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nahmii is a revolutionary Layer-2 scaling protocol for the Ethereum blockchain, which provides unrivalled throughput, low latency, instant finality and predictable fees. Using smart contracts, nahmii’s non-custodial system ensures that user’s funds are always safe. The system is live and ready to build on today, with plans to bring nahmii’s raw scaling power to both Bitcoin and Libra in the near future.
Token Basic Information
nahmii is the only commercially-viable scaling solution for blockchain available today. No other protocol offers the same combination of performance, security and features. If you want to build a scalable product on the blockchain, you need It.
Every connection to nahmii enjoys a minimum of 15 transactions per second, with no limit on the number of connections. With It, blockchains can finally offer the throughput they need to be business-ready.
True scaling solutions need more than just increased throughput; nahmii has extremely low latency, making the platform perfect for traders.
It’s a real challenge to do business on a blockchain where transactions can be reversed. With nahmii, transactions are final as soon as you see the receipt.
When moving tokens at scale, the costs can quickly add up. With Its predictable fees, user know in advance exactly what each transaction will cost. Even better, nahmii’s fees are ultra-competitive.
Today, the nahmii protocol can be used to make off-chain payments in Ether and a range of supported ERC-20 tokens. Soon, nahmii will also be able to process trades (atomic swaps) between supported currencies. We use the term ‘driip’ to refer to any off-chain transaction within nahmii that can result in a change of state on the Ethereum main chain. Please note that driips are not limited to payments and trades; we anticipate that nahmii will support many different driip types in the future.
nahmii will be governed in accordance with a foundation model, whereby members are responsible for the effcient and reasonable management of the protocol. All members, hubii included, will be equal partners with the same associated rights, privileges and responsibilities. Members will be geographically distributed and leading companies across diverse industries, ensuring that the Foundation itself will be decentralised in nature.
Members are required to play an active role in monitoring, validating and protecting the protocol. Their role also includes a commitment to building nahmii-based solutions and the provision of nodes to assist protocol operation. The Foundation might be required to ensure the responsible divestment of hubii’s large holding at an appropriate point in time. This divestment is part of a broader plan to guarantee a plurality of nahmii token holders, thus making the protocol more resistant to a 51% attack.
There will be fees for transacting any type of driip on nahmii. These fees are essential for the security of the platform and for building an ecosystem of products based on nahmii. The fee structure has been designed so that the costs of using nahmii should be competitive with, if not considerably lower than, the fee for performing the equivalent transaction on the Ethereum base network. Our architecture is able to benefit from extremely cheap computation and should therefore be substantially more efficient in processing transactions.
Ordinarily, state channel constructions can introduce undesirable properties, such as restrictions on top-ups, movement of arbitrary token denominations or partial withdrawals. nahmii will have no such restrictions. Users may top-up with ease, transfer or trade any arbitrary amount of funds and make partial withdrawals as needed. Users are not required to close their nahmii account to settle their balance and withdraw.
The nahmii protocol will be operated initially by hubii, who will provide the first point of validation on the platform. This arrangement is subject to the governance and approval of the nahmii Foundation. Much of Its security construction is designed to ensure the Operator is unable to commit fraud, even if compromised.
Any user of the Ethereum network can submit fraud challenges to the smart contract, with the reward for a successful challenge being the fraudulent user’s balance in the currency of the fraud. These challenges are explained in more detail in the ‘Continuous Fraud Challenge’ and ‘Settlement Challenge’ sections.
Data Availability Validation
The fraud challenges detailed above require users to submit proof in the form of driip receipts. These receipts are published by the Operator and nahmii token holders are responsible for validating that this data is available at all times. The ‘Data Availability Validation’ section provides more detail on these points.
Built with developers in mind
Before nahmii, software development using blockchain was difficult and slow. With It, we have lowered the barriers to entry for experienced and novice developers alike. Built with developers in mind, Its comes complete with a suite of APIs, SDK and CLI toolset.
Features of nahmii
nahmii is ready for cross-blockchain scaling
nahmii is built and deployed in the Ethereum mainnet but this is only the beginning. Soon nahmii will bring commercially-viable scaling to other blockchains, such as Bitcoin (via RSK) and Libra. Not only will it solve their scaling problems, it will also provide a seamless common layer between blockchains. With Its, true blockchain interoperability is now in reach.
Governed by the nahmii Foundation
The nahmii protocol will be governed by the nahmii Foundation, comprised of internationally renowned business from the world of blockchain and beyond. The Foundation will be democratic and partially decentralised, ensuring nahmii’s trustless architecture remains at the forefront of blockchain innovation.
Multiple Commercial Use Cases
Any product built on blockchain will benefit from using nahmii. From fintech platforms to supply chain management and IoT, nahmii transforms blockchain potential into reality. The first nahmii-backed products are already in development, including payments and gaming applications.
Know Your Customer/Anti-Money Laundering
In order to comply with regulations, particularly when users are interacting with fiat currencies, it will at some point be necessary to identify certain users. nahmii has been constructed to have this functionality natively without impacting those users who choose not to use fiat.
An essential tool for security over funds within the Ethereum ecosystem has been multisignature wallets. nahmii will be multisignature compatible and this feature will be added to the platform at the earliest possible date.
The nahmii protocol will be tokenized, with almost 100% of transactions fees paid to token holders (the remainder goes into security bonds). There are a total of 120 billion tokens, known as NII, which are held in time-locked contracts. These contracts release 1 billion tokens per month, which are then distributed according to the allocations set out below. 50% of NII tokens will be airdropped to HBT token holders through the protocol directly.
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This article is writing on 15 May 2020 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: email@example.com Or Whatsapp Us- +13098896258
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