A Beginner's Guide to Manta Blockchain

A Beginner's Guide to Manta Blockchain

What Is Manta Blockchain?

Manta Blockchain is an innovative privacy-centric network employing zero-knowledge proof technology. It features two main components: Manta Pacific, a Layer 2 solution on Ethereum, focusing on scalable, efficient zero-knowledge applications, and Manta Atlantic, a Layer 1 chain in the Polkadot ecosystem, emphasizing programmable identities and credentials. This blockchain is designed to enhance security and privacy in web3 applications.

Brief History and Development

Founded in 2020 by Victor Ji, Shumo Chu, and Kenny Li, Manta Network has quickly become a significant player in the blockchain space, focusing on privacy and scalability through zero-knowledge proofs. A pivotal moment in its development was the mainnet launch of Manta Pacific, its Layer 2 blockchain tailored for zero-knowledge-enabled apps, which was preceded by a successful testnet phase attracting over 150,000 wallet addresses. This launch followed a substantial $25 million Series A funding round led by Polychain Capital in July. Another key milestone was the April 2023 launch of Manta Atlantic, a Layer 1 chain on Polkadot, which introduced a non-fungible token private offering platform, significantly contributing to the network’s growth and innovation in blockchain privacy.

What You Need to Know About Manta Ecosystem

Manta Network distinguishes itself with the fastest ZK-proving speed in Layer 1 blockchains, enhancing the user experience for on-chain zk applications. Its private transactions combine the affordability of Layer 2 with Layer 1’s decentralization. Although relatively new, Manta Network boasts a diverse range of partners and applications, spanning NFTs, GameFi, SocialFi, DeFi, and Web2 mobile apps, highlighting its broad utility across various sectors.

  • Alchemy Pay: Alchemy Pay (ACH) offers a unique payment solution, integrating fiat and cryptocurrency economies for a global audience, including consumers, merchants, developers, and institutions.

  • Optimism: Optimism Mainnet is a Layer 2 network utilizing Optimistic Rollup technology. It enhances Ethereum’s robust security while aiming to reduce costs and improve transaction speeds.

  • AsMatch: AsMatch stands as a Web3-based Socialfi application, focusing on secure, authentic, and enjoyable social interactions and friend-making experiences.

AsMatch AsMatch Socialfi application. Source: AsMatch

  • Manta DEX: Manta DEX represents the decentralized exchange platform within the Manta Atlantic ecosystem, offering a new dimension of trading experiences.

Getting Started With Manta Blockchain

Getting started with the Cosmos blockchain is straightforward - just follow the recommendations below:

Setting Up an Manta Wallet

The first thing you’ll need to work with the Manta Network is an appropriate wallet. Gem Wallet is an open-source, self-custody mobile wallet that supports Manta Pacific. Your Manta tokens will be safe, and its ease of use and intuitive interface will provide a comfortable user experience.

Acquiring MANTA

After creating a wallet, you’ll need MANTA tokens to interact with the blockchain. There are several ways to acquire them: purchasing on an exchange, borrowing from friends, or winning them in contests. Additionally, you can buy MANTA directly through the Gem Wallet using a credit card. This method is simple, convenient, and safe, offering an all-in-one solution that minimizes human error, such as incorrect wallet addresses, which can lead to total loss of funds. Just follow the instructions provided in the wallet.

Staking MANTA

Once you acquire MANTA tokens, a wise decision might be to stake some or all of your capital until you need them. While staked, your tokens will generate passive income, allow you to vote in important Manta blockchain events, and contribute to the overall security of the blockchain, thus securing your investment. Plus, it’s very simple: just select the staking section and follow the easy instructions.

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