🚀 Crypto Mantle Network Becomes The First ZK Validity Rollup With Succinct’s SP1

[Undefeated_Lamba]

Mantle Network, an Ethereum L2 network built with a modular architecture, is elated to announce its architectural transition to a zero-knowledge validity rollup.

According to the announcement, the transition was done with the help of Succinct, which was created to bring ZK proofs to any developers with SP1. With its modular architecture and data availability solutions via EigenDA, this transition puts Mante Network in a strategic position. Mantle Network will now be able to create the liquidity chain for institutional-grade settlement and value transfer within the crypto ecosystem.

The integration comes at the opportune time when the network is preparing for its Testnet launch set for Q1 2025 aimed at upgrading the mainnet. Mantle Network cuts down chain finality from seven days to one hour by evolving from an optimistic rollup model to a ZK validity rollup. This reportedly enables fast institutional-grade asset settlements, offering support and increased capacity efficiency for traditional and blockchain finance.

Integrating ZK validity rollup technology will provide Mantle Network with the next-gen technical infrastructure to support and amplify the secure growth of high-value asset settlements. Mantle seeks to accelerate the seamless, secure, and efficient movement of institution capital across both traditional and decentralized markets.

Commenting on the development, Joshua Cheong, Product Lead at Mantle, stated:

“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 and stablecoins heralds the next natural step in disrupting financial services – being even more operationally efficient and resilient. Integrating Succinct’s SP1 marks a defining chapter in Mantle Network’s strategic blockchain journey to support banking for the next generation. By uniting zero-knowledge proofs with the proven versatility of the OP Stack, we’re not just evolving as a Layer-2 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.”

By adopting ZK validity proofs, Mantle Network transactions are cryptographically verified to be correctly sequenced and settled. Notably, integration of Succinct’s SP1 now offers Mantle Network a variety of advanced features, including fast finality, EVM equivalence, cost efficiency, and enabling a multi-chain future. Mantle’s flagship assets, namely, $mETH, $cmETH, and $FBTC, also stand to gain performance benefits,

Following its mainnet launch on 7th July 2023, Mantle Network has seen tremendous growth in its ecosystem. Currently, Mantle ranks as one of the top 5 L2 by total value locked (TVL) with a total value of $2.2 billion. The network has also processed 175 million on-chain transactions with over 4.9 million monthly active wallet addresses. Mantle has also seen over 1.4 million smart contracts deployed and 10 million unique wallet addresses connected to its network. This integration will no doubt allow Mantle to take its place in the industry.

For more information, visit the Mantle Network website.