ZK Public Chain Manta Network to Support Coin An BAB Holders: A Game-changing Connection with BNB Chain

According to reports, the ZK public chain Manta Network will support all holders of Coin An BAB (SBT issued by Coin An) and cast zkBAB on the Manta antecedent network Calamari, which means that Manta Network will connect with BNB chain via zkSBT for on chain DID.

Manta Network and BNB chain connect the DID on the chain through zkSBT

If you follow cryptocurrency news, you may have come across the name ‘Manta Network’ quite frequently over the past few months. Manta Network is a privacy-focused decentralized finance (DeFi) project built on the ZK- Rollup architecture. While its main focus is to ensure the privacy of DeFi transactions, the network has taken a step forward by announcing that it will support all holders of Coin An BAB (SBT issued by Coin An) and cast zkBAB on the Manta antecedent network Calamari. This means that Manta Network will connect with BNB chain via zkSBT for on-chain DID. In this article, we will delve into the details of this groundbreaking development.

What is Manta Network?

Manta Network is a decentralized platform that offers privacy-focused solutions to the DeFi ecosystem. The network uses a technology called ‘zk-rollups’ to provide privacy and scalability for DeFi applications. This technology has already been implemented on other platforms such as Zcash and Ethereum with great success. With Manta Network, you can engage in DeFi activities without worrying about your transaction details being revealed to the public.

Introducing Coin An BAB and ZK Rollups

Coin An BAB is a new generation stablecoin issued by Coin An. Unlike traditional stablecoins that are backed by fiat currencies or precious metals, Coin An BAB uses a collateralized debt position (CDP) model to maintain stability. Since its introduction, Coin An BAB has gained significant market traction due to its ability to remain stable in a volatile market.
Manta Network leverages the power of zk-rollups to provide private and scalable DeFi solutions. It does this by bundling multiple transactions together and submitting them as a single transaction on the blockchain. This process results in lesser computational power and lower transaction fees, leading to faster and cheaper transactions.

Manta Network Support for Coin An BAB Holders

Manta Network has announced that it will support all holders of Coin An BAB, by casting zkBAB on the Manta antecedent network Calamari. This is a significant move as Coin An BAB holders will now be able to engage in private DeFi activities. With the support of Manta Network, Coin An BAB holders can expect faster and cheaper transactions, thanks to the zk-rollup technology.
Moreover, the connection with BNB chain via zkSBT for on-chain DID will enable Coin An BAB holders to transfer and validate their digital identities privately and securely. This feature holds monumental potential for financial institutions that require privacy and security for their identity data.

Benefits of This Development

The connection of Manta Network with BNB chain via zkSBT for on-chain DID has many benefits. Firstly, it provides privacy and security to financial institutions, enhancing their trust in the DeFi ecosystem. Secondly, this development enables faster and cheaper transactions, which improves the overall efficiency of the DeFi ecosystem. Thirdly, the introduction of zkBAB enhances the security of Coin An BAB holders and eliminates the risks associated with transparent blockchains.

Conclusion

Manta Network’s support for Coin An BAB holders is a groundbreaking development in the DeFi ecosystem. The connection between Manta Network and BNB chain via zkSBT for on-chain DID holds the potential to revolutionize the way financial institutions operate in the DeFi space. Manta Network’s commitment to providing privacy-focused solutions to DeFi activities is a significant step towards mainstream adoption.

FAQs

1. What is Coin An BAB?
Coin An BAB is a new generation stablecoin that uses a collateralized debt position (CDP) model to maintain stability.
2. What is zk-rollup technology?
zk-rollup is a technology that bundles multiple transactions together and submits them as a single transaction on the blockchain. This process leads to lower computational power requirements and lower transaction fees.
3. How does Manta Network’s connection with BNB chain via zkSBT for on-chain DID benefit Coin An BAB holders?
The connection between Manta Network and BNB chain via zkSBT for on-chain DID provides privacy and security to financial institutions, enabling faster and cheaper transactions, and eliminating risks associated with transparent blockchains.