What is Manta Network and why is it considered by many to be a fundamental GEM project in the field of our security?
First: Manta Network is a set of easy-to-use and secure protocols based on Substrate frameworks. It uses ZKP (zero-knowledge-proof) to provide complete end-to-end anonymity, high bandwidth, and high interoperability between parachains within the Kusama ecosystem.
Second: As part of its own suite of products, MantaNetwork offers private payments MantaPay and the private decentralized exchange MantaSwap. This product is being actively tested and is already running at full capacity.
The core logic of Manta Network is to mint private coins/tokens with stablecoins and other base tokens under contract at a minting cost ratio of 1:1. In addition, a decentralized private swap platform can support the exchange of these privacy tokens.
Currently, Manta Network is the only decentralized private payment system and exchange based entirely on cryptographic assumptions. Unlike existing decentralized exchanges such as Uniswap and Curve, Manta is compatible with Parachain tokens and provides complete privacy.
Among the current DeFi products, Manta Network is the only decentralized trading platform that uses zk-SNARK to enhance privacy. zk-SNARK can already be used to support complete end-to-end anonymity - the sender can verify the legitimacy of a transaction without disclosing the transaction amount, address, or other details. Manta completely preserves the anonymity of users and transactions. The agreement is open source and subject to verification, which can also reduce the cost of trust and keep the system secure. Please refer to the following table for technical comparison (bold means better):
Currently, Manta is the only private DeFi product that is compatible with major assets, including stablecoins, and provides security using cryptography rather than hardware.
Conclusion:
Due to technical difficulties, no decentralized exchange platform protects user privacy from end to end in the current Kusama ecosystem, even in the entire world of cryptocurrencies. Manta perfectly fills this gap. Since Manta covers both decentralized private payments and decentralized private transactions of Kusama network assets, it is indispensable for users who need privacy protection, especially for institutional users. Thus, Manta can become a leader in the ecosystem and in the entire cryptocurrency market in terms of a privacy-protected decentralized platform.
