NEO has announced a new partnership with nahmii to achieve its goal of improving scalability and interoperability by 2020.
The agreement was signed last week and will also be instrumental in achieving even lower fees and faster transactions. Nahmii will also act as a bridge between the NEO and the Ethereum blockchains, allowing them to work closely together.
The next step for NEO will then be to achieve interoperability with Bitcoin’s blockchain, and nahmii will be working towards this.
The nahmii protocol, active on Ethereum since 2018, is a second-level layer that helps blockchains increase their scalability.
In essence, nahmii uses smart contracts to manage onchain transactions and then move most of them to a secondary offchain layer, making the primary layer more streamlined.
When nahmii will be active on NEO it will allow atomic swaps between ETH and NEO. Later on, the same thing will be possible with Bitcoin using Rootstock.
CEO Jacobo Toll-Messia explained:
‘We are delighted to be working with NEO to deliver blockchain interoperability at scale. Through nahmii, NEO users will enjoy unrivalled performance and connectivity bringing NEO and Ethereum together seamlessly for the first time. Developers across multiple platforms, NEO, Ethereum and Bitcoin, will soon be able to use a single interface to build products on many blockchains. This is the future of interoperability and it starts with nahmii.’
Sarah Song of NEO Global Development, said:
“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. We look forward to successfully going live of nahmii’s solution on NEO.”