Key Development: Binance Invests In This Web 3.0 Coin!

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Binance Labs supported the latest private funding round for building systems with Substrate (zero-knowledge proofs) zero-knowledge proofs for Manta Network (MANTA). Additionally, Manta Network will launch its MariPay solution later this year, which will hide transactions for Kusama’s KSM and Calamari’s KMA assets.

Manta Network managed to get funding from Binance Labs

According to the official announcement shared by Binance Labs representatives, it has signed an investment agreement with Manta Network:

Privacy is always key. Welcome to Manta Network, the Web3 privacy protocol designed to customize crypto assets to the Binance Labs family!

Manta Network (MANTA) leverages zero-knowledge proofs to bring an additional layer of privacy to transactions between Polkadot (DOT)-based para-chains. Nicole Zhang, director of investment at Binance Labs, seems confident that all privacy-centric use cases are among the most important applications of blockchain technology. Nicole Zhang made the following statement on the subject:

Privacy is a must to ensure Web3’s scalability and increasing use cases. We find that Manta brings a unique and valuable approach to solving this problem. We look forward to working with the project to bring scalable privacy to the blockchain space.

MariPay solution will be released soon

Kenny Li, co-founder of Manta Network, emphasizes that his solution will increase the privacy of decentralized applications (dApps) across different networks and various Blockchains:

Manta Network’s mission in the Web3 privacy space is to bring privacy as a utility to all crypto assets. We are excited to bring Binance Labs as a strategic investor and look forward to working with them to expand Manta Network’s privacy utility to other networks and decentralized applications.

Previously, Manta Network (canary network) rated a Kusama (KSM) para-chain slot for the ‘canary network’ Calamari. Manta has also deployed its testnet called Dolphin. In 2022, Manta Network will launch its MariPay solution, which will hide transactions for Kusama’s KSM and Calamari’s KMA assets.