On September 12th, the blockchain project Manta Network, backed by Polychain Capital and Binance Labs, announced the launch of the Manta Pacific Layer 2 on the mainnet. This development allows for the deployment of applications supporting ZK technology.
Manta Pacific is known to be a Layer 2 solution that is EVM-compatible and incorporates Zero-Knowledge (ZK) technology, enhancing user data privacy. Additionally, this Layer 2 solution utilizes the Data Availability Layer from Celestia to bolster security and reduce fees. Moreover, scalability will be supported through Optimism’s OP Stack via the streamlined solution known as Caldera.
“After a successful testnet phase, Manta Pacific will leverage the Data Availability Layer from Celestia to provide on-chain interactions with lower costs compared to other L1 and L2 solutions.”
- Kenny Li, core developer of Manta Network
The testnet phase of Manta Pacific was deemed successful, recording 4 million transactions and the participation of 150,000 wallet addresses. Several on-chain applications such as zkHoldEm, zkMe identity solution, and zkPass data verification were also part of this success story.
Prior to this, in July 2023, Manta Network successfully raised $25 million in its Series A funding round, led by Polychain Capital and Qiming Venture Partners. This funding round elevated the project’s total valuation to $500 million.