Manta Network

BYqe...FixS

28 Jan 2024

Manta Network is a blockchain protocol that provides decentralized data security and anonymization solutions. It is designed as a protocol that can be integrated with different blockchain networks such as Ethereum and Polkadot.

Manta Network is a decentralized platform that enables secure storage and sharing of data. Provides data security using data masking and anonymization technologies. It offers high scalability and low transaction fees. It is used in areas such as financial data security, data analysis and decentralized applications. It serves the Polkadot ecosystem with Polkadot integration. In the future, data security technologies and integration studies with other blockchain projects will gain importance.

Investors

Binance Labs
Longhash Ventures
CMS Holdings
CoinFund
Continue Capital
Divergence
Free Company
Global Coin Ventures
Hypersphere
ParaFi
Polychain

Purpose of Manta Network

It aims to make data and asset transfers between blockchains fast, economical and secure. It acts as a bridge between different chains, allowing users to easily move their assets. With privacy technologies, users' transactions remain confidential and their data is protected. It offers fast and economical transaction solutions especially for users in the DeFi sector.

Features of Manta Network

Data Anonymization

Protects users' identities by anonymizing data. Users can carry out their transactions without revealing their identities.

High Transaction Speed

Performs transactions quickly. This ensures that users' transactions are quickly confirmed and completed.

Data Masking

Protects users' privacy by masking data. Data is encrypted with private keys and can only be accessed by authorized users.

Lower Transaction Fees

Offers lower transaction fees compared to Ethereum. This allows users to pay less fees when making transactions.

Decentralized Structure

It does not have a central structure. This ensures that users' transactions are not controlled by a central authority.

Flexibility Regarding Data Processing

Provides various data processing options. Users can process their data according to their needs.

Ease of Integration

Supports various blockchains and protocols. This allows projects running on different blockchains to be easily integrated.

What is Manta Network used for?

The data privacy and anonymization features, decentralized data security, high scalability and low transaction fees offered by Manta Network offer many different usage areas. Some Manta Network usage areas are:

DeFi

Manta Network offers a solution for the privacy and security of private data used in decentralized finance (DeFi) applications. Manta Network enables users to carry out their transactions quickly and cost-effectively, while preserving the confidentiality of their financial transactions.

Healthcare

Manta Network can be used to anonymise and protect the confidentiality of medical data. Healthcare providers can securely store and share patients' data.

E-Commerce

Manta Network protects the confidentiality of payment and personal data used in e-commerce transactions. In this way, users' data can be stored without being misused by third parties and transactions can be carried out quickly and cost-effectively.

Data Sharing

Manta Network enables secure sharing of private data. For example, a researcher can anonymize participants' data and use it for research.

Games

Manta Network allows players to securely store and transfer their in-game items and rewards. In this way, the security and confidentiality of the items used in the games are ensured.

Partnerships

Ecosystem Products

NPO

A launch platform that exclusively produces NFTs/SBTs and runs on zkAddress.

zkSBTs

The first private SBT to enable mass adoption of SBTs with privacy and ease of use features

MantaPay

Provides confidential on-chain transactions for fungible and non-fungible crypto assets.

AsMatch

The world's first astrology-based Web3 application.

Manta Wallet

The gateway to the Manta ecosystem for modular privacy.

Manta Network is a modular blockchain designed specifically for Zero-Knowledge applications.

This network includes Manta Pacific, an L2 ecosystem ideal for Ethereum Virtual Machine (EVM)-based ZK applications and dApps looking to deliver low-cost, user-friendly experiences.

By leveraging ZK-as-a-Service and Celestia's data availability, Manta Network provides an ideal environment for ZK-enabled applications.

It was mainly developed to enable users to make cryptocurrency transactions more privately. This platform consists of two main networks:

Manta Pasific

This network is used for Ethereum-based and advanced applications (dApps). Manta Pacific aims to solve problems with high transaction fees like in Ethereum, allowing users to make transactions at lower costs. In this way, developers and users can make more transactions by getting rid of the limitations in Ethereum.

Manta Atlantic

It runs on Polkadot and is one of the fastest Zero-Knowledge blockchains on the market. This network provides users with private identities and credentials on web3, making cryptocurrency transactions more secure and private.

Using these two networks, Manta Network offers both speed and privacy in cryptocurrency transactions. In particular, it aims to create a new privacy standard in the cryptocurrency world by enabling users to make their transactions more privately and securely.

What is MANTA Coin?

MANTA Coin is the native utility and governance token of the Manta Network ecosystem. $MANTA, with a total supply of 1 billion units, is designed to support network security, pay network usage fees and be used in various transactions within the ecosystem. $MANTA tokens are used through locking and unlocking in the Celer liquidity pool, which bridges Manta Network's two main networks, Manta Pacific and Manta Atlantic.

Manta Network experiences DDoS attack amid exchange listing

Zero-knowledge proof-powered layer-2 blockchain Manta Network experienced a widespread distributed denial-of-service (DDoS) attack amid a successful token listing on multiple exchanges. The incident has since been resolved.

As told by Kenny Li, co-founder of P0xeidon Labs, the cryptographic development team behind Manta Network, the blockchain’s nodes experienced over 135 million remote procedure call (RPC) requests on Jan. 18. “This is a very aggressive and timed attack,” said Li, while stating that “the blockchain is running safely” and “funds are safe.” However, Li warned that “communication between apps and the blockchain is severely limited” for the time being. The co-founder commented:

Rest assured, we are not going anywhere. We have built for three years, and we see no end in sight. Thank you so much for your support as a community.”

The same day, Manta tokens began trading on multiple exchanges, including Binance, Bithumb and KuCoin. At the time of publication, the Manta token is valued at $2.27, indicating a fully diluted market cap of $2.27 billion. Over $686 million worth of Manta exchanged hands in the first few hours of trading.

A spokesperson for Manta Network revealed that Manta Pacific has seen an 70x increase in total value locked (TVL) within the past quarter, with its current value at $858 million. An airdrop, amounting to 5% of Manta's total supply, valued at $114 million at the time of publication, was also announced earlier this month for ecosystem users and supporters.

On July 19, 2023, Cointelegraph reported that P0xeidon Labs raised $25 million in its Series A funding round. The firm also introduced the testnet of its layer-2 infrastructure, Manta Pacific, which entered mainnet on Sept. 12, 2023. The testnet launch in July 2023 saw the creation of 150,000 wallets and over 3.5 million transactions.

Meanwhile, Manta Atlantic’s flagship nonfungible token private offering platform launched in April 2023 and has since minted over 300,000 zero-knowledge soulbound tokens across key ecosystem partners, including Arbitrum, Galxe, Linea and CyberConnect.