BOSTON, MA / ACCESSWIRE / April 7, 2022 / Manta Network, the privacy hub for Web3, is proud to announce its official partnership with Axelar for bridging crypto assets to privatize within Manta Network's L1 privacy solution. Axelar is the universal overlay network, securely connecting all blockchain ecosystems, applications, assets and users to deliver Web3 interoperability. This strategic partnership will enable privacy for assets on other chains, including Ethereum, Polygon, Avalanche and Terra.
By bridging over the Axelar network, Manta Network will be able to privatize crypto assets from networks and dapps existing beyond the Polkadot ecosystem. Leveraging this access, Manta Network intends to expand the adoption of its ZKP privacy technology to the entire Web3 ecosystem of projects and networks.
"On our mission to bring privacy to Web3, we are focusing on broadening Manta Network's privacy capabilities to other chains and projects," said Shumo Chu, Co-founder and core contributor to Manta Network. "Axelar's decentralized bridge provides an excellent solution for us. They achieve decentralization, high performance, and security at the same time. Their bridge-hub design (instead of P2P bridge) can bridge Manta to a wide variety of chains. I have been working with Axelar founders during my time at Algorand. I have a lot of confidence in their engineering team's execution, which is exceedingly important to bridge security."
"Allowing developers like Shumo and the Manta Network team to focus on their core functionality, and build on the blockchain that is best for their users' needs, is what Axelar is all about," said Sergey Gorbunov, CEO and Co-founder of Axelar. "Manta Network has taken a leadership position in Web3 security and we look forward to seeing that value proposition extend across chain."
About Manta Network
Manta Network is committed to building a better Web3 world through privacy protection. Manta's product design starts from first principles and provides end-to-end privacy protection for blockchain users through leading cryptography architectures such as zkSNARK. While ensuring privacy, Manta offers interoperability, convenience, high performance, and auditability, allowing users to conduct private transfers and transactions between any parallel chain of assets. Manta's vision is to provide more convenient privacy protection services for the entire blockchain world.
Manta's founding team is made up of several cryptocurrency veterans, professors and academics with experience from Harvard University, MIT and Algorand. Manta's investors include Polychain, ParaFi, Binance Labs, Multicoin, CoinFund, Alameda, DeFiance and Hypersphere. Manta is also an official Web3 Foundation grant recipient, a member of Substrate Builder Program, and a member of Berkeley Blockchain Accelerator.
Axelar is the universal overlay network, securely connecting all blockchain ecosystems, applications, assets and users to deliver Web3 interoperability. Axelar goes beyond pairwise services, supporting general message passing and composability of programs across all blockchain ecosystems. Developer tools and APIs make it easy for both protocol and application developers to integrate interoperability. Axelar has raised capital from top-tier investors, including Binance, Coinbase Ventures and Polychain Capital. Partners include major Layer-1 blockchains, such as Avalanche, Cosmos, Ethereum, Polkadot and Terra. Axelar's co-founders are founding team members of Algorand and award-winning graduates of MIT, where they received notable recognition as part of their graduate studies.
SOURCE: Manta Network
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