According to TechFlow, on August 15, according to The Block, blockchain research organization NEBRA announced the launch of "Universal Proof Aggregation" technology, which allows multiple zero-knowledge proofs to be merged into a single compact proof, thereby reducing blockchain verification costs. The system has been launched on the Ethereum mainnet and aims to reduce high proof settlement fees.
Zero-knowledge technology is computationally complex, which leads to high implementation costs, limiting its widespread application. According to estimates on the Ethereum.org blog, the cost of verifying a zk-SNARK proof on Ethereum is about 500,000 Gas, which is ultimately paid by users to subsidize the computational costs. NEBRA's aggregator can reduce the cost to one-tenth of the original by settling batches of data from multiple ZK proofs on-chain. Shumo Chu, CEO of NEBRA, said that low throughput and high verification costs are the main obstacles that prevent applications from fully utilizing ZKP technology.
Earlier news, NEBRA received a $4.5 million seed round of financing led by Nascent and Bankless Ventures, and a16z's Crypto Startup Accelerator also participated.
