Manta Network Joins Forces With Web3 Consortium To Advance Zero-Knowledge Technology

Blockchain technology, albeit disruptive, has a few lingering problems that are holding it back from achieving mass adoption. Legacy blockchain networks often face criticism for their lack of scalability, interoperability, and slow throughput rates. While some progress has been made in these areas, a lack of privacy has emerged as another critical concern that needs to be addressed rapidly. Thanks to the rapid advancement in technology, Zero-Knowledge (ZK) has emerged as a potential solution to all the problems that currently inhibit the blockchain industry. Since ZK is a relatively recent introduction, most of the blockchain universe isn’t fully aware of its potential. Realizing this, 22 Web3 and ZK companies recently formed a coalition to advance zero-knowledge to support scalability and mainstream adoption of Web3 through the ZPrize competition. In this context, Manta Network, the Polkadot-based plug-and-play privacy protocol for Web3 and one of the core sponsors of the ZPrize competition, has announced that it is joining forces with Mina Protocol to sponsor ZPrize’s “Open Division” competition. Manta Network and Mina Protocol will award the prize to projects that focus on maximizing throughput and minimizing latency of operations on client-type devices and blockchain-based Virtual Machines (VMs), specifically the WebAssembly (WASM) runtime. Along with sponsoring the Open Division event, both Manta and Mina teams will colla...