Zero-knowledge layer 1 blockchain Manta Network announced on March 20 that it had added support for assets, including nonfungible tokens (NFTs) and soulbound tokens (SBTs), to its protocol. The MantaPay protocol, which initially supported only fungible crypto assets, promises to now allow for privacy-preservation support for NFTs and SBTs through the use of Manta Network’s ZK technology. ZK technology is a privacy-focused technology that uses zero-knowledge proofs (ZK proofs) to enable fully private transactions on decentralized finance (DeFi) platforms.
Today, we are announcing an expansion of @MantaNetwork‘s ZK capabilities by enabling privacy support for NFTs and SBTs through zkSBTs and zkNFTs. These assets can be minted through the upcoming NFT Private Offerings (NPO) platform.
Read more: https://t.co/j29wmHqOzA pic.twitter.com/QiyblBWusW
— Manta Network (@MantaNetwork) March 20, 2023
The company said that its NFT Private Offering platform is a launchpad for NFTs and SBTs that seeks to enable users to privately launch zkNFTs/zkSBTs without requiring technical or cryptographic expertise. Through the use of zero-knowledge proofs (ZKPs), users are meant to securely and privately mint NFTs and SBTs while protecting the privacy of their crypto assets. This platform promise to ensure that only the validity of the transaction is revealed without disclosing any additional information.
Soulbound tokens are digital identity tokens representing a person or entity’s characteristics, features, traits and achievements. Manta Network’s zkSBT (zero-knowledge Soulbond Token) promises to use ZKPs to provide security and privacy features compared to traditional SBTs. zkSBTs are designed to provide a chai
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Author: Judith BannermanQuist
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