As a seasoned researcher with years spent delving into the intricacies of blockchain technology and its potential applications, I find the launch of NEBRA’s Universal Proof Aggregation (UPA) solution to be an exciting development. The crypto industry has long been seeking solutions that can address scalability issues without compromising privacy, and UPA seems to be a promising step in that direction.
NEBRA, a platform specializing in zero-knowledge proofs, recently introduced their Universal Proof Aggregation system. This innovative solution aims to extend the advantages of zero-knowledge proof (ZKP) validation to the cryptocurrency sector.
As a researcher, I am excited to be working with NEBRA UPA, a groundbreaking protocol that recently went live on Ethereum (ETH). This innovative system harnesses zero-knowledge proofs to create a single comprehensive proof, providing cost-effective verification directly on the chain. The design of UPA is geared towards enhancing scalability and privacy across various blockchains through a technique called proof aggregation. According to a press release from the NEBRA team, which I had the opportunity to review, this is their strategy for boosting scaling and ensuring privacy in the blockchain ecosystem.
“Significant bottlenecks in data flow and high expenses associated with verification pose significant hurdles, limiting the full potential of Zero-Knowledge Proof (ZKP) technology. However, with NEBRA UPA, ZKP is no longer a concept for tomorrow – it’s a practical solution being utilized today.”
Shumo Chu, co-founder and chief executive officer of NEBRA.
A solution for zkEVMs and RaaS protocols
As a crypto investor, I’ve found that technologies thriving with UPA’s innovation span across several areas. These range from zero-knowledge virtual machines and co-processors, to roll-up-as-a-service platforms, and even consumer applications. Essentially, any project leveraging UPA’s solution could potentially yield significant benefits.
An example of the latter is the WorldCoin (WLD) project, which taps into ZKP for its orb to verify a user is a unique human. The project’s World App uses this technology for identity proof without revealing information. Other notable projects in the ZKP ecosystem include Polygon zkVM, ZK Sync, and Starknet.
The issue of cost
The high costs associated with Zero-Knowledge Proofs (ZKPs) could be a barrier, but UPA aims to lower these costs drastically. For Ethereum, the cost is expected to drop from $20 to just $2, and for layer-2 solutions, it’s proposed to decrease from $2 to as low as $0.2. This substantial reduction in ZKP costs could greatly benefit everyday crypto applications like buying coffee, by making them more accessible and affordable for developers. This affordability is likely to boost the adoption of decentralized applications.
“Would someone be interested in spending $20 for a Zero-Knowledge (ZK) proof concerning a cup of coffee? However, when the price drops significantly to just pennies, an array of opportunities arise for creating decentralized apps.”
-Nebra co-founder Yi Tong.
NEBRA has amassed a total of $4.5 million in investments from crypto venture capitalists, such as Andreessen Horowitz, Bankless Ventures, and Nascent. Their goal is to implement UPA v2 on leading Layer 2 platforms, thereby enabling more decentralized applications (dApps) to reap the cost savings associated with utilizing zero-knowledge proofs (ZKPs) on-chain.
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2024-08-15 22:00