BitDAO Launches Ethereum L2 Solution, Testnet to Go Live in 2023

Summary:
• BitDAO’s Layer 2 solution, Mantle has launched and it promises low fees, high throughput among other benefits.

BitDAO, one of the largest DAOs in the world, has announced the soft launch of its L2 solution platform, Mantle. This is the first modular Ethereum layer-2 solution with different execution, finality, and data availability layers, boasting both high performance and maximum security. The Ethereum community has responded to the challenges with layer-1 blockchain solutions by developing layer-2 solutions. These platforms can accommodate a much larger number of users without forcing them to pay the high gas prices that have driven many away.

What does BitDAO hope to achieve with Mantle?

Because of its modular architecture and the security and decentralization provided by the Ethereum blockchain, Mantle is the first L2 solution of its kind. Those who have worked with Ethereum’s EVM will find this a comfortable technology stack to work with, as it employs the same development tools as Ethereum.

Being BitDAO-owned and -accelerated, the Mantle network enjoys the support of the whole BitDAO ecosystem. Mantle will also utilise BIT, the governance token of BitDAO, as the network’s native gas token. Moreover, it has the potential to be the first network to implement EIP-3074, which makes contract functionality and meta-transactions available to accounts managed by third parties like MetaMask.

BitDAO’s goal is to promote web3 ecosystems of people, products, services, and public goods, and Mantle’s introduction exemplifies this goal. The platform’s goal is to address the problems with L2 solutions as they stand now and make possible a web3 ecosystem that is ready for the future and can support a wide variety of projects and use cases. In 2023, a full incentive program will launch with the public testnet.

BitDAO claims that Mantle employs a distributed data availability layer such as EigenDA, which is optimized for Optimistic and ZK rollups. Because of its high throughput and cheap costs, Mantle is a great choice for early adopters. Therefore, they will likely find it much easier to build on than on other L2s.

“When modules of chain functions are unbundled and free to mix-and-match, permissionless innovation will give rise to use cases that have not even been imagined yet,” said Sreeram Kannan, founder of EigenLayer.