Although the current distributed ledger has brought a new payment model without the participation of third-party financial institutions, most records of the current cryptocurrency transactions are publicly available due to the transparency of blockchain technology. Public transactions can be viewed by competitors or third-party organizations, which affects business interests. At an individual level, public transactions can be taken advantage of by advertisers and criminals.
Although anonymous cryptocurrencies such as ZCash exist, the status quo has two major problems. High price volatility is the first problem, which affects practical use. The lack of scalability is the second problem, which limits use to only simple payments. The exchange of anonymous coins and other cryptocurrencies, including other anonymous coins, is still unsolved — that still relies on centralized exchanges and OTC.
Manta Network addresses the above two pain points. First, the decentralized anonymous payment protocol based on zk-SNARK supports the exchange of Polkadot and Substrate Parachain assets to their corresponding private pairs. In this way, users can use popular assets like stable coins, renBTC, etc., while simultaneously benefiting from the anonymity of privacy coins.
Second, a decentralized anonymous exchange protocol based on AMM and zk-SNARK can realize decentralized transactions between private coins, which is similar to Uniswap and Curve, and ensure transaction addresses’ privacy. Our product is the only platform that can meet user privacy needs, boast anti-surveillance, and ensure private tokens’ stability and interoperability. Also, compared to the centralized dark pool, the decentralized version is more credible and secure, as it reduces single points of failure.
