reduces chain finality from seven days to one hour enabling fast institutional-grade asset settlements that support and address capital efficiency opportunities throughout TradFi (traditional finance) and the blockchain industry.
The transformative efficiency gains of ZK validity proofs have garnered significant market traction.
Already powering applications with a cumulative $4.4 billion capital across leading ZK layer-two ecosystems, Mantle Network maintains a bullish belief in the advancement of ZK technology to further the broader Ethereum ecosystem.
Performance benefits can allow Mantle’s flagship assets such as mETH, cmETH and FBTC with an aggregate $3.9 billion TVL, to proliferate across the wider DeFi (decentralized finance) domain.
This enables better swap market spreads, lower slippage, deeper money markets, improved interest rates and broader asset availability.
Market intermediaries can rapidly rebalance inventories between Mantle Network and Ethereum and users can quickly move permissionlessly to access a unique set of onward routes and integrations.
Key technical benefits
The strategic integration of Succinct’s SP1 offers a suite of advanced features catered to developers and users including the following.
- Fast finality Boasting a 168x improvement in bridging capabilities, transactions achieve finality in one hour, enabling quick withdrawals and seamless operations to redefine user experience.
- EVM equivalence Succinct’s SP1 full EVM bytecode compatibility ensures developers can leverage existing Ethereum tooling and smart contracts without compromise.
- Cost efficiency Prover fees integrated into transaction costs eliminate additional financial burdens for rollup teams with minimal cost impact to users as low as fractions of one cent per transaction.
- Enabling a multi-chain future The advancement reaffirms Mantle Network’s alignment with Ethereum’s security ethos while laying the groundwork for cross-rollup interoperability at scale through ZK proofs.
Driving the future of ZK rollups
OP Succinct combines the power of Succinct’s SP1 zkVM with the modularity of the OP Stack, bridging the gap between user-friendly optimistic rollups and complex ZK technology.
The innovation promotes interoperability, flexibility and standardization that addresses Ethereum’s existing challenges.
By adopting ZK validity proofs, Mantle Network transactions are cryptographically verified to be correctly sequenced and settled.
This higher tier of security allows everyone to more easily and safely explore frontier areas that enhance the Ethereum experience such as supporting more advanced application logic, enabling cross-chain actions, improving latency and adopting multi-sequencer architectures.
Joshua Cheong, product lead at Mantle, said,
“In my previous banking career, I witnessed traditional banking infrastructure and legacy banking business models struggle to keep up with the emergence of FinTech disruptors built with cloud services that boast cost advantages.
“The introduction of programmable blockchains, along with stablecoins, heralds the next natural step in disruption of financial services being even more operationally efficient and resilient.
“The integration of Succinct’s SP1 marks a defining chapter in Mantle Network’s strategic blockchain journey to support banking for the next generation.
“By uniting [ZKPs] with the proven versatility of the OP Stack, we’re not just evolving as a layer-two solution we’re setting a new benchmark for institutional-grade Ethereum scalability that enables highly efficient and unparalleled security for high-value transactions at the cost of a few cents with 24/7 settlements.”
Uma Roy, CEO and co-founder at Succinct, added,
“Succinct’s SP1 empowers any developer to make ZK applications by just writing Rust, accelerating the adoption of ZK and verifiable computation.
“With OP Succinct, we can propel any OP Stack rollup into the future by providing fast finality with no downsides.
“By merging SP1’s blazing fast performance with Mantle’s progressive vision, we’re enabling developers to reimagine DApps (decentralized applications) with unprecedented speed, efficiency and reliability.
“Together, we’re building the foundation for Ethereum’s interconnected and scalable future.”
A unified Ethereum ecosystem
The synergy of fast finality, Ethereum-standard compatibility and cost efficiency promises a profound impact, reducing fragmentation and unlocking the potential for next-generation DApps.
The transition enhances Mantle Network’s commitment to Ethereum’s decentralized security model as an ETH-aligned layer-two, enabling a more cohesive ecosystem with seamless asset and information flows.
Mantle Network is now poised to be a future-ready layer-two chain as a native ZK rollup.
As the Ethereum landscape evolves, Mantle Network’s adoption of Succinct’s SP1 positions it as a leader in scalability and innovation.
Developers, users and ecosystem partners can look forward to a faster, more secure and interconnected Ethereum future.
About Succinct
Succinct brings ZKPs to any developer with SP1 the world’s fastest zkVM.
Succinct’s Decentralized Prover Network provides affordable and reliable proof generation infrastructure for rollups, bridges, coprocessors and other applications using ZKPs.
SP1 is used by the most renowned teams in the industry, including Celestia, Avail, Lido, Polygon, AggLayer and many more.
Website | X | Discord | Blog | Documentation
About Mantle
Mantle is building the largest sustainable hub for on-chain finance.
Through its core products Mantle Network, mETH Protocol and FBTC Mantle is unlocking the future of finance by blending institutional expertise with the transformative power of blockchain.
Anchored by the Mantle Treasury, the largest community-owned treasury in the ecosystem, Mantle ensures robust liquidity and financial stability.
With over $4.3 billion in assets, it actively funds core product development and fosters the growth of asset partners, such as Agora AUSD, Ethena USDe, Ondo USDY and EigenLayer restaking, enhancing sustainable yield, deep liquidity and financial utility on the Mantle Network.
Website | X | Devs X | Discord | Telegram | YouTube | Blog | GitHub
Contact
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
Follow Us on Twitter Facebook Telegram
Check out the Latest Industry Announcements
The post Mantle Network Advances Technical Roadmap As the First ZK Validity Rollup With Succinct’s SP1 appeared first on The Daily Hodl.
December 19, 2024 – Singapore, Singapore Succinct alliance establishes Mantle Network as highest TVL (total value locked) ZK (zero-knowledge) validity rollup. Mantle Network – an Ethereum layer-two known for its modular design and being the first adopter of EigenLayer’s EigenDA – today announced its architectural transition to a ZK validity rollup through an industry-first alliance
The post Mantle Network Advances Technical Roadmap As the First ZK Validity Rollup With Succinct’s SP1 appeared first on The Daily Hodl. Press Releases, sponsored
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.