As a seasoned researcher with years of experience in the crypto world, I can confidently say that Manta Pacific’s adoption of the MultiDA strategy is a game-changer. With my extensive background in blockchain technology and understanding of data availability’s crucial role in network integrity, it’s clear that this move is a significant step forward for the Manta Network.
As an analyst, I’m excited to share that I’ve been working with Manta Pacific, a groundbreaking modular blockchain within the Manta Network. This innovative platform has recently unveiled a Multiple Data Availability Framework, designed to bolster the dependability of our blockchain ecosystem.
In a press statement shared with crypto.news on August 13th, Manta Network disclosed their decision to incorporate the MultiDA approach. This move brings several other Decentralized Autonomous (DA) protocols into their flexible system, such as Celestia (TIA).
In the realm of blockchain and cryptocurrencies, it’s essential that data can be accessed and verified consistently to uphold the network’s overall reliability. One well-regarded provider for such services is Celestia DA, which is widely used in the industry.
According to the announcement, the MultiDA strategy enables Manta Pacific to minimize transaction fees and boost user interaction, as outlined in the protocol. Other data management solutions currently supporting Manta Pacific’s modular system include EigenDA, OG, Nubit, NEAR (NEAR)’s Nuffle Labs, and Dill.
Expanded security
Manta Network chose to share L2 block information with various Decentralized Data (DA) providers after completing its first collaboration with Celestia in December 2023. This novel approach disseminates block data across seven significant DA networks concurrently, thereby improving the platform’s security.
According to Manta Network’s co-founder and key contributor, Kenny Li, by focusing on the network’s security, durability, and availability, we are essentially building a stronger and more dependable blockchain environment. This improvement will give users increased confidence and convenience, thereby speeding up the widespread adoption of decentralized technologies.
For the last seven months, Manta has utilized various data networks to reduce costs by approximately $5 million in over 27 million user transactions. Currently, it boasts 279 active projects and has teamed up with Mountain Protocol, providing additional earning possibilities.
Additionally, the Manta Foundation introduced a $50 million investment fund dedicated to nurturing the growth of emerging initiatives within their ecosystem.
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2024-08-13 17:56