Manta Network is a blockchain solution provider designed to develop zero-knowledge (ZK) applications. It comprises two blockchains – Manta Pacific, a Layer 2 solution on Ethereum for scalable ZK applications, and Manta Atlantic, a Layer 1 chain in Polkadot for programmable identities and credentials.

Manta Network stands out from other traditional blockchains as it provides solutions to both Layer 1 and Layer 2 ecosystems. With its primary focus on enhancing privacy and security, the two solutions are interoperable, providing enhanced scalability and speedier transactions compared to traditional blockchain solutions.

Manta Network offers a wide range of features which include:

• High scalability and low fees: The Manta Network is designed to handle a large number of transactions per second, making it highly scalable. The platform offers high scalability with low gas fees, a feature that appeals to Web3 developers. 

• Dual blockchain: The Manta Network applies a dual-blockchain mechanism, with Manta Pacific and Manta Atlantic ensuring scalability and high speed.

• Interoperability: Manta Network facilitates seamless transactions and communications between blockchain ecosystems and acts as a cross-chain between Manta Pacific and Manta Atlantic.

• MANTA token: MANTA token powers the platform and serves as the utility and governance token, facilitating all transactions within the Manta ecosystem. MANTA token holders also get to participate in the network’s governance.

• Growing ecosystem: The platform supports various applications, such as DeFi, gaming, and social media.

MANTA is a new crypto that was launched in January 2024. MANTA is currently ranked 159 (as of June 2024) as per CoinMarketCap’s market capitalization-based classification. Given the short lifespan of the MANTA token, it is too early to speculate on the future of the token. However, with Ethereum’s rollup-focused roadmap for 2024, and upgrades planned to the Manta Network, investors are bullish that the token will grow in value.

The MANTA token has several utilities, let’s explore some of them: 

• The MANTA token is the native currency of Manta Network, which facilitates peer-to-peer transfers and transactions within the platform.

• Investors can buy and HODL the MANTA token to gain from price fluctuations.

• Crypto investors can also trade the MANTA token on platforms like CoinSwitch. 

• The MANTA token holders enjoy governance rights. They can participate in decisions concerning the network’s upkeep and other governance decisions.

• Staking MANTA enables users to earn tokens as a reward for securing the network.

• Utilizes zero-knowledge proofs for anonymous transactions.

• Higher transactions per second with low fees. 

• Cross-chain compatibility with different blockchains.

• Fully decentralized and follows a community-driven decision-making model.

• Being a relatively new project, price prediction for MANTA tokens is difficult.

• Like other cryptos, MANTA token is vulnerable to market volatility. 

• Manta Network is a privacy-focused project that could bring it under regulatory scrutiny.

• You can invest in MANTA on CoinSwitch with as low as ₹100. 

• CoinSwitch’s user-friendly interface makes it the perfect platform to buy MANTA, especially for beginners. 

• Users can manage transactions and portfolios seamlessly.

MANTA was launched in January 2024 though the project was conceived in 2020. In its first round of funding, the platform raised $1.1 million in 2021, followed by four more funding rounds that brought its net funding to $60M. The leading investors in the Manta Network include Polychain Capital, Qiming Venture Partners, Alliance, CoinFund, and SevenX Ventures, not to mention earlier investments from Binance Labs. As per a report in July 2023, P0x Labs, the team behind Manta Network, announced a $500 million valuation after a $25 million Series A funding round.