Since the Modular Summit in Paris in late July last year, research and discussion on modular projects have never stopped. Many people believe that it will be the next hot track, but it is worth noting that modular narratives are diverse and more complex in design, which will be a huge challenge for the technology and security of the network. At the same time, the already diverse second-layer solutions have diverged again, which means that the funds of platform investors are once again placed in more baskets.
With Celestia (TIA) launching a 10-fold increase after listing on Binance, the discussion on the concept of modular blockchain has become increasingly heated, and a large number of modular projects have frequently appeared in the eyes of investors again, such as Manta Network, Fuel, Eclipse, Caldera, dYmension, Omni Network, etc.
Among them, Manta Network performed well. Not only did Manta Pacific TVL rise to more than $1.6 billion, but its project token MANTA also rose to more than $3 despite the market crash. In addition, in January this year alone, Manta Network received investment from two institutions, Newman Capital and ArkStream Capital.
Manta Network is a multi-module ecosystem for zero-knowledge applications, bringing programmable privacy to Web3 through compliant on-chain privacy and identity. It uses zk-SNARK to provide complete end-to-end anonymity, high throughput, and cross-chain operation capabilities (supporting mainstream cryptocurrencies and stablecoins on Polkadot and its parachains). Manta's products mainly include a decentralized privacy payment protocol, a decentralized privacy token exchange protocol, and a decentralized privacy lending and synthetic asset protocol to be developed in the future.
Manta's modular design includes two aspects:
Manta Pacific uses mature technology stacks such as OP Stack and Polygon CDK to implement its modular architecture.
Unlike other layer 2 solutions, Manta Pacific did not build its infrastructure from scratch, but used the existing mature OP Stack technology stack.
If Manta is a newly established smartphone brand, then using OP Stack is like directly using the supply chain and technology architecture of the iPhone.
The benefit of this approach is that Optimism is a project that has been tested in the bear market, and its technology stack OP Stack has also been tested in the market for a long time and is very mature.Manta Pacific can stand directly on the shoulders of giants, and largely inherits the existing security and technical advantages of OP Stack.
In addition, it achieves full EVM compatibility, allowing developers to easily migrate existing DApps to Manta Pacific. More importantly, Manta can focus more on ecological construction and project expansion. As of now, Manta Pacific has verified more than 810 smart contracts on its chain and has more than 200 ecological projects.
Manta Pacific uses Celestia as its data availability layer, which means that its data availability security is partially guaranteed by the Ethereum mainnet and Celestia. If the serialization node publishes real data, the corresponding data can be found on the Ethereum mainnet and Celestia.
Manta Pacific's sorter specifies the block height to which the blob is published on Ethereum. If the blob does not exist at that height, the transaction is invalid.
Sorter publishes data: Publish the transaction to the inbox, which is encoded in three parts: version number (0x02), block height (0xa4aa05000000000000), and blob commitment (the rest). By specifying the height, the node knows where to look.
For example, 0xa4aa050000000000 is the little-endian encoding of the block height, which translates to block 371364. You can find the same block at https://celenium.io/block/371364.
This block contains a block in the Manta Pacific namespace. If the sorter publishes forged data, the node will not be able to find the commitment at the specified block height.
Manta's own ZK circuit adopts a modular design, and the ZK function is built into Manta Pacific. Developers can fully call and implement ZK functions and features in Manta Pacific, which is different from other ZK Rollups or zkEVM. Developers can also easily call ZK circuits to combine ZK functions with applications.
In ZK Rollup interactions, users conduct transactions inside ZK Rollup, and the Rollup sorter acts as a prover to sort, compress, and package user transactions to generate ZK proofs. The Ethereum mainnet smart contract acts as a verifier to verify the correctness of the ZK proof, thereby verifying the correctness of the transaction it represents.
The mainnet smart contract does not need to perform complex verification of ZK Rollup transactions. A ZK proof can represent the correctness of more transaction information, achieving scalability and improving the transaction confirmation capability of the Ethereum mainnet.
