On Friday, P0xeidon Labs, Manta Network’s development team, announced the launch of a new & reliable crypto-powered system that will be used to launch its private payments app.
Users on MantaPay will be able to send crypto privately across networks based on Polkadot and Kusama using the zkSNARK technology. Kusama is the stepping stone for all projects, acting as a live testnet for all things Polkadot.
According to Manta Network’s spokesperson, the launch ceremony will have close to 5,000 attendees from as many as 133 countries. The event will carry on for two weeks, making it one of the biggest and most distributed noteworthy setups in Web3’s history.
Kenny Li, co-founder, and COO at Manta Network stated:
“We’re witnessing an overwhelming amount of interest in participating in our trusted setup—about 5,000 registrations so far. I think it indicates just how critical privacy is for Web3, and the ecosystem is recognizing that.”
Utilizing Polkadot’s Nominated Proof of Stake (NPoS) consensus architecture, the team at Manta Network is developing a layer-1 blockchain solution to let users perform transactions across any asset chain with complete anonymity.
The key factor enabling the project to break the current record of the most trustworthy installations is due to the minimal criterion set for participation by the Manta Network team.
“The criteria is very low, we have no hardware requirements because with ZKP, it is hardware agnostic. We support major operating systems including Ubuntu Linux, Apple, and Windows OS.”
Privacy Remains The Core Ethos
User privacy is the core backbone of Manta & this has led to many individuals partaking in Manta’s new product which aims at complete anonymity during exchanges between any two or more parties.
Li also stated:
“Privacy isn’t just about keeping transactions secret; rather, it’s about your entire on-chain identity: every application you interact with, every wallet you interact with, any piece of data that you record on the blockchain is permanent and publicly available”
As per Manta Network’s COO, there will be no financial incentives or rewards for the trusted setup ceremony participants, but each of them will be receiving a non-fungible token (NFT) that will act as proof of their valuable contribution to the project & rewarded a Discord title in Manta’s community channel.