Outside Source
Zero-knowledge proofs platform NEBRA has launched its Universal Proof Aggregation solution, bringing the benefits of ZKP verification to the crypto industry.
NEBRA UPA, which went live on Ethereum (ETH), is a protocol that combines zero-knowledge proofs into a single proof to offer cost-effective on-chain verification. The UPA protocol is designed to boost scaling and privacy across blockchains through proof aggregation, the NEBRA team said in a press release shared with crypto.news.
“Low throughput and the high cost of verification are major obstacles preventing applications from taking full advantage of ZKP technology. But with NEBRA UPA, ZKP is no longer a dream for the future – it is a solution that is available and being used right now,”
Shumo Chu, co-founder and chief executive officer of NEBRA.
A solution for zkEVMs and RaaS protocols
Protocols and projects that benefit from UPA’s solution include zero-knowledge virtual machines, co-processors, roll-up as a service solutions, and consumer applications.
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
ZKP costs can be prohibitive, but UPA looks to cut this from $20 to $2 for Ethereum and from $2 to $0.2 for layer-2 solutions. The significant reduction in the cost of a ZK proof for everyday crypto use cases, such as buying coffee, will empower developers and add to adoption across decentralized applications.
“Who wants to pay $20 for a ZK proof for a coffee purchase? But when the cost falls to mere cents, innumerable possibilities open up for developing decentralized applications,”
-Nebra co-founder Yi Tong.
NEBRA has raised a total of $4.5 million in funding from crypto venture capital firms, including Andreessen Horowitz, Bankless Ventures, and Nascent. The platform plans to deploy UPA v2 to top L2s to allow more dApps to tap into the benefits of reduced costs for on-chain ZKP use.
This article first appeared at crypto.news
