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Manta Network and the blockchain privacy revolution

Jan 19, 2024
Manta Network and the blockchain privacy revolution
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The Manta Network consists of a set of protocols that are easy to apply and provide a high level of security, based on the Substrate framework. Essentially, the Manta Network is a protocol focused on providing confidentiality.

Contents:

Manta Network and the revolution of confidentiality in blockchain - news

Description of the Manta Network Project

Firstly, the Manta Network represents a complex of convenient and secure protocols built on the basis of Substrate frameworks. This project uses ZKP (Zero-Knowledge Proof) technology to ensure absolute anonymity, high throughput, and efficient interaction between parachains within the Polkadot ecosystem.

Secondly, within its product portfolio, the Manta Network offers confidential payment solutions — MantaPay, and a private decentralized exchange — MantaSwap. These products are in the stage of active testing and are already functioning at full capacity.

The Manta Network is preparing for significant progress. The main concept of the Manta Network is to create private coins/tokens using stablecoins and other basic tokens on a 1:1 contract basis.

Manta Tokenomics

  • Token name: Manta Network
  • Symbol: MANTA
  • Blockchain: Polkadot
  • Total supply: 1,000,000,000 MANTA

In addition, the private decentralized exchange platform supports trading of these confidentiality tokens.

Currently, the Manta Network is a unique decentralized system for private payments and exchange, fully based on cryptographic principles.

Confidentiality in the DeFi Project 

Among existing DeFi products, the Manta Network stands out as the only decentralized trading platform using zk-SNARK to increase the level of confidentiality. zk-SNARK allows for complete anonymity of transactions — the sender can verify the legitimacy of the transaction without revealing the amount, address, or other details. The protocol is open source and undergoes independent verification, contributing to reduced risks and increased security.

Unlike other decentralized exchanges such as Uniswap and Curve, Manta is compatible with Parachain tokens and ensures complete confidentiality.

The Manta Network provides a wide range of services based on confidentiality technology. Among these advantages of the Manta Network is anonymous exchange of crypto assets using an automated market maker (AMM). 

How the Manta Network (MANTA) Works

Manta Pacific: A Scalable EVM-Native Second-Layer Solution

Manta Pacific is an innovative second-layer blockchain based on Ethereum, designed for EVM-compatible ZK applications. By providing the necessary space for such applications, Manta Pacific ensures scalability and economic efficiency. Emphasis here is on the security of user data, making ZK applications a key element in the world of decentralized applications. Unlike standard approaches, Manta Pacific simplifies the development and deployment of ZK applications on Solidity, providing the necessary tools.

Key Features:

● ZK Programming as an EVM-Native Level 2

Manta Pacific offers a solution for confidential programming within the EVM-native level 2 framework, allowing developers to utilize ZK technology in the familiar Ethereum environment.

● Unified Schemes for Easier Development

The unified schemes of Manta Pacific simplify the creation of ZK applications on Solidity, freeing developers from the need to learn new programming languages. This contributes to a more accessible developer community.

● Using Celestia for Data Availability

Combining Celestia for data availability and zkEVM for scalability allows Manta Pacific to achieve high scalability while reducing transaction costs. Celestia's modular system, based on Reed-Solomon coding and NMTs, significantly reduces costs for users.

● Developer-Friendly ZK Library

Universal Circuits 2.0 includes a ZK library that facilitates the integration of ZK-supported contracts into existing Solidity smart contracts and dApps. This extends the application possibilities of Manta Pacific functionality in various networks and Web2 environments.

Manta Atlantic: The Most Advanced ZK First-Level Network

Complementing Manta Pacific, Manta Atlantic stands out as the fastest and most decentralized ZK first-level network, designed to support modular on-chain compliance identifiers. Unlike other ZK identification systems focused on smart contract languages, Manta Atlantic focuses on the level of accounts that meet ZK standards. This approach promotes effective implementation and interaction, allowing the use of compatible identifiers without complex cryptography.

Key Features:

● The zkAddress System

Manta Atlantic introduces the innovative zkAddress system, combining public accounts and private UTXO-based addresses. This system, known as zkAddress, protects data related to SBT minting, on-chain and off-chain identification data. It is the first private addressing system that provides reusability, independence, and verifiability.

● The Prove Key Feature for Selective Data Sharing

In Manta Atlantic, the Prove Key feature is implemented, allowing users to selectively share certain zkAddress data without disclosing their entire ZK identification information, thus ensuring a confidential compliance process.

Features and Products of the Manta Network

Among all the mentioned advantages, the following key features of the Manta Network are noteworthy:

Feature Description
Scalability and Economical Transactions Manta Pacific, applying Celestia and OP Stack technologies, achieves high scalability and reduces transaction costs, creating ideal conditions for the development and launch of applications based on Zero-Knowledge Proof technology.
Extended Use of Zero-Knowledge Proof (ZK) Technology Manta Pacific in conjunction with Universal Circuits offers developers a ZK library, which promotes improved support in application development.
Developer Orientation Projects can implement Manta's confidentiality tools in various blockchain platforms, including web and mobile applications. SDKs and attestation keys simplify blockchain identification integration.
Confidentiality in KYC Processes Using zkSBT from Manta Network, users can confirm their identity in a decentralized and trustless form, meeting KYC requirements in the blockchain without disclosing personal data.

It is worth mentioning two main services of the Manta Network — MantaPay and MantaSwap.

MantaPay provides confidential transactions in the network using any parachain assets. Users can send wrapped BTC, ETH, DOT, and other major crypto assets, as well as parachain assets to any wallet address in the Manta Network, while maintaining confidentiality.

MantaSwap — is a decentralized exchange focusing on speed and confidentiality. Users can use MantaSwap to trade various major crypto assets and parachain assets within the Manta Network, ensuring wallet address anonymity.

Project partners include Phala Network, Equilibrium, and others.

Main project investors — Polychain Capital, Alameda Research, Origin Capital, and others.

As can be seen, the project has significant partners and investors, testifying to its reliability and trust from professionals in the field.

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