With the improvement of blockchain technological innovation and cryptocurrencies, the have to have to safeguard consumer information and facts for digital transactions increases. Many Blockchain and DeFi tasks have applied Zero Knowledge Proof (ZKP) technological innovation to offer customers with extra privacy and safety through transactions, particularly the Manta Network undertaking. So what is Manta Network? Let’s find out Manta Network with Coinlive by the posting under!
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Manta Network undertaking overview
What is the Manta Network?
Manta Network is a Layer-one blockchain developed on the Substrate framework and supports the whole DeFi ecosystem of Polka dot. Manta Network employs the technological innovation zk-SNARK aims to offer total finish-to-finish anonymity with higher throughput and cross-chain interoperability. Some Manta Network capabilities coming in the potential:
- Decentralized Exchange – Decentralized Exchange.
- Private Payment Protocol – Private Payment Protocol.
- Loan protocol – Loan protocol.
- Synthetic resource protocol
Also, Manta presently has two tasks operating on two various chains but with the very same code base. Both tasks are in the testnet phase, i.e.:
- Manta Network operates on blockchain Polka dot
- Calamari Network: Acts as a separate layer one blockchain operating on the network Kusama
Highlights of the Manta Network
DeFi it is a sensible application of blockchain as it serves as an different to regular finance and gives all the gains of decentralized transactions. However, DeFi nevertheless has some down sides this kind of as safety, accessibility to new consumer files, and restricted scalability.
Manta Network was made to remedy these complications in a satisfactory way. Users are in total handle of their assets and information and facts this kind of as money, wallet addresses, and so forth., and make their very own choices with regards to the disclosure of their information and facts to other events. Furthermore, the undertaking will mint a privacy token pegged to the rates of other underlying tokens and stablecoins in a one:one ratio. These privacy tokens will be applied in Manta Network’s DeFi merchandise.
Current merchandise of Manta Network:
- Decentralized Anonymous Payment Protocol (DAP): This is a decentralized anonymous payment protocol that lets customers to exchange tokens on Polkadot for privacy tokens primarily based on zk-SNARKs technological innovation. Users will shell out with privacy tokens on Manta Network DeFi merchandise and can be redeemed for native tokens.
- Decentralized Anonymous Exchange (DAX) protocol.: Users can exchange privacy tokens with every single other anonymously on the Manta Network platform. The exchange’s privacy token pricing strategy will be comparable to regular AMMs.
Interoperability and mixture
Unlike decentralized exchanges (DEX) like Uniswap and Curve, Manta Network is compatible with Parachain tokens (such as stablecoins) whilst giving total privacy to customers with their assets. Thanks to cross-consensus messaging (XCM) which Manta Network is capable to talk with other Layer-1s in the Polkadot ecosystem.
Compare with public blockchains that also adopt the technological innovation Zero Knowledge Proof (ZKP) like Findora, Manta Network can supports various cross-chain sources in the Polkadot ecosystem. At the very same time, Manta Network also decreases the repetitive get the job done in evolving Polkadot consensus layer ecology.
Currently, Manta Network is the only anonymous DeFi solution compatible with all asset lessons, such as stablecoins and offer safety utilizing encryption rather of hardware.
Basic information and facts about the MANTA token
- Token Name: MANTA Token
- Tokens: MANTA
- Blockchains: Polka dot
- Token conventional: Updating
- To contract: Updating
- Using tokens: Administration, Services
- Total provide: one,000,000,000 MANTA
- Circulation arc: Updating
Allocation of tokens
- Mining: 38%
- Long-Term Development Fund: 18%
- Supporters: sixteen.five%
- Sale of strategic round tokens: four.five%
- Development crew: 10%
- Sale of Public Tokens: eight%
- Adviser: five%
What is the MANTA token applied for?
- Stakeout: Users can use MANTA to participate in staking and get rewards
- Burning: MANTA tokens will be burned dependent on the industry condition and this is the deflation mechanism of the undertaking
- Administration: Holders of MANTA will be capable to vote on essential troubles of the network
Where can traders trade MANTA tokens?
Currently, the undertaking There are no strategies nevertheless to checklist MANTA tokens and is staying examined on the Dolphin testnet. Investors must examine cautiously to stay away from trading fake MANTA tokens.
Present, Manta Network is launching the MantaShell out testnet on the Calamari network and at the very same time confirmed on Twitter that the undertaking will participate in the ZK occasion at ETH Denver. Manta Network is anticipated to launch the mainnet in the close to potential.
The Manta Network improvement crew is a assortment of professors and scholars with substantial working experience in the cryptocurrency industry. Prominent members of the undertaking crew contain:
- Shumo Chu (co-founder): What are you undertaking? Assistant Professor at UC Santa Barbara and programs researcher at Algorand. He has working experience operating with the world’s most effective cryptographic researchers who have won the Turing Award (laptop science association award).
- Kenny Li (co-founder and COO): He graduated with an MBA from MIT Sloan and has extra than ten many years of working experience expanding Startup businesses. He has recognized Bitcoin considering the fact that 2013 and has a great deal of working experience operating in various Blockchain tasks.
- Victor Ji (co-founder): He holds a master’s degree in economics from Harvard and is president of the Harvard Kennedy School’s Blockchain and Cryptocurrency Club.
The undertaking is observed when there are two trustworthy investment money, viz Binance Lab and Capital Polychain. There are also other well-known investment money this kind of as ParaFi, Coinfund, and so forth.
Prominent partners of Manta Network contain Acala, ChainX, Parallel, and so forth.
Reviews of Manta NetworkManta Network is a extremely ambitious and prospective undertaking on Polkadot as it supplies privacy, interoperability and quickly transactions for customers. However, the undertaking is nevertheless in the testnet stage and we have to wait for Manta Network to truly repair the troubles when it comes to the mainnet launch.
Mine Protocol: A 1st cryptocurrency protocol that generates super quick blocks and is regarded the lightest blockchain in the globe. The undertaking solves the blockchain scalability dilemma by improving the unique supply code of blockchains this kind of as Bitcoin and Ethereum with a recursive protocol. zk-SNARK.
Aleo: A blockchain platform that leverages decentralized programs and technologies Zero Knowledge Proof (ZKP) to offer customers with absolute privacy through transactions.
Through this posting, you should have by some means grasped the simple information and facts about the Manta Network undertaking to make your investment choices. Coinlive is not accountable for any of your investment choices. I want you achievement and earn a great deal from this prospective industry.