Layer 1 zero-knowledge blockchain Manta Community introduced on March 20 that their protocol now helps property akin to non-fungible tokens (NFTs) and soulbound tokens (SBTs). The use of Manta Community’s ZK generation, the MantaPay protocol first of all supported simply fungible crypto property and can now supply privacy-preserving reinforce for NFTs and SBTs. ZK generation is a privacy-centric generation that makes use of zero-knowledge proofs (ZK proofs) to permit whole non-public transactions on decentralized finance (DeFi) platforms.
As according to the company’s observation, their NFT Non-public Providing platform purposes as a springboard for launching NFTs and SBTs, permitting common other folks to release zkNFTs/zkSBTs while not having complex technical or cryptographic experience. Thru the usage of zero-knowledge proofs (ZKPs), people must be capable of safely and confidentially generate NFTs and SBTs whilst additionally retaining their cryptocurrency property non-public. The platform promises that best the transaction’s legitimacy will probably be disclosed with out any longer knowledge.
Soulbound tokens are virtual id tokens that constitute the attributes, characteristics, and accomplishments of an individual or entity. Manta Community’s zkSBT (zero-knowledge Soulbond Token) will make the most of ZKPs to offer enhanced safety and privateness in comparison to typical SBTs. The aim of zkSBTs is to supply a chain-agnostic interface, permitting customers to release tokens on more than one chains, akin to Ethereum, BNB Chain, and Polygon whilst keeping up their privateness credentials by the use of zkSBTs on Manta Community’s personal chain. It may be validated the usage of evidence keys with out revealing pockets knowledge.
Strengthen for NFTs and SBTs through the Manta Community is expected to be a key development for the community because it expands the variability of decentralized asset categories it may possibly organize. With the addition of zkNFT/zkSBT features, Web2 and Web3 utility building now not calls for cryptography or ZKP experience. This capability facilitates the fast building of cellular packages and DApps, offering builders with fascinating new alternatives to construct tasks focused on NPO, zkNFTs, and zkSBTs.
Remaining 2021, Manta Community secured $5.5 million in a investment cycle involving over 30 funding price range, together with CoinFund, a hedge fund that specialize in cryptocurrency, and ParaFi Capital, a company that makes a speciality of selection investments.
On January 10, Manta Community had a record-breaking depended on set-up rite with participation from over 4,000 people. The set-up used to be carried out to help within the building of MantaPay, an utility designed to facilitate non-public bills between people. MantaPay will function at the Polkadot parachain Manta Community and the Kusama parachain Calamari. It is going to make use of zero-knowledge proofs to make sure that best the sender and recipient would possibly view every cost.
