Zero-Knowledge Proof Powered Layer-2 Blockchain Manta Network Faces DDoS Attack

The current valuation of the blockchain is approximately $2.3 billion.

Manta Network is hit by a DDoS attack as it gets listed on an exchange.

Image Source: Kenny Li

The recent listing of tokens on multiple exchanges was supposed to be a victorious moment for Manta Network, a layer-2 blockchain powered by zero-knowledge proof technology. However, things took a bit of a detour when the network experienced a widespread distributed denial-of-service (DDoS) attack. Let’s dive into the details of what occurred and what this means for the network and its users.

The DDoS Attack

According to Kenny Li, co-founder of p0x labs, the cryptographic development team behind Manta Network, the blockchain’s nodes were bombarded with over 135 million remote procedure call (RPC) requests on January 18. This aggressive and timed attack put a strain on the network, limiting communication between apps and the blockchain. However, Li assured the community that the blockchain itself was running safely, with user funds remaining secure.

In response to the attack, Li expressed gratitude for the community’s support, emphasizing that Manta Network has been in development for three years and is determined to continue its mission.

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Token Listing and Market Performance

Despite the DDoS attack, Manta tokens successfully commenced trading on various exchanges, including Binance, Bithumb, and Kucoin. The current value of a single Manta token stands at $2.27, resulting in a fully diluted market cap of $2.27 billion. In the initial hours of trading, more than $686 million worth of Manta tokens changed hands, indicating strong investor interest.

Building Momentum: Series A Funding Round and Testnet

p0x labs, the team behind Manta Network, recently concluded its Series A funding round, securing a substantial $25 million. This injection of capital will undoubtedly fuel further development and expansion of the Manta ecosystem. Additionally, the team launched the testnet for their layer-2 infrastructure, known as Manta Pacific, which successfully transitioned to the mainnet on September 12, 2023. The testnet launch in July 2023 witnessed the creation of 150,000 wallets and over 3.5 million transactions, demonstrating the network’s scalability and popularity.

Manta Atlantic: Nonfungible Tokens and Partnerships

In April 2023, Manta Atlantic unveiled its flagship nonfungible token (NFT) private offering platform. Since then, this platform has minted over 300,000 zero-knowledge soulbond tokens in collaboration with prominent ecosystem partners, including Arbitrum, Galxe, Linea, and CyberConnect. The success of the NFT platform further solidifies Manta Network’s position as an innovative force within the blockchain space.

Q&A: Addressing Additional Topics

Q: What security measures are being implemented to prevent future DDoS attacks on Manta Network? A: While the recent DDoS attack caused temporary communication limitations, the Manta Network team is diligently working on enhancing security measures to prevent similar incidents in the future. These measures include improved network monitoring, threat detection, and partnership collaborations to bolster the network’s resilience.

Q: What are the advantages of zero-knowledge proof technology in the context of Manta Network? A: Zero-knowledge proof technology enables Manta Network to ensure the privacy and confidentiality of transactions while maintaining transparency and security. This cutting-edge technology allows users to prove the validity of their statements without revealing any sensitive information, making Manta Network an attractive solution for various industries that require privacy and trust.

Q: How does Manta Network compare to other layer-2 blockchains? A: Manta Network stands out among layer-2 blockchains due to its emphasis on zero-knowledge proof technology. While other layer-2 solutions may focus on different scaling methodologies, Manta Network harnesses the power of zero-knowledge proofs to provide enhanced privacy features and improved efficiency, making it a strong contender within the blockchain ecosystem.

Expert Analysis and Future Outlook

The DDoS attack experienced by Manta Network showcases the challenges even well-established blockchain projects face in terms of security and stability. However, the team’s ability to navigate through this attack and maintain the integrity of the blockchain demonstrates their expertise and commitment to the project’s long-term success.

Moving forward, the improvements resulting from the Series A funding and the successful launch of Manta Pacific’s mainnet have positioned Manta Network for growth. With a solid market response indicated by the significant trading volume and market capitalization, Manta Network has laid a strong foundation for future development and expansion.

As the network continues to evolve and establish strategic partnerships, we can expect to witness innovative solutions and new applications built on zero-knowledge proof technology. The unique features and capabilities of Manta Network have the potential to disrupt various industries and drive further adoption of blockchain technology.

References

1. [Twitter – @superanonymousk: DDoS attack on Manta Network](https://twitter.com/superanonymousk/status/1747968680686993800)
2. Cyber Magazines – p0x labs raises $25 million in Series A funding
3. Awesome Linking – Testnet launch of Manta Pacific
4. Cyber Magazines – Manta Atlantic’s NFT private offering platform
5. Blocking.net – Article on Manta Pacific’s scaling solution

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That’s it for our deep dive into the world of Manta Network and their recent DDoS attack. What are your thoughts on this incident? Let us know in the comments below! And don’t forget to share this article with your friends on social media. Together, we can explore the exciting realms of blockchain technology! 💪🌐😄

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