Exploring Mantle's Revolutionary Data Infrastructure

A rising startup called Mantle is aiming to be the data infrastructure that powers the next generation of web3 applications. Mantle provides a development platform and APIs that allow crypto developers to build with real-world data easily.

Decentralizing Data for Web3 With User Control

Web3 promises a more open, decentralized internet where users control their own data and

identity. However, most applications today rely on centralized servers and databases. This makes them prone to hacking, censorship, and lack of interoperability.

Mantle wants to change that by allowing web3 apps to leverage secure and verifiable off-chain data. The company is developing a data marketplace where users and organizations can permission the use of their data in a trusted manner compliant with regulations.

For example, a crypto lender could use income or employment data to underwrite loans in a decentralized finance (DeFi) application. Or NFT marketplaces could verify the credentials of digital artists and creators through data integrations.

Mantle uses a decentralized identity system that gives users control over their personal information. Users connect their identities and wallets to Mantle once and can then securely share encrypted data with apps in a few clicks.

Businesses and data providers are incentivized to share high-quality data feeds on Mantle through a token-powered marketplace. Strict controls enforced through cryptography guarantee their data is only used as agreed upon.

Multi-Layer Privacy Technologies to Decentralize Fintech

Mantle utilizes various technologies to secure off-chain data usage, including off-chain computing through distributed storage networks like IPFS, Filecoin, and Arweave. Zero-knowledge proofs allow verifying claims about data without exposing the underlying personal details; oracles through decentralized networks like Chainlink link blockchains to external real-world data feeds in a tamper-proof manner. By combining these technologies, Mantle provides the privacy-preserving data infrastructure needed to unlock the next generation of data-driven web applications.

The mantle is currently focused on decentralizing fintech, with integrations planned for all major layer 1 blockchains like Ethereum, Solana, and Polkadot. It raised a $40 Million funding round in 2022 from top crypto investors like 16Z Crypto.

Conclusion

The potential for Mantle’s data infrastructure is enormous, encompassing identity, compliance, analytics, and more. Mantle could provide the critical missing data layer that enables the Web3 vision of an internet owned by users rather than centralized entities. By allowing decentralized blockchain applications to leverage data in a confidential, controlled manner, Mantle opens the door to unprecedented utility and capabilities for web3, profoundly expanding what this next generation of the internet can achieve by putting users at the center of their own data.