NEBRA Introduces Zero-Knowledge Proof Aggregator on Ethereum Blockchain
NEBRA, a platform specializing in zero-knowledge proofs, has recently introduced its Universal Proof Aggregation (UPA) solution, revolutionizing the verification process within the crypto industry. This innovative protocol, now operational on Ethereum (ETH), merges multiple zero-knowledge proofs into a single proof, offering a cost-effective means of on-chain verification. Through proof aggregation, the UPA protocol aims to enhance scalability and privacy across various blockchains, as highlighted by the NEBRA team in a recent press release.
According to Shumo Chu, NEBRA’s co-founder and CEO, the conventional challenges of low throughput and high verification costs have hindered the widespread adoption of zero-knowledge proof (ZKP) technology. However, with the introduction of NEBRA UPA, ZKP is no longer a distant aspiration but a present-day solution actively utilized within the industry.
The UPA solution caters to a wide array of protocols and projects, including zero-knowledge virtual machines, co-processors, roll-up as a service (RaaS) solutions, and consumer applications. For instance, the WorldCoin (WLD) project leverages ZKP technology via its orb to authenticate a user’s uniqueness without compromising sensitive information. Other prominent projects in the ZKP ecosystem embracing this technology include Polygon zkVM, ZK Sync, and Starknet.
One of the primary concerns surrounding ZKP implementation has been its cost implications. However, UPA endeavors to address this issue by significantly reducing costs, slashing fees from $20 to $2 for Ethereum and from $2 to $0.2 for layer-2 solutions. This drastic cost reduction is poised to empower developers and drive increased adoption of decentralized applications, making everyday crypto transactions more accessible and affordable.
Yi Tong, another co-founder of NEBRA, emphasized the transformative impact of cost reduction on ZKP usage, noting that the ability to conduct transactions for mere cents opens up a plethora of possibilities for decentralized application development.
Having secured $4.5 million in funding from prominent crypto venture capital firms like Andreessen Horowitz, Bankless Ventures, and Nascent, NEBRA is gearing up to roll out UPA v2 across leading Layer 2 solutions. This strategic move aims to enable more decentralized applications to capitalize on the benefits of reduced on-chain ZKP costs, further fostering innovation and adoption within the crypto space.
