Jul 29, 2021
Manta Network: Privacy, No Longer A Luxury
In some quarters, the transparency of the blockchain might be its selling point, but there are occasions where you wish to keep certain transactions away from prying eyes. What do you do then?
Usually, privacy tokens often come in handy. But it’s a cumbersome process for anyone looking towards following that route, especially within the De-Fi space.
There’s also cryptocurrency volatility to consider. If you are getting privacy tokens, you have to stay wary of price changes.
Manta Network
The need to deliver privacy in a De-Fi setting necessitated the creation of the Manta Network. The Substrate-based protocol relies on zk-SNARK to deliver the privacy expectations of users.
Besides its dependence on Kumasa’s zk-SNARK (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge), the Manta Network approach to privacy is a confidentiality-focused decentralized exchange. This resolves the ease of transfer known to hinder privacy coins.
The Manta decentralized anonymous exchange leverages the privacy capabilities of zk-SNARK to its advantage. This is combined with an automated market maker creates the perfect environment for transacting cryptocurrencies.
An anonymous exchange doesn’t guarantee discreet transactions. And Manta Network knows this. Assets have to be transformed into their privacy versions to complete the delicate puzzle.
The other component of the Manta Network’s privacy effort is its decentralized anonymous payment protocol. Here, users exchange regular cryptocurrencies (Polkadot and Parachain related) for their privacy counterparts.
The DAP lets users purchase assets using privacy tokens. You can convert regular cryptocurrencies to privacy tokens. And revert to the base assets whenever the need arises.
The duo of DAP and DAX makes Manta Network tick. One creates the right environment for transacting cryptocurrencies the other guarantees a truly private experience.
The Role Of Calamari Network
Every innovative solution has to be put to the test. Even a Substrate-based privacy solution like Manta Network is no exception. Calamari is Manta Network’s attempt at testing the waters.
Manta Network has plans to service the privacy demands of the Kusama De-Fi space. For a privacy preservation solution with plans for a parachain status, beta testing is normal.
The Calamari Network will have the entire features expected on the Manta Network. It’s expected as the latter goes through the routine of testing its privacy solution.
On Calamari Network, MariPay and MariSwap will serve as DAP and DAX from the Manta Network.
MariPay boasts of support for a diverse array of tokens. The payment protocol lets you transfer cryptocurrencies privately. MariPay gets this done through the underlying zk-SNARK.
MariSwap lets users transact parachain assets by swapping cryptocurrencies I’m typical DEX style. Yet, the MariSwap liquidity pools remain under the radar, making it the perfect place for discreet trades.
Calamari promises to tackle not just privacy, but interoperability and surveillance issues. Not derailing from De-Fi traditions, Calamari Network will have its native token, KMA. The cryptocurrency has deflationary features. Holders can expect rebates and rewards based on the use of the Calamari Network.
Calamari Network Needs A Push
All novel projects need a push; the Calamari Network included. To this end, Calamari Network will be having a public loan offer. Here, everyone will get a chance to contribute KSM towards the growth of the private network.
The public loan offer will be carried out through an auction service. Successful contributors will get rewarded in KSM.
Closing Remarks
The Emergence of the Manta Network heralds the rise of a more discreet De-Fi space. Privacy tokens were never going to be enough. Fortunately, Manta Network brings home the bacon in the end. Its Calamari Network is only a slice of what’s to come.
Resources:
Website: https://manta.network/
Visit the medium article to read more: https://mantanetwork.medium.com/the-calamari-crowdloan-on-kusama-74a3cb2a2a4b
