We're building an interoperable, privacy-preserving decentralized exchange.
The problem we see today is that exchanges lack privacy, interoperability, and usability, which trickles down into many other issues. That's why we're building Manta Network, an interoperable and privacy-preserving decentralized exchange. We're building it as a layer-1 solution, which means that privacy will exist in the core architecutre, rather than a feature sitting on top of another blockchain. By using Substrate, we can take advantage of the interoperable ecosystem that Polkadot brings. If you want to learn more, read our article: An Introduction of Manta Network.
We are able to do this through a process called minting. Long story short, a user can initiate a coin-minting transaction by depositing a base coin (e.g., Polkadot). The Manta Network receives the deposit and generates a privacy-preserving version of it (e.g., private-Polkadot). To get more of the details of how this is executed, request a copy of our white paper.
We believe that Polkadot’s blockchain will deliver a greater overall user experience for DeFi than Ethereum can currently deliver. Architecturally, we need a fast runtime, fast consensus, and interoperability--all of which are not offered by Ethereum 1.0. For example, the current consensus on Ethereum, proof-of-work, impacts the speed of block generation, which is necessary for writing transactions to the blockchain. That translates into a slower, less-than-optimal user experience. To learn more about our choices, read about it in our post: Manta's Architectural Design Choices.
