Kenny Li, a key member of Manta Network, talks about the future of modularity, decentralization, and more in episode 308.

Kenny Li, Key Contributor at Manta Network, Explores the Importance of Modularity for the Longevity of a Web3 Project

The Future of Modularity, Decentralization, and More: Insights from Kenny Li of Manta Network

By Sead Fadilpašić – Last updated: February 13, 2024 11:51 EST | 6 min read

In a recent episode of the Blocking.net Podcast, host Matt Zahab had an insightful conversation with Kenny Li, Core Contributor at Manta Network, a privacy-preserving protocol based on Polkadot. Li shared his expertise and thoughts on various topics, including the future of modularity, user experience, cross-chain interoperability, and decentralized applications (dapps). So, let’s dive into the highlights of this intriguing discussion and explore what Manta Network has to offer.

🎙️ The Future of Modularity and Secure Transactions

Li discussed how modularity will revolutionize the blockchain space. He emphasized the importance of modular execution, which can enhance security, lower costs, and expedite transaction flow. Just like building with Lego blocks, modular execution allows for flexible integration of specialized services and technologies. Li humorously mentioned that modularity is the new favorite buzzword, replacing the previous craze for ZK technology. By adopting a modular approach, blockchain projects can continuously adapt to the evolving needs of the Web3 space.

🎮 User Experience Takes Center Stage

In the context of Layer 2 (L2) solutions, Li emphasized the significance of user experience (UX). Manta Network aims to optimize user engagement by focusing on improving UX in their L2 framework. By simplifying adoption and enabling both developer experience (DevEx) and UX, Manta Network aims to make blockchain more user-friendly and accessible to a wider audience. Li believes that UX is a key driver for the widespread adoption of blockchain applications.

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🌐 Cross-Chain Interoperability and Diverse Functionality

Discussing the future of blockchain, Li highlighted the need for cross-chain interoperability and the development of decentralized applications (dapps) with diverse functionality. Manta Network aims to revolutionize cross-chain interoperability, enabling seamless transactions and interactions across different blockchain networks. With over 180 ecosystem projects deployed on their L2 platform, Manta Network stands out as a major player in the space.

🌟 Manta Network’s Remarkable Success

Since its official launch in September 2023, Manta Network has experienced rapid growth and garnered significant attention. As the third-largest Ethereum L2 solution, behind Optimism and Arbitrum, Manta Network has already deployed numerous ecosystem projects and saved users millions in gas fees. This success can be attributed to the dedicated team’s hard work, relentless marketing efforts, and innovative technology.

💰 Yield-bearing Assets: A Value Proposition

Li acknowledged the value of yield-bearing assets in the blockchain space. Inspired by the success of Ethereum L2 project Blast, which introduced native yield for ETH and stablecoins, Manta Network launched its own yield-bearing asset campaign called New Paradigm. This campaign has gained significant traction and offers exciting value propositions for users. Li praised Blast’s achievements and believes that integrating yield-bearing assets within L2 solutions can create new opportunities for users.

🏛️ Modular Approach and Adaptability

Li emphasized the importance of taking a modular approach to blockchain architecture. By integrating specialized services and technologies into their systems, projects like Manta Network can continually improve and adapt over time. This approach allows Manta Network to stay powerful and relevant as the Web3 space evolves. Li highlighted the limitations of monolithic blockchains, such as Bitcoin and Ethereum, which hinder their ability to adapt and incorporate new technologies.

📊 Technology vs. Product: The User is Key

While blockchain technology is often the focus, Li emphasized the importance of the end product and its value proposition to users. Manta Network prioritizes user needs and thoroughly considers the benefits of any potential partnerships or integrations. Li explained that an amazing technology does not necessarily translate into an amazing product. To succeed, projects must clearly demonstrate the value they bring to users.

🙌 Looking Ahead

As the blockchain space continues to evolve, Li believes that adaptability and the ability to integrate new technologies will be crucial for success. Taking a modular approach will allow projects like Manta Network to keep up with the changing landscape and offer continuous value to users. By prioritizing user experience, cross-chain interoperability, and modular execution, Manta Network is well-positioned to thrive.

📺 Watch the Full Episode with Kenny Li here

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Q&A: Addressing Readers’ Additional Questions

Q: How does modularity enhance security in blockchain transactions?

A: Modularity enhances security by allowing projects to integrate specialized security services and technologies into their systems. By building on a foundation of trusted and proven components, projects can fortify their overall security posture. This modular approach enables a more robust and adaptable security framework.

Q: Can you explain the concept of cross-chain interoperability?

A: Cross-chain interoperability refers to the ability of different blockchain networks to communicate and interact with each other. It enables seamless transfer of assets and data across multiple blockchains, promoting interoperability and expanding the functionality of decentralized applications. Cross-chain interoperability is crucial for realizing the full potential of blockchain technology and achieving a connected, decentralized ecosystem.

Q: How does Manta Network ensure user privacy?

A: Manta Network prioritizes user privacy by leveraging the privacy-preserving capabilities of the Polkadot-based protocol. Through zero-knowledge proofs (ZKPs) and other cutting-edge cryptographic techniques, Manta Network allows users to transact and engage with decentralized applications while preserving their privacy. By providing a secure and private environment, Manta Network empowers users to interact with blockchain technology without compromising their personal data.

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🚀 The Future Holds Promise

Blockchain technology has come a long way, and projects like Manta Network are leading the way towards a more modular, user-friendly, and interconnected ecosystem. By embracing modularity, prioritizing user experience, and enabling cross-chain interoperability, Manta Network is poised for continued success in the blockchain arena. Stay tuned for more exciting developments in this space!

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References:

1. Manta Network
2. Polkadot
3. Blocking.net Podcast
4. Celestia: Modular Data Availability Network

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