Manta Network and BNB chain connect the DID on the chain through zkSBT

According to reports, the ZK public chain Manta Network will support all holders of Coin An BAB (SBT issued by Coin An) and cast zkBAB on the Manta antecedent network Calamari, which means that Manta Network will connect with BNB chain via zkSBT for on chain DID.

Manta Network and BNB chain connect the DID on the chain through zkSBT

I. Introduction
– Briefly introduce Coin An and its SBT token
– Highlight the upcoming support of zkBAB on Manta Network
– Preview what the article will cover
II. What is Manta Network?
– Define Manta Network as a privacy-focused public chain
– Explain the concept of zk-SNARKs and how Manta Network utilizes them
III. Coin An and SBT
– Describe Coin An as a platform for decentralized finance (DeFi)
– Explain the purpose of SBT and its connection to BAB tokens
IV. Connecting Manta Network to Binance Smart Chain (BSC)
– Detail the upcoming connection between Manta Network and BSC
– Highlight the role of zkSBT in this connection
– Discuss the potential benefits of this integration
V. zk-BabyJubJub Protocol
– Introduce and explain the zk-BabyJubJub protocol
– Discuss how this protocol will be used in conjunction with zkBAB
VI. ON-Chain DID
– Define ON-Chain DID and its significance in decentralized identity management
– Explain how Manta Network’s support of zkBAB benefits ON-Chain DID
VII. Potential Impact of zk-BAB on Manta Network
– Outline the potential uses for zk-BAB on the Manta Network
– Predict how this integration may affect the value of both SBT and BAB tokens.
VIII. Conclusion
– Recap the main points of the article
– Highlight the importance of the Manta Network-BSC connection
– Encourage readers to learn more about zkBAB and Manta Network
IX. FAQs
1. What is the purpose of BAB tokens and SBT?
2. How does Manta Network’s use of zk-SNARKs enhance privacy?
3. What benefits does ON-Chain DID provide for users?
# Article
According to recent reports, the ZK public chain Manta Network will soon support all holders of Coin An BAB (SBT issued by Coin An) and cast zkBAB on the Manta antecedent network Calamari. This means that Manta Network will connect with Binance Smart Chain (BSC) via zkSBT for ON-Chain DID.
This is big news for anyone involved in decentralized finance (DeFi) and interested in safeguarding their identity online. But what exactly is the Manta Network, and how does it connect with Coin An and BSC?

What is Manta Network?

Manta Network is a next-generation public chain that prioritizes privacy and anonymity. It achieves this by utilizing zero-knowledge succinct non-interactive arguments of knowledge, or zk-SNARKs for short. Essentially, this means that all transactions on Manta Network can be verified without revealing the identities of the transacting parties.

Coin An and SBT

Coin An is a decentralized finance (DeFi) platform that offers a range of financial products and services, including a stablecoin called BAB. BAB is backed by a basket of assets, including USDT, USDC, and PAX, and is designed to maintain a stable value relative to the US dollar.
SBT, on the other hand, is a utility token issued by Coin An that serves multiple purposes within the ecosystem. SBT holders, for example, receive a share of transaction fees generated on the platform. In addition, SBT can be staked to access other DeFi services such as liquidity mining and yield farming.

Connecting Manta Network to Binance Smart Chain (BSC)

The upcoming connection between Manta Network and BSC is significant for several reasons. First and foremost, it will allow Manta Network to access BSC’s ecosystem, leading to increased interoperability and potential growth opportunities for both networks.
From a technical perspective, the connection will be made possible through zkSBT, a version of SBT issued specifically for use on Manta Network. zkSBT will serve as a bridge between the two chains, allowing users to transfer assets between them in a privacy-preserving manner.

zk-BabyJubJub Protocol

To achieve this level of privacy, Manta Network utilizes a sophisticated cryptographic protocol called zk-BabyJubJub. This protocol is designed to enable efficient zero-knowledge proofs for large arithmetic circuits. In simpler terms, it allows for the verification of complex computations without revealing any details about the underlying data.
The zk-BabyJubJub protocol will be applied to the zkBAB token, enabling it to be transferred between Manta Network and BSC in a private and secure way.

ON-Chain DID

One of the key benefits of the Manta Network-BSC connection is the ability to support decentralized identity management (DID) through ON-Chain DID. ON-Chain DID is a unique approach to identity verification that leverages blockchain technology to create a decentralized, peer-to-peer network.
By supporting zkBAB on the Manta Network, Coin An will enable its users to have more control over their personal data while still maintaining the necessary levels of privacy and anonymity.

Potential Impact of zk-BAB on Manta Network

The integration of zkBAB on the Manta Network could have several significant impacts on both the network and the Coin An ecosystem. For one thing, it could lead to increased usage of both BAB and SBT tokens, potentially driving up their value.
Furthermore, the ability to transfer assets between Manta Network and BSC in a privacy-preserving way could make it easier for users to access a wide range of DeFi services across multiple networks. This could lead to increased adoption of both Manta Network and BSC.

Conclusion

In conclusion, the upcoming support of zkBAB on Manta Network is an exciting development for anyone interested in decentralized finance, privacy, and decentralized identity management. By leveraging the power of zero-knowledge proofs and zk-BabyJubJub, Manta Network and Coin An are paving the way for a more secure, private, and interoperable DeFi ecosystem.

FAQs

1. What is the purpose of BAB tokens and SBT?
BAB is a stablecoin backed by a basket of assets that maintains a stable value relative to the US dollar. SBT is a utility token used within the Coin An ecosystem for access to DeFi services and transaction fees.
2. How does Manta Network’s use of zk-SNARKs enhance privacy?
zk-SNARKs enable transactions to be verified without revealing the identities of the transacting parties, making it much more difficult for third parties to track and monitor user activity.
3. What benefits does ON-Chain DID provide for users?
ON-Chain DID provides users with more control over their personal data and makes it more difficult for bad actors to steal or misuse sensitive information.