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Zero-knowledge proofing platform NEBRA has launched its Universal Proof Aggregation solution, bringing the benefits of ZKP verification to the cryptocurrency industry.
NEBRA UPA, which was launched 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 drive scalability and privacy on blockchains through proof aggregation, NEBRA The team stated this in a press release shared with crypto.news.
“Low performance and high verification costs are major obstacles that prevent 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 in use right now.”
Shumo Chu, co-founder and CEO of NEBRA.
A solution for zkEVMs and RaaS protocols
Protocols and projects that benefit from UPA’s solution include zero-knowledge virtual machines, coprocessors, deployment-as-a-service solutions, and consumer applications.
An example of the latter is the WorldCoin (WLD) project, which leverages ZKP to verify that a user is a unique human being. The project’s World app uses this technology to verify identity without revealing any information. Other notable projects in the ZKP ecosystem include Polygon zkVM, ZK Sync, and Starknet.
The question of cost
ZKP costs can be prohibitive, but UPA seeks to reduce them 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 cryptocurrency use cases, such as buying coffee, will empower developers and increase adoption in decentralized applications.
“Who wants to pay $20 for a ZK token to buy a cup of coffee? But when the cost is reduced to a few cents, it opens up countless possibilities for the development of decentralized applications.”
-Yi Tong, co-founder of Nebra.
NEBRA has raised a total of $4.5 million in funding from cryptocurrency venture capital firms including Andreessen Horowitz, Bankless Ventures, and Nascent. The platform plans to implement UPA v2 on major L2s to enable more decentralized applications to reap the benefits of reduced costs for using ZKP on-chain.