Why Buy Manta (MANTA)?
Buying in Manta (MANTA) might be wise for those who believe in the future of Layer 2 blockchain technologies for scalability. These solutions enable a smooth and cost-effective use of decentralised applications (dApps). MANTA token was distributed via an airdrop in January 2024 to users who had interacted with the network in the preceding months. Its price jumped from about $0.3 to nearly $4 in just a few days.
To decide if Manta is worth buying, consider it serves as the governance token within this multi-modular ecosystem comprising two blockchains. Holding MANTA grants the right to vote on protocol improvement proposals.
Despite its recent launch, MANTA has already entered the top 10 blockchains by total value locked inside (TVL), with exponential growth over recent months. As of February 2024, around $500 million worth of cryptocurrencies are deposited on Manta, a stark increase from nearly zero in October 2023.
What Is Manta and How Did It Originate?
Manta (MANTA) is a multi-modular blockchain with two networks that leverage zero-knowledge rollup technology. This cryptographic model allows validators to agree on the correctness of transactions without revealing all data every time, making transaction processing faster and more cost-effective.
Manta’s journey began with Atlantic, a swift Layer 1 network built on Polkadot, followed by Pacific, a highly scalable EVM-compatible Layer 2 network. Additionally, Manta utilises Celestia for data access, reducing the cost of transactions on this network.
Based in Boston, Massachusetts, the project was founded in 2020 and quickly attracted significant investor interest. Manta has raised around $60 million from some of the most prominent venture capitals in the crypto world, such as Polychain and Binance Labs. The three co-founders are Victor Ji, Kenny Li, and Shumo Chu.
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