Manta Network (MANTA): How does it work and using it?

Have you heard of the Manta Network (MANTA)? This is a promising project that focuses on protecting privacy in blockchain transactions.

So how does the Manta Network work and what role does the MANTA token play? Let’s join AZcoin to learn more about this project in the article below.

What is Manta Network?

Manta Network is a blockchain platform focused on providing security and privacy solutions for decentralized financial transactions (DeFi). Using zk-SNARKs technology and built on the platform Polkadot, the platform ensures privacy for transactions and activities on its network.

The goal of Manta Network is to provide a secure, secure and user-friendly DeFi ecosystem that helps protect participants’ identities and personal data.

Development team, investors and partners

Development Team

The development team of Manta Network consists of many professors and academics with extensive experience in the cryptocurrency market. Notable members of the team include:

• Shumo Chu (Co-Founder): Currently an assistant professor at UC Santa Barbara and systems researcher at Algorand. He has worked with leading cryptocurrency researchers, including former recipients of the Turing Award (the highest award of the association for computer science).
• Kenny Li (Co-Founder & COO): He graduated from MBA at MIT Sloan and has over 10 years of experience in scaling startups. He has known about Bitcoin since 2013 and has extensive experience working on various blockchain projects.
• Victor Ji (Co-Founder): He has a master s degree in economics from Harvard and is president of the Blockchain and Cryptocurrency Club of Harvard Kennedy School.

The investors

Manta Network has raised a total of $60 million through various funding rounds. These have attracted the participation of leading investment funds such as Binance Labs, Polychain Capital, ParaFi, and Spartan, among others.

Partner

Manta Network has collaborated with many projects and organizations in the blockchain and crypto industry, including Acala, ChainX, Parallel, etc. These partners help Manta Network expand its capabilities and enhance the security of the ecosystem.

How does Manta Network work?

Manta Network works with two layers, each optimized to meet the needs of Web3. Specifically:

Manta Pacific:

• Focus on the original ZK applications of EVM.
• Highlights Universal Circuits, which makes developing ZK applications with Solidity easy.
• Provides modular structure to ensure scalability and maintain low gas charges.
• Developer-centric, providing SDKs and proof keys for on-chain identity integration in Dapps.

Manta Atlantic:

• Focus on ZK-compliant credentials.
• Introducing zkSBT (Zero-Knowledge Simple Barter Tokens) to create a private, reusable and verifiable address system, called zkAddresses.
• Outstanding for its interoperability, it allows seamless connection with other projects without the need for complex coding processes.
• Supports many different applications, including zkNFT, staking and ecosystem projects.

Through these two layers, Manta Network integrates advanced encryption solutions with developer-friendly tools that enhance the security, scalability, and accessibility of blockchain technology in the Web3 world.

Features of Manta Network

Features of Manta Network:

• High Scalability, Low Transaction Fees: Manta Pacific adopts Celestia and OP Stack solutions, providing superior scalability and low gas fees. The Universal Circuits feature helps Manta Pacific create the optimal environment for building and deploying ZK applications.
• Developer-friendly: Manta’s multi-modular approach provides flexibility for developers in leveraging privacy identification tools across a variety of blockchains and in web2 environments, including mobile apps.
• Creating new uses for ZK technology: Manta Pacific offers Universal Circuits, a ZK library that supports developers calling their existing smart contracts and Solidity dApps.
• Support KYC without revealing personal information: ZkSBT by Manta Network allows users to verify in a decentralized and trustless manner, without revealing any personal information. The tool offers an on-chain KYC feature without requiring passport scanning or entering sensitive information.

Basic information about MANTA token

MANTA token key metrics

• Token Name: MANTA
• Ticker: $MANTA
• Blockchain: ERC-20, Native Manta Pacific
• Token Standard: ERC-20
• Contract: Updating…
• Token type: Utility, Governance, Staking, Liquidily,…
• Total Supply: 1,000,000,000 MANTA
• Circulating Supply: 250,000,000 MANTA

Allocation of MANTA tokens

• Ecosystem/Community: 21.19%
• Foundation Treasury: 13.5%
• Private Investor: 19.94%
• Team: 10%
• Advisor: 8.1%
• Public Investor: 8%
• New Paradigm (Airdrop 2): 6.5%
• Strategic Investor: 6.17%
• Airdrop: 5.6%.
• Institution Investor: 5%
• Binance Launchpool: 3%

What is the MANTA token used for?

MANTA token holders can enjoy the following benefits:

• Staking : Users can use MANTA to participate in staking, thereby receiving rewards from the project.
• Burning : MANTA tokens can be burned depending on the market situation, which helps deflate and maintain the value of the token.
• Governance : MANTA holders have the right to participate in the voting process to decide important issues related to the network.

Where to buy and sell MANTA tokens?

You can trade MANTA tokens on some of the best cryptocurrency exchanges, such as Binance, KuCoin and Gate.io. To make a trade, make sure you have created an account and performed the necessary verification on these platforms.

In which wallet do you store MANTA tokens?

In addition to MX Token , you can store MANTA tokens in cryptocurrency wallets that support the ERC-20 standard, such as MetaMask, Trust Wallet and Ledger Nano X. These wallets provide high security and ease of managing your assets.

Conclusion

Through this article, AZcoin has introduced you to Manta Network – a leading personal information security solution in the cryptocurrency world. With zero-knowledge proof technology, it helps you make transactions in a completely anonymous and secure way. Let’s explore more projects with AZcoin that bring privacy to users in the future!