NEBRA: Revolutionizing Zero-Knowledge Proofs in the Blockchain Industry with $4.5 Million in Funding

NEBRA secures $4.5 million in funding for zero-knowledge proof technology

NEBRA, a British crypto startup, has successfully raised $4.5 million in funding during a pre-seed and seed round led by Nascent and Bankless, with support from notable angels such as Tim Beiko from Ethereum Foundation, Kartik Talwar from ETHGlobal, Nick White from Celestia, Sandy Peng, and Haichen Shen from Scroll. Additionally, NEBRA has received funding from a16z Crypto Startup Accelerator as part of the CSX Spring 2024 cohort in London.

The primary focus of NEBRA is on researching and developing strategies for enhancing the privacy and scalability of blockchain technology through zero-knowledge proofs (ZKPs). These ZKPs have the potential to improve on-chain privacy, which is essential for the scalability of blockchains. However, current technologies are costly, with Ethereum ecosystem users collectively spending over $50 million in gas fees.

NEBRA’s goal is to revolutionize ZKP settlements in the blockchain ecosystem by advancing ZKP technology and making it more cost-effective and efficient. During a stress test in 2023, NEBRA demonstrated impressive resilience by processing 1,000,000 proofs within 36 hours, achieving a throughput of 10 proofs per second with an average verification latency of around 2 minutes. The company aims to become the leading platform for those looking for cost-effective and efficient ZKP settlement solutions across blockchains.

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