What is $MANTA? How does it work?

Manta Network (MANTA) is establishing itself as a prominent player in the cryptocurrency space, especially within the realm of privacy-focused and zero-knowledge (ZK) applications. As a multi-modular ecosystem designed to enhance privacy, scalability, and transaction security, Manta Network is rapidly gaining attention.

The MANTA token, which serves as the native currency of the Manta Network, has been showing impressive performance recently. According to CoinMarketCap, the token has surged by over 6% in just the past day and more than 11% over the previous week. This upward trend reflects growing investor confidence and increasing interest in the project.

Despite the inherent uncertainties of the volatile cryptocurrency market, Manta Network's current trajectory is promising. The project's emphasis on advanced privacy features and scalable solutions positions it as a noteworthy contender in the digital currency landscape. As such, both potential investors and users should keep a close eye on Manta Network and its native token, MANTA, to gauge its future developments and market impact.

Understanding Manta Network (MANTA)

Manta Network is a cutting-edge decentralized finance (DeFi) platform that emphasizes privacy and scalability. Built on the Substrate framework—a technology also employed by Polkadot (DOT)—Manta Network is designed to be compatible with the Polkadot ecosystem, aiming to leverage the strengths of this established blockchain infrastructure.

The primary focus of Manta Network is to enhance transaction privacy and speed. It addresses common issues found in many cryptocurrencies by employing advanced cryptographic techniques to ensure that transactions are both confidential and secure. This emphasis on privacy makes Manta Network an attractive option for users and investors who prioritize data security and anonymity in their financial activities.

Additionally, Manta Network tackles scalability challenges through its innovative blockchain technology. The platform’s design allows for faster transaction processing, enabling it to handle a higher volume of transactions per second compared to traditional blockchains. This scalability is a key feature that sets Manta apart from many of its predecessors.

In line with other DeFi platforms, Manta Network has its own governance token, MANTA. This token plays a crucial role in the platform’s ecosystem, facilitating governance decisions and offering various other utilities within the network.

What’s behind the surge in $MANTA? Will the rally continue?

Manta Network has recently garnered significant attention in the cryptocurrency market. A key driver of this surge is the impressive performance of Manta Pacific, which launched less than four months ago and has experienced a dramatic increase in Total Value Locked (TVL). According to L2Beat, Manta Pacific's TVL has now surpassed $1.48 billion, overtaking Base—an Ethereum layer 2 solution supported by Coinbase—to become the third-largest layer 2 scaling solution in the market.

This remarkable growth can be largely attributed to Manta Network’s ambitious “New Paradigm” campaign. Within just three weeks, this initiative saw an extraordinary $850 million bridged into the network, significantly boosting its financial metrics and market presence.

The influx of capital has led to a notable uptick in user activity, with over 540,000 active wallet addresses and 8.2 million total transactions recorded. On average, the network is seeing around 140,000 transactions daily, reflecting a strong and growing user base.

Additionally, Manta Atlantic, known for being the fastest zero-knowledge (ZK) Layer 1 chain within the Polkadot ecosystem, continues to enhance its offerings. Its suite of products, including zkNFTs, staking, and other ecosystem projects, provides users with advanced ZK-enabled features and functionalities.

Further fueling excitement, Manta Network recently executed a highly anticipated airdrop of its native MANTA token on January 18. During this event, 3% of the total token supply, equating to 30,000,000 MANTA tokens, was distributed to users and supporters of Manta Atlantic and Manta Pacific.

Given these developments, Manta Network’s recent rally reflects a combination of strategic initiatives, increased user engagement, and substantial capital influx. However, as with all cryptocurrencies, the future trajectory of $MANTA will depend on ongoing market conditions and the platform’s ability to sustain its growth and innovation.

Manta Network’s dual structure: Manta pacific and manta atlantic

Manta Network is structured into two distinct networks, each designed to fulfill specific roles within its broader ecosystem:

Manta Pacific

Manta Pacific functions as an Ethereum Virtual Machine (EVM)-equivalent platform tailored for zero-knowledge (ZK) applications. Operating on a Layer 2 basis, this network emphasizes scalability and security. It incorporates technologies like Celestia for data availability and Polygon zkEVM to boost performance.

The architecture of Manta Pacific facilitates lower gas fees and enhanced scalability, creating an optimal environment for the development and deployment of decentralized applications (dApps). It supports Universal Circuits, enabling developers to build ZK-enabled apps using Solidity in conjunction with the Universal Circuits SDK.

Manta Atlantic

Manta Atlantic serves as a zero-knowledge (ZK) Layer 1 chain, offering a decentralized and rapid platform with a strong emphasis on modular on-chain compliance identities. The network’s product suite includes zkNFTs, staking mechanisms, and various ecosystem projects.

A distinctive feature of Manta Atlantic is its focus on ZK compliance credentials and interoperability. It features a unique private address system, known as zkAddress, which conceals sensitive information such as soulbound token (SBT) minting, on-chain credentials, and off-chain identities.

Together, Manta Pacific and Manta Atlantic contribute to the Manta Network’s overarching goals of enhanced privacy, scalability, and innovative ZK applications.

What is Manta’s market cap?

Currently, MANTA is trading at $2.49, reflecting a notable increase of over 6% in the last 24 hours. The token holds the #103 spot on CoinMarketCap, with a live market capitalization of $579,253,419. This valuation is based on its circulating supply of 251,000,000 coins out of a total maximum supply of 1,000,000,000 coins. The market cap figures highlight MANTA's growing prominence in the cryptocurrency space, indicating a strong market presence and investor interest.

Summary

Manta Network is a sophisticated platform dedicated to the advancement of scalable decentralized applications. It operates through two distinct networks, each serving a unique function within the ecosystem:

• Manta Pacific: This network functions as a Layer 2 modular blockchain, specifically designed for zero-knowledge (ZK) applications. It leverages advanced technologies to improve scalability and reduce transaction costs, making it an efficient environment for decentralized application (dApp) development.
• Manta Atlantic: As the fastest zero-knowledge (ZK) Layer 1 chain on Polkadot, Manta Atlantic focuses on modular on-chain compliance identities and provides a robust infrastructure for various ZK-enabled features. Its suite of products includes zkNFTs, staking options, and other ecosystem projects, all geared towards enhancing privacy and interoperability.

Both networks have recently experienced significant growth, reflecting the increasing adoption and success of Manta Network’s innovative approach to decentralized finance and privacy-centric blockchain solutions. The expansion of these networks underscores the platform's potential to make a substantial impact in the cryptocurrency and DeFi sectors.