Manta Network to Integrate with BNB Chain via zkSBT for On-Chain DID

04/14/2023 19:52 • Metaverse Matters • 92 views

According to reports, the ZK public chain Manta Network will support all holders of Coin An BAB (SBT issued by Coin An) and cast zkBAB on the Manta antecedent network Calamari, which means that Manta Network will connect with BNB chain via zkSBT for on chain DID.

Manta Network and BNB chain connect the DID on the chain through zkSBT

The ZK public chain Manta Network has announced that it will support all holders of Coin An BAB (SBT issued by Coin An) and cast zkBAB on the Manta antecedent network Calamari. This means that Manta Network will connect with BNB chain via zkSBT for on-chain DID.

What is Manta Network?

Manta Network is a privacy-preserving decentralized cloud that aims to offer a secure and trustworthy infrastructure for the new global economy. It is a zero-knowledge proof (ZKP) based protocol that provides privacy to users while they transact on the network. It allows for the creation of private DeFi applications, including lending, trading, and exchanging, without compromising user privacy.

The Need for zkSBT on the Manta Network

Currently, the Coin An BAB (SBT) has over 1 million users worldwide, and the demand for privacy-preserving transactions has increased. In response to this, Manta Network has integrated zkSBT to allow for more efficient and secure on-chain operations. This integration provides users with privacy, security, and scalability to protect their identities and financial transactions.

How Will Manta Network Connect with BNB Chain through zkSBT for On-Chain DID?

To ensure privacy and confidentiality for users, Manta Network will use the zk-SNARK technology to enable secure and transparent transactions between users. The zk-SNARK technology ensures the authenticity of transactions while maintaining the privacy of the user’s identity. With this integration, it will be possible to create an on-chain decentralized identity (DID) within the Manta Network, which will be linked to a user’s identity on the Binance Smart Chain, BSC.
This integration will allow for seamless transactions between the two networks and eliminate the risk of double-spending or fraud. It will also enable users to conduct their transactions securely and transparently and reduce transactional costs.

What Are the Benefits of Integrating zkSBT on the Manta Network?

The integration of zkSBT on the Manta Network offers several benefits, including:
1. Increased Privacy: Users’ privacy is protected, and transactional data is encrypted, ensuring that users’ personal and financial information remains confidential.
2. Scalability: The Manta Network’s privacy-preserving infrastructure allows for the creation of private DeFi applications, including lending, trading, and exchanging, without compromising user privacy, thereby increasing scalability.
3. Security: The integration of zkSBT technology ensures that transactions on the network cannot be tampered with or reversed, thereby providing users with increased security.

Conclusion

The integration of zkSBT on the Manta Network will provide a secure and trustworthy infrastructure for the new global economy. It will enable seamless transactions between the Manta Network and the Binance Smart Chain, BSC, while preserving users’ privacy and confidentiality.
Moreover, this integration has set a new standard for privacy and security protocols on decentralized networks. As the adoption of cryptocurrencies and blockchain technology continues to grow, privacy, security, and scalability will become increasingly important.

FAQs

Q. Will Manta Network support other cryptocurrencies in the future?
A. Yes, Manta Network is constantly exploring ways to improve its infrastructure and provide more options for its users.
Q. How does the integration of zkSBT on the Manta Network impact users?
A. The integration of zkSBT enhances transaction security and privacy, increases scalability, and reduces transactional costs.
Q. What is the significance of on-chain DID within the Manta Network?
A. On-chain DID within the Manta Network allows for seamless transactions between the Manta Network and other networks while maintaining user privacy and confidentiality.

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