Earlier this year, Polkadot, a blockchain network focused on interoperability, launched the Polkadot Pioneers Prize to attract new talent and accelerate the advancement of zero-knowledge (ZK) technology and the entire Polkadot infrastructure.
Through the Polkadot Pioneers Prize, Polkadot’s plug-and-play privacy protocol, Manta Network, joins 22 other ZK companies, funds and foundations. ZPrize – Industry-sponsored competitions to support the advancement of zero-knowledge technologies that underpin a variety of real-world applications.
In this context, manta network Nominated as Chief Designer for ZPrize’s “Open Division” competition. The “Open Division” competition focuses on projects designed to maximize throughput and minimize latency for ZK-based operations on client-side devices and blockchain-based virtual machines (VMs), more specifically WebAssembly (WASM) runtimes.
The Polkadot Pioneers Prize has donated 750,000 to this initiative overseen by the Manta Network and is an addition to ZPrize’s existing award pool for all open competitions. In addition to sponsoring and designing the “Open Division” competition, Manta Network will collaborate with other zero-knowledge projects to expand applications of zero-knowledge techniques by solving multiple scalar multiplication (MSM) and number theory transformation (NTT) tasks. .
According to Polkadot Pioneers Prize Curator, “By partnering with Zprize, Pioneers Prize curators can collaborate with Manta in a consortium of zero-knowledge research experts seeking to improve privacy and increase ZKP impact within the blockchain ecosystem. We believe Zprize and its challenges are a great first bounty to kick off the ZK category of the Pioneers Prize and will have a positive impact on the larger Polkadot community.”
New initiatives for the future of Polkadot
The Polkadot Pioneers Prize features a series of challenges across different categories. The first two categories cover the areas of zero-knowledge (ZK) research and overall Polkadot infrastructure improvement. To date, Polkadot has allocated approximately 993286.08 DOT ($20 million) for both categories.
Polkadot has a growing demand for its infrastructure, especially with its parachain popular among developers and projects. The platform’s recent Parachain slot auctions for Kusama (Polkadot’s sister chain) and Polkadot have been hugely successful. Additionally, several Polkadot-based projects have broken existing milestones in terms of community support and funding, as evidenced by the success stories of several crowdfunding initiatives.
Meanwhile, Manta Network, a Polkadot-based privacy protocol, has emerged as a potential solution that works in DeFi, Web3 and other blockchain-based fields. It leverages Polkadot’s unique capabilities along with advanced encryption technologies like Groth16 and zkSnarks to add a layer of privacy to the entire blockchain ecosystem.
Since zero-knowledge technology can be used to overcome privacy and scalability issues, particularly from an application perspective, Manta Network is leveraging it as a Web3-enabled plug-and-play solution to provide end-to-end anonymity and privacy along with faster throughput. do. , low latency and minimal cost.
As part of the Polkadot Pioneers Prize, the Manta Network will focus on finding and supporting promising talent who will help ZK technology fulfill a myriad of use cases. The additional 750K allocated by the Polkadot Pioneers Prize will help Manta unlock the as yet untapped potential of ZK, which will benefit both Polkadot and the broader blockchain ecosystem.