On October 25th, Odaily, together with DFG and Acala, held the "Growth of All Things - Polkadot Ecological Theme Meeting" in Shanghai. Representatives of professional investment institutions, project parties who will participate in the front-line bidding, development teams, foundation community leaders and other ecological roles stand together at a new starting point when Polkadot officially enters the application stage, predict the development trend of the ecology, and explore various Prospects for class applications.
On October 25th, Odaily, together with DFG and Acala, held the "Growth of All Things - Polkadot Ecological Theme Meeting" in Shanghai. Representatives of professional investment institutions, project parties who will participate in the front-line bidding, development teams, foundation community leaders and other ecological roles stand together at a new starting point when Polkadot officially enters the application stage, predict the development trend of the ecology, and explore various Prospects for class applications.
Meanwhile, Victor Ji, a core contributor to Manta Network, delivered a speech on the theme of "Polkadot's On-Chain Privacy Financial World". He believes that Manta's on-chain privacy solution is Prifi+ZkSNARK. PriFi (Privacy Finance) has been reported by mainstream media such as "Wall Street Journal" and "Forbes", and ZkSNARK is likely to be the most important in the next 5 to 10 years. privacy technology. In the entire Polkadot ecosystem, Manta is the only project that does on-chain privacy protection. If divided according to the development stage, the privacy protection track can be divided into three versions: 1.0, 2.0 and 3.0, among which Manta is the representative of privacy protection 3.0.
The following is the full text of Victor Ji’s speech, edited by Odaily, enjoy~
Hello everyone! It's a pleasure to meet you all. Today my topic is "Polkadot's On-Chain Privacy Financial World". As we all know, on the current blockchain, any token and address information can be seen by others, and all transactions and all liquidity are transparent.
We have done such a research and interviewed industry practitioners and trading institutions, as well as KOLs in many industries, as well as many new project parties. They all have privacy concerns. Nearly 3/4 of the respondents are concerned about privacy. 90% of people have also snooped into other people's wallets, and I think many people have also seen other people's assets and transaction records.
Similarly, our solution is Prifi+ZkSNARK, which has been reported by the Wall Street Journal and Forbes. Recently, V God also said that the most important technology in the next 5 to 10 years is ZkSNARK. In the entire Polkadot ecology, we are the only one doing this direction.
Many people say that the track of privacy is not so popular. My personal point of view is that the privacy track has gone through three stages: 1.0, 2.0 and 3.0.
Let’s talk about 1.0 first. 1.0 is a relatively well-known project, such as Zcash, Monero, and Dash. Zcash makes its own tokens invisible. As public chains, they cannot expand contracts or make them compatible.
2.0 is about performance, composability, and security. Representative projects include Tornado Cash and Secret.
In the era of 3.0, the main solutions are Manta and Aztec. Our advantages are that our products will be more user-friendly, with high performance, interoperability, composability and security.
Many people ask why we choose Polkadot? The first is that there is a faster operating environment on Polkadot, as well as a fast consensus protocol, which is sufficiently customizable and highly interoperable. Polkadot's parachain architecture enables Manta to achieve interoperability. In this way, any parachain assets can interoperate through the Manta interface. This presents a huge opportunity to grow the Manta ecosystem.
Through ZkSNARK and Substrate, our products bring plug-and-play privacy protection to the entire DeFi network. This part is three steps. The first is MantaPay, which converts all Tokens, such as DOT into private DOT, which is the basis for protecting privacy; the second is a decentralized trading platform for privacy; the third is Manta’s 3.0 era, Amazon was originally a product and eventually turned into a platform, and then Manta’s products changed from private payment and private cash to a private smart contract platform. At the earliest time, our team also developed the function of integrating smart contracts.
How does Manta empower Polkadot's ecology? What we are currently doing is to turn the assets on Polkadot into private assets, and then support private payments, including the assets on Acala and Astar. Many people ask what is the relationship between us, but it is actually a cooperative relationship.
Most of our team is in Boston, USA. I was at Harvard before, and another co-founder founded the first bitcoin options trading platform in 2014. The reason why we started Manta in the first place was because last year, we made a private payment project for the US central bank, and this project was applied to DeFi. Thanks to the background of the team, we have also received the support of many excellent investment institutions. We just announced a new funding round led by Parafi and Coinfund.
According to the Roadmap we published in the white paper, in Q2 2021 we released the test versions of MantaPay and MantaSwap, and then in Q3 2021 we just completed the Kusama card slot auction and the Grant of the Web3 Foundation. The goal of Q4 is to complete the Manta mainnet Launch and Mantapay live.
Many people have never heard of the Manta project, but our pioneer network Calamari has more than 16,000 people supporting it. We don't have many Twitter followers, but you can see that each tweet has thousands of followers, very active.
