Manta Network seeks to bring privacy to non-fungible crypto assets with new NPO platform

Zk furniture 1 blockchain Manta Network announced on March 20 that it has added enactment for assets including Non-Fungible Tokens (NFTs) and Soul Bound Token (SBTs) to its protocol. The MantaPay protocol, which initially supported lone fungible crypto assets, promises to present let for privacy-preservation enactment for NFTs and SBTs done the usage of Manta Network’s ZK technology. ZK exertion is simply a privacy-focused exertion that uses Zero-Knowledge proofs (ZK proofs) to alteration afloat backstage transactions connected decentralized concern (DeFi) platforms. 

The institution said that its NFT Private Offering (NPO) level is simply a launchpad for NFTs and SBTs that seeks to alteration users to privately motorboat zkNFTs/zkSBTs without requiring method oregon cryptographic expertise. Through the usage of zero-knowledge proofs (ZKPs), users are meant to securely and privately mint NFTs and SBTs portion protecting the privateness of their crypto assets. This level committedness to guarantee that lone the validity of the transaction is revealed, without disclosing immoderate further information. 

Soulbound tokens (SBTs) are integer individuality tokens representing a idiosyncratic oregon entity’s characteristics, features, traits, and achievements. Manta Network’s zkSBT (Zero-Knowledge Soulbond Token) promises to usage ZKPs to supply information and privateness features compared to accepted SBTs. zkSBTs are designed to supply a chain-agnostic experience. Thereby, allowing users to motorboat tokens connected assorted chains including Ethereum, BNB Chain, Polygon, and more, portion maintaining privateness credentials done zkSBTs connected Manta Network’s chain, which tin beryllium verified done Proof Keys without disclosing immoderate wallet details.

The Manta Network's enactment for NFTs and SBTs is poised to beryllium a important advancement for the network, arsenic it broadens the scope of decentralized plus classes that it tin handle. With the inclusion of zkNFT/zkSBT capabilities, developers nary longer request specialized cognition of cryptography oregon ZKP to make web2 oregon web3 applications. This functionality hopes to let for the swift instauration of mobile applications and DApps, opening up breathtaking caller opportunities for developers to plan projects centered astir NPO, zkNFTs, and zkSBTs.

Related: Manta Network conducts record-breaking trusted setup ceremony, 4,000+ contribute

In 2021, Manta Network raised $5.5-million successful a backing circular which saw information from much than 30 task funds, including crypto hedge money CoinFund and alternate concern steadfast ParaFi Capital.

On Jan 10, Manta Network conducted a grounds breaking trusted set-up ceremonial with implicit 4,000 radical participating. The setup was done successful bid to assistance make MantaPay, an app that intends to let for backstage payments betwixt individuals. According to the company, MantaPay volition tally connected the Polkadot parachain Manta Network and connected the Kusama parachain Calamari. It volition usage zero-knowledge proofs to guarantee that lone the sender and recipient of each outgo volition beryllium capable to presumption the payment.