Scaling and interoperability service nahmii has announced a partnership with Neo, noting its intention to add support for Neo to its Layer-2 protocol. The service aims to increase the performance, minimize latency, and lower transaction fees on supported platforms such as Ethereum, Neo, and Rootstock.
Initially named hubii striim, the nahmii protocol was developed by hubii, a team that aims to build out a fair content distribution ecosystem through the use of blockchain technology. After encountering scaling difficulties while building on blockchain and existing scaling solutions, the group elected to design its own layer-2 protocol.
According to the press release, support for Neo on nahmii is planned to go live in 2020. NGD Shanghai’s ecosystem growth manager, Sara Song, commented:
“The porting of nahmii smart contracts to NEO will help NEO to improve its scalability and interoperability, which is a big plus to the development of massive adoption on NEO.”
Following its initialization on Ethereum, nahmii intends to expand the service to support additional blockchains, namely Neo and Rootstock. As noted by hubii CEO Jacobo Toll-Messia, this enables it to offer interoperability between each chain through the use of atomic swaps:
“Once nahmii is live on NEO, it will allow for seamless atomic swaps between ETH and NEO and their respective tokens. Bitcoin interoperability is also coming to nahmii, via Rootstock, and will go live in 2020.“
As a second layer solution, nahmii is designed to move most transaction processing off-chain. Instead of sending an Ethereum or Neo transaction on their respective MainNets, users will be able to send via state channels with nahmii.
In the whitepaper, hubii outlines the potential for nahmii to be governed using a democratic foundation model, though currently hubii acts as the sole operator initially. However, the team does claim that “the security of nahmii does not rely on users trusting hubii; the system has been designed to be trustless.”
About The Author: Brett Rhodes
Brett is a blockchain enthusiast and freelance writer who originally began producing content for the gaming & eSports industries. Now he spends most of his time contributing in the Neo ecosystem.
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