Summary: Bitcoin, web3, Ethereum, and cryptocurrency
- NEBRA launches Universal Proof Aggregation solution for ZKP verification in the crypto industry.
- UPA protocol on Ethereum offers cost-effective on-chain verification through proof aggregation.
- Benefits include boosting scaling, privacy, and reducing costs for ZKP technology.
- NEBRA secures $4.5 million in funding from crypto venture capital firms.
- Plans to deploy UPA v2 to top L2s for reduced costs in on-chain ZKP use.
Zero-knowledge Proofs Platform NEBRA
NEBRA introduces its Universal Proof Aggregation (UPA) solution, leveraging zero-knowledge proofs to enhance verification efficiency in the cryptocurrency sector. The UPA protocol, live on Ethereum, streamlines on-chain verification processes through proof aggregation, aiming to enhance scaling and privacy across various blockchains.
Benefits of UPA for zkEVMs and RaaS Protocols
Protocols and projects, including zero-knowledge virtual machines, co-processors, roll-up services, and consumer applications, can leverage UPA’s solution to capitalize on the benefits of ZKP technology while reducing costs. Notable projects like WorldCoin are utilizing ZKP for unique human verification and identity proof without compromising privacy. The implementation of UPA lowers the cost of ZK proofs significantly, fostering wider adoption and innovation in decentralized applications.
Addressing the Issue of Cost with UPA
While ZKP costs may pose challenges, UPA aims to drastically reduce these expenses, making ZK proof transactions more affordable. The platform envisions cutting costs on Ethereum and layer-2 solutions from $20 to $2 and $2 to $0.2, respectively. With reduced costs, developers can explore new possibilities for creating decentralized applications, driving increased adoption and usability within the crypto landscape.
