Ethereum, the second-largest cryptocurrency, has continued to grow in view of surpassing Bitcoin, the largest cryptocurrency. As a result, Etherem has launched its layer 2 Ethereum scaling solution.
Ethereum Launches Layer 2 Ethereum Scaling Solution
In a blog post on the 28th of September, the platform announced its launch of the layer 2 Ethereum scaling solution called Nahmii 2.0, capable of achieving actual commercial viability.
The launch of the Nahmii 2.0 was pioneer by the $8 million funding round of DARMA Partners, a part of the Darma Capital, an institutional investment firm.
Nahmii 1.0, the previous version, only supported payments on the platform, while Nahmii 2.0 supports generalised smart contracts, enabling a decentralised apps (dApp) ecosystem and institutional use cases.
The Network Ethereum Scaling
Nahmii is a revolutionary layer 2 scaling protocol for Ethereum that is ready to extend a high throughput, instant finality, and predictably low transaction costs to beat other scaling solutions. Moreover, it seems to compete with the blockchain of the Enterprise-class Solana Competition.
The second implementation is complete KYC (know-your-customer), with the facilities to develop well-conformal products. Compatible with Etherum virtual machines to allow developers to be able to change positions with minimal stress.
Nahmii 2.0 team has previously worked on the Lightning network and the Plasma Zoom platform of Bitcoin. According to L2Beat, the total value of all Layer 2 protocols is currently $2.4 trillion after falling 33% on the 16th of September from a speed of $3.6 billion.
The platform has its local token, Nii, according to CoinGecko, which jumped 12% with a historical high with a day trade yesterday. Since the beginning of the year, the token has moved an incredible 7.230%.