Polkadot Privacy Project The Largest Trusted Manta Network Eyes Crypto Install Ever

From blowing up computers to using radioactive dust from Chernobyl, cryptography is getting another reliable install. This time it is the largest.

P0xeidon Labs, the development team at Manta Network, today announced a trusted install ceremony that will be used to launch its payment app.

MantaPay allows users to send encryption privately at the expense of others polka dot– And Kusama-based networks using zkSNARK technology. Kusama is akin to a test network for all things Polkadot.

The party is expected to last up to two weeks and will feature nearly 5,000 participants from as many as 133 countries, making it the largest and most trusted installation in Web3 history, according to the Manta Network.

Trust settings are unique events in cryptography and are implemented to ensure that the newly launched privacy network cannot be hacked. Members of a group randomly generate network encryption rules (public parameters) and sometimes destroy the device on which these rules were created.

“We’re seeing a lot of interest in participating in our trusted pool — about 5,000 registrations so far. I think it indicates how important privacy is to Web3, and the ecosystem understands that,” said Kenny Lee, co-founder and COO of Manta Network, Decrypt.

Manta Network, which is developing its own Layer 1 blockchain using Polkadot’s Nominated Proof of Stake (NPoS) consensus model, says it is building the future of Web3 while protecting privacy, enabling users to conduct private transactions between any parallel chain of assets of any type. .

As the team explained, MantaPay will not have its original token. However, there are plans to release one for Manta Network.

Disposal of “toxic waste” of the Manta grid

The trusted Manta Network scheme will see party participants – known as detectives and detectives – generate zero-knowledge clues (ZKPs), which Manta Network says is at the core of its privacy functions. This ensures that transactions are valid without any private information being sent to the blockchain.

The installer and the validator will perform a complex computation, observing the “shared secret” that will be used to generate public parameters. A shared secret is a set of verified private keys that are received by the installer and the validator.

Calculating the keys results in what cryptographers call “toxic waste” that must be disposed of.

“Toxic waste can be described as secret numbers that allow anyone to produce fake ZKPs. Anyone who knows these numbers can generate tokens out of thin air in our protocol,” said Todd, a pseudonymous cryptographic designer at P0xeidon Labs. Decrypt.

According to them, “The reason for a reliable installation ceremony is to split the waste into thousands of pieces and give each participant a piece. If you destroy your piece, the attacker will never be able to figure out the toxic waste.”

Trusted Settings

Some notable examples of trusted setups in the blockchain space include zcash (ZEC) in 2016. This was the first practical implementation of a zero-knowledge proof system, with NSA whistle-blower Edward Snowden among those who helped launch the privacy coin.

Aleo, another project to develop privacy tools for the web, had About 1000 contributors for a party in 2021.

The US-certified Ethereum mixing service Tornado Cash is believed to have completed the most trusted setup before today. The ceremony concluded with 1,114 participants to help launch the platform in 2020.

As Ethereum co-founder Vitalik Buterin said earlier this year, “To the extent that trusted setup celebrations are necessary, it is important to remember that not all trusted setups are the same. 176 participants is better than 6, and 2,000 would be better.” .

As Manta Network prepares to set a new record for trusted settings, the team behind the project has confirmed that this is made possible thanks to lower engagement requirements.

“The standard is too low, we have no hardware requirements because with ZKP it doesn’t know the hardware. We support major operating systems including Ubuntu Linux, Apple and Windows OS” Decrypt.

According to Lee, it is very easy to participate as long as anyone can follow the ceremony instructions.

He added, “The registration process is just a few steps, and if you manage to pass it, you can also complete the scholarship phase once you have started.”

Integrity as a core value

User privacy remains key to Manta, with an anonymous participant in the installation saying “Web3 is the frontier of new technology and privacy is critical to building that infrastructure. I’m concerned about protecting personal information, especially financial information. A trusted arrangement means I can contribute to the future I believe in.” “.

The COO of Manta Networks also confirmed that there are no financial incentives for trusted participants in the installation ceremony – apart from earning a non-fungible token (NFT) Prove that they have contributed and a Discord title to the Manta community channel.

This makes setting up a trusted Manta Network a true community effort.

“Privacy is not just about keeping transactions secret; rather, it is about your complete identity on the chain: every app you interact with, every wallet you interact with, and all the data you record on the blockchain is permanent and publicly available.” Decrypt. “Without privacy solutions, the blockchain becomes a huge monitoring tool.”

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