nahmii, a second-layer Ethereum scaling solution developed by hubii AS, will be launching its initial exchange offering soon on Japanese exchange Liquid. Promising to solve Ethereum’s scaling problem, nahmii is aiming to make Ethereum a commercially-viable blockchain.
Ethereum is the world’s second biggest blockchain, but it has a problem: transaction speeds of only 15-20 transactions per second mean it is entirely unsuited for large-scale, or even small-scale, commercial operations.
Until now. In 2017, hubii who have worked with some of the biggest telecoms companies in the world turned its attention to solving the blockchain’s performance problems.
The result? nahmii, a scaling solution for the Ethereum blockchain that makes fast transactions a reality and means Ethereum is finally ready for the big time.
How does it work?
nahmii is a second layer solution and it is built on top of the main Ethereum blockchain.
Effectively, it performs a very similar role to that of the Lightning Network, which improves the speed of the Bitcoin network.
hubii found by moving transactions away from the slower base layer of the Ethereum blockchain onto a much faster network, speeds could be drastically increased.
nahmii is able to perform 15 transactions per second per connection, with no effective limit on the number of connections. With nahmii, Ethereum can now handle a theoretically limitless number of transactions at any one time.
In addition, this means nahmii is able to handle transactions at a comparable speed, or even faster, than the Visa network.
Jacobo Toll-Messia, founder and CEO of hubii, said:
“nahmii is the only commercially-viable scaling solution. Other scaling solutions forget about latency which essentially makes them unusable in commercial applications.
nahmii brings instant finality, low latency, and low fixed fees. We have fixed blockchain scalability on Ethereum, and we are now looking at bringing this to other chains, including Bitcoin, and possibly Libra. Once we have done this nahmii would act as a bridge between blockchains, providing seamless interoperability for the first time.”
nahmii’s NII tokens will be on sale to investors through the Liquid exchange soon. The tokens allow investors to receive the majority of nahmii’s transaction fees, which are earnt by helping to secure the network.
hubii is now looking to complete its token sale and attract investors to the project.