In contrast, Manta Pacific users act as provers and generate ZK proofs locally when submitting transactions. On-chain collectors act as validators and verify ZK proofs. The verified transactions are then compressed by the sorter and submitted to the Ethereum mainnet. In Layer 2, Manta Pacific completes ZK generation and verification, fully realizing ZK functionality.
Because of the above advantages, #MantaRWA生态 's token $MANTA has shown strong momentum recently, which deserves close attention from investors.
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In fact, with the prosperity and growth of DeFi, Ethereum has completed the merger and upgrade, and the privacy protection and privacy computing of smart contracts and off-chain data have become new rigid needs. More and more head VCs and developers are still entering the market, and the competition in the privacy track is becoming increasingly fierce. Zero-knowledge proof has become a popular school in recent years. As Polkadot's first on-chain privacy protection protocol based on zero-knowledge proof, it has been supported by top investment institutions such as Polychain, ParaFi, and Binance Labs. After nearly two years of development, it has become a strong player in the privacy track. It is no surprise that the industry needs Manta Network.
From a technical perspective, Manta has a very strong cryptography team in the industry. Our zero-knowledge proof protocol is inspired by Zcash, but at the same time it is much more powerful than Zcash. There are basically three points: first, ZCash is a single-asset privacy protocol, and Manta is a multi-asset privacy protocol; second, Manta supports more asset types than Zcash. The latter only supports Fungible tokens at the beginning, while we support both Fungible tokens and NFT (non-fungible token); third, the implementation of Manta privacy protocol is much more efficient than ZCash. For example, Manta generates zero-knowledge proofs 10 times faster than ZCash. In addition, based on the entire Polkadot ecosystem, we make good use of Polkadot's cross-chain protocol XCM to open up the privacy layer of the entire Polkadot asset.
Manta Network introduces a novel and groundbreaking governance model solution that balances democracy and efficiency through a five-layer system of checks and balances. Manta Network is the fastest growing Ethereum L2, and its modular approach to architectural design enables it to make full use of emerging technologies and continue to provide users with the value of changing needs now and in the future.
To maintain a successful development process while achieving decentralization, Manta Network's governance model promises to balance fairness, democracy, innovation, and contribution, auditing, and growth as a co-prosperous ecosystem.
Manta Governance 2.0: Five Governance Checks and Balances and Roles
With the implementation of Manta Governance 2.0, the network will transform into a more complex and balanced system. The introduction of the concept of five governance checks and balances ensures a strong governance framework.
Legislative Council: Here, $MANTA token holders make decisions on the network roadmap, vision, token economic model, and utility. Members of this committee are selected for their deep understanding of blockchain economics and community needs, ensuring that the strategic direction of the network is aligned with the broader goals of growth and innovation.
Executive Council: Managed by the Manta Foundation, the Executive Council translates the decisions of the Legislative Council into action, focusing on network operations, user education, and research and development. Members of the Executive Council are selected for their expertise in blockchain technology, education promotion, and operations management.
Judicial Council: Responsible for overseeing grant allocation and implementing governance tools to ensure and achieve a fair democratic process, including services such as Snapshot and zkVote. Its members are experts in governance systems and decentralized voting mechanisms, ensuring fairness and transparency in the allocation of network resources.
Examination Council: Responsible for managing the Manta Foundation member election process, the committee adheres to the principles of democratic elections and accountability. Every two years, $MANTA $MANTA on the Manta Pacific platform elects foundation members responsible for executing governance decisions. Its members are recognized for their experience in the election process and governance structure, ensuring the integrity and transparency of the election of foundation members.
Control Council: As an audit department, it plays a key role in overseeing the entire governance process and maintaining the integrity of the network. The members of the Examination Council are selected for their background in auditing, compliance, and risk management, providing the necessary supervision and quality assurance layer. The inaugural members of the Supervisory Board include authorized representatives from well-known entities such as Cointelegraph, Veridise, Celestia, Polygon, and Polychain.
As #MantaRWA生态 continues to grow, it becomes a model for innovation in blockchain governance. Become part of a network that is not only leading in technological advancement, but also redefining governance standards in the blockchain world. Manta's commitment to innovation, transparency, and sustainable growth is not just a promise, but a new vision in the blockchain space.
$MANTA #MantaRWA生态 @MantaNetwork