Blockchain with layer 1 zero-knowledge On March 20, Manta Network declared that their protocol now supports assets such as soulbound tokens (SBTs) and nonfungible tokens (NFTs). Through the usage of Manta Network’s ZK technology, the MantaPay protocol, which at first allowed only fungible crypto assets, promises to now enable NFTs and SBTs with support for privacy preservation. Zero-knowledge proofs (ZK proofs), a privacy-focused technique, are employed by ZK technology to enable completely secret transactions on decentralized finance (DeFi) networks.
Manta Network Has A New Policy In The Making
According to the company, its NFT Private Offering platform enables customers to privately launch zkNFTs/zkSBTs without the need for technical or cryptographic skills. Users are intended to securely and discreetly mint NFTs and SBTs while safeguarding the confidentiality of their crypto assets by using zero-knowledge proofs (ZKPs). This platform promises to make sure that only the transaction’s authenticity is revealed, with no further information. The characteristics, attributes, traits, and accomplishments of a person or an entity are represented by soulbound tokens, which are digital identity tokens.
In contrast to conventional SBTs, Manta Network’s zkSBT (zero-knowledge Soulbond Token) proposes to leverage ZKPs to provide security and privacy features. Users can launch tokens on several chains, like Ethereum, BNB Chain, and Polygon while keeping their privacy credentials by using zkSBTs on Manta Network’s chain because zkSBTs are designed to deliver a chain-agnostic experience. This can be validated using proof keys without revealing any information about the wallet. Support for NFTs and SBTs on the Manta Network is anticipated to be a big step forward for the network as it increases the number of decentralized asset types it can handle.