In an effort to address privacy concerns within the realm of cryptocurrencies, Manta Network, a layer-1 blockchain operating on Polkadot, has joined forces with Linea, a rollup-based scaling solution. Together, they aim to provide users with zero-knowledge soulbound tokens (zkSBT) to maintain user privacy while interacting on blockchain platforms.
The core issue that this partnership aims to resolve is limiting verification to specific on-chain activities, instead of sharing all data with an application. According to Manta Network co-founder Victor Ji, users will not be required to complete know-your-customer screenings; they can simply verify their identity using Manta’s zkSBT solution.
Initially proposed by Ethereum co-founder Vitalik Buterin, Soulbound Tokens function similarly to NFTs, with the primary difference being their non-transferable nature and association with a person’s identity or an entity. zkSBTs have the potential to be utilized in various applications, such as medical records or certificates.
Starting today, users are granted the ability to mint zkSBTs through Manta Network’s NFT Private Offerings (NPO) platform, provided they have completed one of the two Linea NFT campaigns. Using Linea’s zkPioneer and a unique Manta innovation called Proof Key, these innovative tokens will offer users a decentralized, trustless, and private method of verifying their real identities without the risk of compromising any information about their on-chain activity. Web2 or Web3 applications, whether on mobile or desktop, will be able to verify users’ information without needing to establish a connection to a wallet.
Victor Ji believes that as of now, mobile users experience the most significant drawbacks in the realm of cryptocurrencies and focuses on enhancing their experience for socialFi and GameFi applications. Ji acknowledges that potential private data leakage could be a risk but insists that assets on EVM addresses will remain secure.
The broader discourse surrounding the feasibility of absolute digital privacy in the current online landscape is worth consideration. However, Ji asserts that absolute privacy may not be necessary. Instead, providing excellent user experience for specific privacy use cases is far more valuable than offering a fully private smart contract platform with poor interoperability. The partnership between Manta Network and Linea thus marks a significant milestone in addressing the ongoing concerns of data privacy within cryptocurrency projects.
Source: Decrypt
