From torching computers to using Chernobyl radioactive dust, crypto gets another trusted setup. This time it’s his biggest.

P0xeidon Labs, the development team of Manta Network, today announced a trust installation ceremony that will be used to launch its private payment application.

MantaPay will allow users to send crypto privately to others Spotted– and Kusama-based networks using zkSNARK technology. Kusama is like a testnet for all things Polkadot.

The ceremony is expected to last up to two weeks and will feature around 5,000 attendees from 133 countries, making it the largest and most distributed trust setup in Web3 history, according to Manta Network.

Trust configurations are unique events in crypto and are performed to ensure that a newly launched privacy network can never be compromised. The members of a configuration randomly generate the cryptographic rules of a network (public parameters) and sometimes even destroy the machine on which these rules were created.

“We are seeing huge interest in participating in our trusted setup, around 5,000 signups so far. I think this indicates how critical privacy is to Web3, and the ecosystem recognizes that,” said Kenny Li, co-founder and COO of Manta Network. Decrypt.

Manta Network, which is developing its own layer-1 blockchain using Polkadot’s Nominated Proof of Stake (NPoS) consensus model, says it is building the future of Web3 with privacy, allowing users to perform private transactions between any parallel chain of assets.

As explained by the team, MantaPay will not have its own native token. However, there are plans to launch one for the Manta network.

Throw away Manta Network’s ‘toxic waste’

Manta Network’s trust setup will see ceremony participants, known as provers and verifiers, generate zero-knowledge proofs (ZKPs), which Manta Network says are core to its trust-preserving functionality. private life. This guarantees the validity of transactions without publishing any private information on the blockchain.

The prover and verifier will perform a complex computation, committing to a “shared secret” that will be used to generate public parameters. A shared secret is a set of verified private keys received by the prover and verifier.

Computing keys produces what cryptographers call “toxic waste” that must be discarded.

“Toxic waste could be described as secret numbers that would allow someone to produce fake ZKPs. Anyone who knows these numbers can produce tokens out of thin air in our protocol,” said Todd, a pseudonymous cryptographer at P0xeidon Labs. Decrypt.

According to them, “the reason for a trust installation ceremony is to break this waste into thousands of pieces and give each participant a piece. If you destroy your piece, an attacker will never be able to understand the toxic waste.

Trust configurations

Some notable examples of trust configurations in the blockchain space include Zcash (ZEC) in 2016. It was the first practical implementation of a zero-knowledge proof system, with NSA whistleblower Edward Snowden among those who helped launch the privacy coin.

Aleo, another project developing privacy tools for the web, had about 1,000 contributors at its ceremony in 2021.

US-sanctioned Ethereum mixing service Tornado Cash is considered to have led the largest trust setup before today. The ceremony ended with 1,114 attendees helping launch the platform in 2020.

As Vitalik Buterin, the co-founder of Ethereum, stated earlier this year, “To the extent that trust setup ceremonies are necessary, it’s important to remember that not all trust setups are 176 participants is better than 6, and 2,000 would be even better.

As Manta Network prepares to set a new record for trusted setups, the team behind the project pointed out that this was made possible thanks to the low participation requirement.

“The criteria is very low, we don’t have any hardware requirements because with ZKP it’s hardware independent. We support major operating systems including Ubuntu Linux, Apple and Windows OS,” Li said. Decrypt.

According to Li, as long as someone can follow the instructions of the ceremony, it is very easy to participate.

“There are a few steps involved in the signup process, and if you manage it, you can also complete the contribution phase once it has started,” he added.

Confidentiality as a fundamental value

User privacy remains key to Manta, with an anonymous setup participant stating that “Web3 is the frontier of new technologies and privacy is critical to building this infrastructure. I am concerned about the protection of personal data, especially financial information. Trust allows me to contribute to a future I believe in.”

The COO of Manta Network also pointed out that there is no financial incentive for participants in the trust installation ceremony, other than earning a non-fungible token (NFT) which proves that they have contributed and a Discord title in the community channel of Manta.

This makes setting up Manta Network’s trust a true community effort.

“Confidentiality is not just about keeping transactions secret; rather, it’s your entire on-chain identity: every app you interact with, every wallet you interact with, every data you save on the blockchain is permanent and publicly available,” Li said. Decrypt. “Without privacy solutions, blockchain becomes a massive surveillance tool.”

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