🤩 We've been seeing so much amazing content from our community this past month highlighting @MantaNetwork's technology and achievements through #MantaTech. We're highlighting some of the most exciting content. See them below!
@ajagbealexandra wrote a thread covering our achievements this past quarter.
We had a great panel in partnership with @fuellabs_ at @ETHBerlin last week on how privacy+modularity bring the next billion users to Web 3. Catch the video play here or read along the thread for a TLDR crowdcast.io/e/fuel-x-manta…
Modularity lets dapps easily spin up blockchains for very specific use cases, and a multi-chain world will allow them to communicate to each other seamlessly. @Yazanator
Optional privacy will help users feel safe to explore web3. New users want to feel their data is safe and protected after the privacy invasion of web 2 @toghrulmaharram
zkAssets are natively (on-chain) private crypto assets, guarded by zero-knowledge proofs. They contain all properties of normal crypto assets, and add a layer of configurable privacy. Some properties:
🤸 Flexible Asset Types
zkAssets can be any asset type: fungible (eg tokens), non-fungible (eg #NFTs), and non-transferrable non-fungible (eg #soulbound)
🔒 Private by Default
The asset holder’s address, the nomination of the assets of each holder, and asset type are all natively encrypted on-chain, only to be seen if the holder chooses to show.
A Zero-Knowledge Proof (#ZKP) has evolved from an idea in GMR’s paper 20 years ago to a technology that empowers many Web3 companies.
Why is it so important and why is @MantaNetwork betting on it? Here’s a thread:
In cryptography, encryption is a process of converting plaintext (readable text) into ciphertext (unreadable text). #ZKP, however, is a higher-level encryption on computation. It’s like proving you know 3+5=8 without revealing how.
Why do we need #ZKP in #Web3? Blockchain builds trust through a distributed-ledger system with nodes/computers around the world repeatedly racing to solve the same computations. That’s why consensus is so expensive.
ZKSNARKS are carrying the torch of privacy held by cypherpunks and crypto-anarchists since the dawn of the internet. Yesterday's community call was about how we use ZKs in crypto to validate info without access.
A quick look at some of the words we use in the privacy world 👇
🔒 ZK: Zero Knowledge; it is a type of cryptographic proof. It refers to the confidentiality and privacy of information between users without compromising their security.
⌛️ S: Succinct; refers to the brevity and speed with which the proof can be verified and proven to be genuine or legitimate. As proofs are a demonstration of possession of information or data, their size is small, so they can be verified and validated in a matter of milliseconds.
OpenZL is an initiative that we started at @MantaNetwork to make it easier for devs who aren't cryptography experts to build zero-knowledge proofs into their applications. We're making it easier for everyone to use #ZKP.
Current solutions for building fall under two categories:
1) Build using high-level languages like Circom
❌ The disadvantage here is that you can't take advantage of performance optimization, so your application has a potentially worse user experience.