Manta Network - $MANTA

Code Review - 05/11/2021

Marcus Kelly avatar
Written by Marcus Kelly
Updated over a week ago


Manta Network is a set of easy-to-use and secure protocols based on Substrate frameworks. Part of the Polkadot ecosystem, it uses zk-SNARK to provide complete end-to-end anonymity, high throughput, and high crosschain interoperability. The suite of solutions Manta provides includes 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. The Decentralized Anonymous Payment (DAP) protocol allows users to swap Polkadot and its Parachain tokens with corresponding private tokens, pay with privacy tokens, and redeem base coins from private tokens while the Decentralized Anonymous Exchange (DAX) protocol lets users anonymously trade private versions of tokens on the platform between each other.

With current solutions, user addresses can only provide pseudo-anonymity rather than real user privacy which gives commercial competitors or malicious Internet users the ability to use transaction graph analysis to match user identities with addresses. Manta Network aims to fix this issue and seems well advanced to do so. Manta’s founding team comprises many US cryptocurrency veterans, professors, and scholars whose experience includes Harvard, MIT, Algorand, and other institutions. While the project is promising on the paper, it is also still really early in terms of development of the actual product and the developing team seems relatively small so only time will tell if they are actually able to deliver. The token hasn’t been launched yet.

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