Metis Leverages NuvoOne to Eliminate Gas for Ecosystem dApps
TORONTO--(BUSINESS WIRE)--Metis, an organization committed to building a robust and decentralized Layer 2 infrastructure, today announced the integration of its EcoNode, Nuvo, with BLS Wallet – a Layer 2 smart contract and signature aggregator. Through this integration, dApps building within the ecosystem are enabled to facilitate gasless transactions through Nuvo’s middleware wallet for developers. Leveraging BLS Wallet’s open-source compressed transactions and Nuvo’s reputation-powered ecosystem, users can facilitate gasless transactions with no code changes as well as easy recovery across accounts.
Despite immense progress and adoption, blockchain remains hampered by the scalability trilemma – struggling to provide security, decentralization, and scalability. Among these, scalability, in many ways, is proving the most challenging, evidenced by notorious network congestion and exorbitant gas fees. In January alone, gas fees on Ethereum increased by nearly 30%. Over the same time period, DeFi protocols experienced a 26% increase in total value locked (TVL) across staking pools, totalling $74.6 billion.
As the promise of DeFi continues to materialize, users remain in constant pursuit of solutions that deliver the usability and user experience of Web2 without the drawbacks of high gas fees. Starting today, Metis is leveraging Nuvo technology to integrate with BLS Wallet to enable users to facilitate crypto transactions free from gas fees. Builders and developers must turn this feature on by easily integrating NuvoWallet with their dApp, and simply turn the BLS feature on.
“We could not be more excited to support Nuvo’s Integration with BLS Wallet,” said Elena Sinelnikova, Metis CEO and Co-founder. “Enabling the option for developers to remove gas costs for users through subsidization is a major step for web2 users onboarding to the Web3 economy. We are confident that, alongside Nuvo and integrations like BLS Wallet, we are accelerating the wider adoption of digital assets, while simultaneously removing the barriers to entry.”
BLS Wallet holds the unique distinction of being the first startup working with Ethereum Foundation to bring compressed, low gas transactions to Mainnet. BLS Wallet’s signature aggregator bundles transaction signatures into a single signature where each transaction is verified. Ultimately, BLS Wallet reduces the amount of data storage needed, making transactions more efficient and less costly. Recognized as a privacy-first decentralized identity framework, Nuvo delivers a flexible and secure identity layer. The Metis integration of BLS Wallet, powered by Nuvo, brings users a truly first-of-its-kind crypto transacting experience free from the notorious limitations of blockchain scalability.
“There remain far too many barriers to entry for new users looking to explore digital assets,” commented James Zaki, Project Lead at BLS Wallet. “By combining BLS Wallet with Nuvo technology we are able to increase dApp feasibility with lower transaction costs, paving a path to support user onboarding into Web3. We are excited to work alongside Metis and Nuvo to bring a truly novel crypto transacting experience to users.”
“Blockchain technology is often characterized as difficult to use and historically siloed,” added Caria Wei, CEO of Nuvo. “It is crucial we enable the use of crypto without the drawbacks and limitations of blockchain that have been so widely publicized. This integration with Metis through Nuvo will allow applications to take advantage of the BLS Wallet without changing any line of code, and have the flexibility to choose between BLS Wallet or regular transactions based on their needs.”
For more information about Metis and its integration with BLS Wallet, see: metis.io. Follow Metis on Twitter, and join the conversation on Discord.
For more resources about BLS Wallet, visit: blswallet.org.
To explore Nuvo, please see: nuvosphere.io.
Metis is a first of its kind, scaling and user friendly platform built to scale Ethereum and facilitate infrastructure development. The Metis Layer 2 is just the core component of the Metis Stack*, followed by the Reputation Power System, and the Decentralized Autonomous Company (DAC) Framework. The Metis Stack will provide the ideal environment for infrastructure development, day-to-day businesses, and other forms of open collaboration to take place.
When using Metis, users can rest assured that their transactions are being secured by Ethereum mainnet while uniquely inheriting the underlying benefits of EthereumBuilders and users are truly interacting with, and secured by, Ethereum mainnet.
ABOUT BLS WALLET
BLS-Wallet is part of Privacy & Scaling Explorations (PSE), a multidisciplinary team supported by the Ethereum Foundation. PSE explores new use cases for zero knowledge proofs and other cryptographic primitives.
Nuvo is a privacy-first decentralized credentialing and identity framework, with an extensible reputation-powered ecosystem.
Nuvo is on a mission to provide a flexible and secure identity layer to your ecosystem beyond just token governance. In this layer users have the ability to earn credentials and reputation power from highly customizable actions and contributions. Nuvo sees this layer as the end to data siloing and a way to bridge new connections on and off chain, across web2 and web3, and more that weren’t possible before. Additionally, data sharing will always be opt-in with income incentives for users for the applications that want to participate.
Your data, your reputation, your reward.
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