The collaboration was driven by the goal to address one of the central issues troubling the crypto universe today – privacy.
Manta Network, a Layer-1 blockchain powered by Polkadot, has partnered with a rollup-oriented scaling solution provider Linea to introduce zero-knowledge soulbound tokens (zkSBT).
In a space where transparency is an inherent characteristic of open blockchains, Manta Network intends to balance this equation by offering privacy-enhanced solutions.
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The company’s co-founder, Victor Ji, commented on the matter by stating:
The problem we are trying to tackle here is so that verification is only limited to certain on-chain activities, rather than share all data to an app.
Emphasizing the user-friendly nature of this solution, Ji revealed that users won’t be obligated to undergo rigorous know-your-customer (KYC) screenings. Instead, Manta’s zkSBT mechanism will be used to authenticate their identity.
Starting March 23rd, users could mint these cutting-edge zkSBTs via Manta Network’s NFT Private Offerings (NPO) platform, provided they have participated in one of the two Linea NFT campaigns.
In a joint statement, the collaborating firms underlined that zkSBTs will “offer users a decentralized, trustless, and private way to verify their real identities without compromising any information or data leakage about their on-chain activity.”
Expounding on the vision behind this solution, Ji commented:
We think mobile users have the largest <daily active users>, but have the worst experience in crypto now, and we can enable them without a need to connect wallets to verify their on-chain and off-chain credentials.
First introduced by Ethereum co-founder Vitalik Buterin, Soulbound Tokens function similarly to NFTs, with the fundamental difference being that they are untradeable and bound to the identity of a person or entity. These tokens can be utilized for various applications, including medical records or certificates.
Manta Network’s innovative partnership with Linea and the subsequent introduction of zkSBT tokens marks a significant milestone in enhancing privacy in the crypto space. This forward-thinking solution will reshape how users interact with blockchain technology, promoting a balance between transparency and privacy.