Wigwam is the best Mantle blockchain crypto wallet

Mantle network review

Mantle is a layer-2 scaling solution built on the Ethereum network. The blockchain uses optimistic rollup solutions to process transactions faster and at a lower cost while leveraging Ethereum's security. Additionally, Mantle is compatible with Ethereum Virtual Machines (EVM), meaning that decentralized applications (dApps) on the Ethereum network will operate well on Mantle with minimal modifications.

History

Mantle is a product of BitDAO (Decentralized Autonomous Organization) launched by the centralized exchange, ByBit, to support crypto builders. Mantle Network uses two types of tokens in its operations. The first is the $MNT token, which acts as a utility token on the Mantle Network. It is used to pay gas fees for transactions on the network and can also serve as collateral for network nodes. The second token is the $BIT token, BitDAO's governance token. This token also functions as a gas token on the Mantle Network.

The Mantle Network Testnet was launched on January 10, 2023. After a six-month testnet period, the network launched the mainnet on July 17.  During the testnet period, over 80 dApps and more than 140K smart contracts were deployed on the testnet. Mantle said the network engaged 48K developers and connected over 690K unique wallet addresses. In addition, the network processed over 14 million on-chain transactions and maintained a monthly active wallet address count of more than 157K.

Mantle network merged with the BitDao ecosystem in May 2023, creating a unified ecosystem under one brand and token, Mantle (MNT).

What crypto wallet should I use with the Mantle blockchain?

Mantle network is an EVM-based blockchain so you can use different popular crypto wallets to interact with it. Some of the web3 wallets are:

1. Wigwam cryptocurrency wallet
2. Metamask
3. TrustWallet
4. Exodus Extension

A short Mantle tech review

At the heart of Mantle Network is a modular architecture combining an optimistic roll-up protocol with a unique data availability solution. This allows Mantle Network to inherit the security features of Ethereum while offering cheaper and more accessible data availability. 

The network's modular architecture separates transaction execution, consensus, settlement, and storage processes. 

The initial Mainnet version is a Smart Contract Rollup with modular data availability. Mantle's execution layer offers an EVM-compatible environment for transaction execution, with sequencer-producing blocks on Layer-2 and sending state root data to Layer-1. Consensus and settlement occur on Layer-1 Ethereum, while data availability services are provided through Mantle DA powered by EigenDA technology.

The centralized sequencer on the Mantle Network produces Layer-2 blocks and publishes updated state roots to Layer-1. An additional sequencer module (TSS) consists of whitelisted node operators who sign blocks and contribute to multi-party signatures. This process improves the accuracy of off-chain transaction execution results.

Mantle Network also utilizes Fraud Proofs and Optimistic Rollups that execute transactions resulting in state transitions. Updated state data are published to Layer-1 Ethereum, and network actors can challenge its validity within a 7-day challenge period. If unchallenged, the state data is considered valid and final.

Mantle Network advantages

Mantle Network has been instrumental in addressing several challenges that the Ethereum blockchain network faces and trying to overcome them by using the following methods:

1. Scalability Challenge: The Ethereum network faces issues with scalability, which can lead to congestion and high gas fees. Mantle Network addresses this challenge using an optimistic rollup protocol, a technology that allows executing transactions off-chain while ensuring security on-chain. This approach enhances the scalability of the Ethereum network, allowing it to handle more transactions per second.
2. Cost Challenge: High transaction costs on the Ethereum network can deter users from participating in blockchain activities. Mantle Network's advanced data availability solution helps reduce these costs, making transactions more affordable, even in comparison to the Ethereum PoS version.
3. Innovation in Modular Architecture: Mantle Network has a modular architecture that combines the optimistic rollup protocol with an innovative data availability solution. This flexible design allows for easy integration of new technologies and improvements.
4. Fraud Proof Mechanism: Any actor in the Mantle Network can challenge the result with a fraud-proof. This mechanism ensures the integrity of transactions and discourages malicious activities.

Mantle introduces a unique feature of optimistic rollups leveraging EigenDA's high speed, low transaction costs, and Ethereum's security. With support from ByBit, BitDAO, and its partners, Mantle will likely quickly move up the optimistic rollup space despite their late entry.