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Florence, New Jersey, December 19th, 2023, Chainwire
Nume Crypto launched its payment scaling protocol on Polygon zkEVM today. Designed to enable Web2 scale and economics on Web3 rails, the Nume payments rollup is the first flat-fee protocol on the Ethereum network, providing instant transaction confirmation and horizontal scalability.
Nume users can conduct token and NFT transfers, NFT mints, NFT trades, and network deposits and withdrawals. A later update will see the rollup receive full EVM compatibility. Nume is also the first scaling solution to provide network subscriptions. Users can unlock all operations on the network at the introductory pricing of just 1.99 DAI a month.
Web2 Economics on Web3 Rails
Every on-chain transaction incurs a variable gas fee. As consistently shown by spikes on Ethereum and Polygon, like the recent 1000% spike in Polygon caused by minting POL, this fee can be very unpredictable. Nume is built to remove the unpredictability and variability of gas fees to make it easier to scale blockchain applications to Web2 users.
The Nume payments rollup can batch an unlimited number of transactions at fixed and low on-chain costs, while providing the strongest security guarantees. This means that the marginal cost of a transaction is zero, enabling the protocol to offer entirely gas-abstracted business models for blockchain activities on Polygon zkEVM today.
Nume is available for both end users and dApps to conduct P2P token and NFT transfers, NFT mints, NFT trades, network deposits, and network withdrawals. While full EVM compatibility is scheduled for Q2 2024, the payments rollup is already EVM addressable and compatible with EVM wallets. To start sending and receiving funds on Nume, users can add the protocol as a network to their standard EVM wallets like Metamask or Coinbase Wallet. On the other hand, dApps can utilize the protocol to offer flat-fee operations to their users akin to what they come to expect from Web2 services.
All operations on Nume, except for deposits that happen on Polygon zkEVM, are priced in entirely flat fees. Nume also offers network subscriptions, enabling unlimited feeless operations to users at a flat 1.99 DAI per month.
A New Way to Scale the Ethereum Blockchain
With blockchain technology gearing towards mainstream adoption, scalability options are becoming increasingly crucial to blockchain-powered applications. But despite all the improvements they bring to the table, current solutions are not without fault.
Optimistic rollups (OR) incur low costs but have a delay time when exiting liquidity. On the other hand, ZK rollups have instant settlement finality and fast liquidity exit but incur high costs due to their computationally intensive nature.
Further, current scaling solutions have to choose between posting transaction data on-chain at higher processing costs (e.g. OR and ZKs mentioned above) vs putting it off-chain with weaker security guarantees (e.g. using a Data Availability Committee). These kinds of trade-offs mean that the experience with current rollups is less than ideal for many users.
The Nume Payment rollup addresses these challenges and offers the best of current rollup solutions. It keeps data off-chain while proving its irrefutable availability as well as the correctness of the resulting balance updates (to users’ funds) on-chain. The protocol utilizes hardware enclaves to run the rollup algorithm and compute a new state, which means that every settlement processed within the enclave is attested by it.
It is effectively this attestation that is verified on-chain; the transactions themselves are posted to IPFS and the enclave first downloads them before computing the state update, hence verifying that the data has been made available in the specified IPFS location.
The Nume rollup offers trustless security at very low on-chain and off-chain costs while also providing instant settlement finality and thereby fast on-chain exit liquidity.
About Nume Payments Rollup
The Nume payments rollup is a trustless scaling solution deployed on Polygon zkEVM. It was developed by Nume Crypto, a Web3 organization founded with the vision of leveraging blockchain-based technologies to facilitate worldwide financial inclusivity.
For more information and updates, check out the Nume Website and follow Nume:
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Disclaimer: Press release sponsored by our commercial partners.