Manta Network Joins Forces With Web3 Consortium To Advance Zero-Knowledge Technology
May 02 2022 - 7:00AM
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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 collaborate to solve
the multi-scalar multiplication (MSM) and number-theoretic
transform (NTT) operations, which are prerequisites ZK
computations. Shoumo Chu, a Manta Network Co-founder and Core
Contributor, clarifies, “We have chosen to be the architect and
sponsors in the open division because we truly care about WASM ZKP
performance. We view the WASM ZKP performance as the ‘last mile
problem’ for mass ZKP adoption. In order to get massive ZKP and
privacy adoption, we have to get ZKP prover integration with
popular wallets, and having improved WASM, prover performance is
the way forward.” Competition To Accelerate Zero-Knowledge
Development The ZPrize competition is an open-to-all competition
with $7 million in awards to raise awareness and accelerate the
advancement of Zero-Knowledge technology to facilitate a wide range
of use cases. There are several categories in the ZPrize
competition, each catering to different aspects of advancing
Zero-Knowledge technology. Several companies, funds, and
foundations are sponsoring the ZPrize competition. These
organizations include 0xPARC, Aleo, The Algorand Foundation, Aztec
Protocol, Anoma, CoreWeave, Celo, DZK, Ethereum Foundation,
Espresso Systems, Findora, Harmony One, Manta Network, Kora, Mina
Protocol, Polychain Capital, Polkadot Pioneers Prize, Polygon,
RISC0, Trapdoor Tech, and Zero Knowledge Validator. In this
competition, participants will build open-source projects that
benefit the blockchain world as a whole while competing for cash
prizes. The primary goal of the ZPrize competition is to increase
awareness of zero-knowledge cryptography’s potential while
improving the performance of key general algorithms and increasing
the diversity and availability of low-level libraries for
cryptographic proofs. According to Alex Pruden, the COO of Aleo
& Founder of the ZPrize initiative, “The sponsors of ZPrize not
only represent an industry but a united community of believers in
this technology. We share a collective desire to turn these
exciting academic ideas into a deployed reality. With the ZPrize,
we’re advancing the state-of-the-art to form the bricks of the
technological foundation that will scale and secure the
next-generation web.”
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