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News

Layer-1 Manta Network To Launch Privacy-Focused Soulbound Token zkSBT

May 23, 2023 - Around 2 mins mins to read

Key Points:

  • The Layer-1 blockchain Manta Network running has partnered with the rollup-based scaling solution Linea to launch a privacy-centric soulbound token (zkSBT).
  • Starting today, users will be able to mint new zkSBT through Manta Network’s NPO platform.
  • These zkSBTs will provide users with a decentralized, trustless, and private means for validating their true identity and preventing any information or data leakage linked to their on-chain conduct.
Manta Network, a Layer-1 blockchain built on Polkadot, has teamed with Linea, a rollup-based scaling solution, to introduce a privacy-focused soul-bound coin (zkSBT).
Layer-1 Manta Network To Launch Privacy-Focused Soul-Bound Token zkSBT
Layer-1 Manta Network To Launch Privacy-Focused Soulbound Token zkSBT 2

Users may now create new zkSBT using Manta Network’s NFT Private Offerings (NPO) platform as long as they complete one of two Linea NFT campaigns.

Vitalik Buterin, the co-founder of Ethereum, was the first to propose Souldbound Tokens. They work similarly to NFTs, except that they cannot be exchanged and are linked to the identification of a person or organization. These might be used for medical records or certifications as well.

These zkSBTs will provide users with a decentralized, trustless, and private mechanism to authenticate their true identities while preventing any information or data leakage regarding their on-chain behavior.

The revolutionary tokens will employ Linea’s zkPioneer, as well as a unique Manta invention called Proof Key, to allow any Web2 or Web3 application to validate a user’s information without connecting to a wallet.

Manta Network is a layer 1 blockchain built on Polkadot’s Substrate framework. Manta Network’s vision is to create a privacy smart contract platform, to achieve that, the project uses zk-SNARK to provide anonymity, high throughput, and cross-chain interoperability.

Currently, Manta Network is the only anonymous DeFi product that is compatible with all asset classes, including stablecoins, and provides security using cryptography instead of hardware.

Compared to public blockchains that also adopt Zero-Knowledge Proof (ZKP) technology like Findora, Manta Network can support multiple cross-chain assets in Polkadot’s ecosystem. At the same time, Manta Network also reduces repetitive work in the evolution of Polkadot’s consensus layer ecology.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Layer-1 Manta Network To Launch Privacy-Focused Soulbound Token zkSBT

Key Points:

  • The Layer-1 blockchain Manta Network running has partnered with the rollup-based scaling solution Linea to launch a privacy-centric soulbound token (zkSBT).
  • Starting today, users will be able to mint new zkSBT through Manta Network’s NPO platform.
  • These zkSBTs will provide users with a decentralized, trustless, and private means for validating their true identity and preventing any information or data leakage linked to their on-chain conduct.
Manta Network, a Layer-1 blockchain built on Polkadot, has teamed with Linea, a rollup-based scaling solution, to introduce a privacy-focused soul-bound coin (zkSBT).
Layer-1 Manta Network To Launch Privacy-Focused Soul-Bound Token zkSBT
Layer-1 Manta Network To Launch Privacy-Focused Soulbound Token zkSBT 4

Users may now create new zkSBT using Manta Network’s NFT Private Offerings (NPO) platform as long as they complete one of two Linea NFT campaigns.

Vitalik Buterin, the co-founder of Ethereum, was the first to propose Souldbound Tokens. They work similarly to NFTs, except that they cannot be exchanged and are linked to the identification of a person or organization. These might be used for medical records or certifications as well.

These zkSBTs will provide users with a decentralized, trustless, and private mechanism to authenticate their true identities while preventing any information or data leakage regarding their on-chain behavior.

The revolutionary tokens will employ Linea’s zkPioneer, as well as a unique Manta invention called Proof Key, to allow any Web2 or Web3 application to validate a user’s information without connecting to a wallet.

Manta Network is a layer 1 blockchain built on Polkadot’s Substrate framework. Manta Network’s vision is to create a privacy smart contract platform, to achieve that, the project uses zk-SNARK to provide anonymity, high throughput, and cross-chain interoperability.

Currently, Manta Network is the only anonymous DeFi product that is compatible with all asset classes, including stablecoins, and provides security using cryptography instead of hardware.

Compared to public blockchains that also adopt Zero-Knowledge Proof (ZKP) technology like Findora, Manta Network can support multiple cross-chain assets in Polkadot’s ecosystem. At the same time, Manta Network also reduces repetitive work in the evolution of Polkadot’s consensus layer ecology.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News