What Is Nahmii?
Nahmii Coin is an Ethereum Virtual Machine compatible Layer 2 Scaling Solution that differentiates by having instant finality, low latency, predictable fees, and ability to KYC/AML. They was the first L2 payment network upon Ethereum. They adds full EVM functionality enabling smart contracts. The team previously worked on Bitcoin’s lightning network and Plasma before developing.
NahmiiCoin Storage Key Points
|Coin Name||Nahmii Coin|
|Circulating Supply||33.00B NII|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Challenges and Opportunities of Ethereum
Nahmii Coin Ethereum will be the foundation for Web3. Despite its strengths, Ethereum faces major challenges, including:
- Low throughput
- High, unpredictable fees
- Delayed finality
Nahmii addresses these challenges by leveraging Ethereum’s security beneath a high-speed, low-cost execution layer.
Nahmii Makes Every Ethereum dApp Better
Nahmii scales any decentralized application to a global scale. From Defi projects to fintech solutions, from industrial IoT integrations to supply chain management, from oracle solutions to NFT platforms, makes them all production-ready with:
Nahmii processes transactions at the speed of traditional databases — far beyond any other layer 2 — through the use of horizontal scaling.
The eliminates the time between submitting a transaction and first confirmation on the network through the use of state pool technology.
Nahmii is crafted with state-channel architecture, removing the need to commit to a base layer to achieve finality
Nahmii Coin with there are no surprise charges. Fees are always known prior to any transaction
Low Transaction Fees
Nahmii’s low transaction fees free developers and users alike from the constraints of an expensive dApp ecosystem.
The greatest innovation is a technological breakthrough called “state pools.” State pools combine the instant finality of state channels with the pooled security of side chains and rollups. By merging the best of both worlds, they achieves instant transactions that are fully secure.
Generalised Smart Contract Support
The supported smart contracts for payments. The enables generalised smart contracts on the network, opening up the door to near-limitless dApp innovation.
Nahmii architecture retains the powerful composability of the Ethereum network, enabling builders to create unique, powerful new products.
The architecture offers protection from fraud at all levels, securing transactions and user funds from initiation through settlement on Ethereum and everywhere in between.
Governance and Security Model
They will be governed in accordance with a hybrid foundation and governance token model. The token (NII) is not only used for governance but is also key to the security model.
All transaction fees generated by users of the protocol will serve the security. The
overwhelming majority of transaction fees will be earned by NII token holders in return for their
participation in the security mechanisms.
This ensures that those token holders are economically bonded to Nahmii and this is critical to strongly incentivise the protection of the protocol. It would be impossible to build Nahmii without such a direct incentive structure
Data Availability Validation
Nahmii Coin To ensure that users can effectively challenge fraud had to solve the “data availability problem.” To do so, they constructed a decentralised oracle by which the smart contract can verify that data is available.
The Data Availability Problem
The fraud and settlement challenges set out earlier in this section rest on the principle of data
availability, which requires that the Operator publish accurate and complete transaction receipts at all times. This data is crucially important for ensuring confidence and the Operator. Without the relevant data, users cannot challenge fraudulent transactions as there is no evidence to send to the smart contract.
Validity Proofs vs Fraud Proofs
Nahmii validity proofs are a technique used to secure some other layer 2s, namely ZK-SNARKS
11 or ZK-STARKS 12 used in the various forms of ZK Rollups. Whereas a fraud proof is used to show
something has gone wrong in the past, a validity proof ensures that a state transition is correct as it takes place. Ostensibly there are some benefits for using these cryptographic proofs, but they will describe here why they can create serious and irreconcilable issues for scalability.