Hermez Network (HEZ)

Hermez Network (HEZ) is an open-source ZK-Rollup that facilitates secure, low-cost, and accessible token transfers within the Ethereum ecosystem. By leveraging zero-knowledge technology, Hermez Network has achieved more than a 90% reduction in transfer costs, making financial services more accessible for mainstream adoption. With a decentralized and open-source architecture, Hermez Network ensures computational integrity for secure and fast transactions while preserving the public blockchain properties of Ethereum.

One of the key features of Hermez Network is its scalability solution, which enables over 133x throughput improvement compared to traditional Ethereum transfers. Using zero-knowledge proofs, Hermez Network offers high throughput and cost-efficient token transfers and swaps. Its permissionless auction mechanism allows anyone to bid in a decentralized auction to create the next batch on the network, with successful validations being rewarded with collected transaction fees.

As Hermez Network merged with Polygon, the HEZ token has been indexed to the MATIC token, making MATIC the utility token of the Polygon Hermez zkRollup. Holders of HEZ can exchange their tokens for MATIC. With its focus on zero-knowledge cryptography, Hermez Network’s zk-rollup layer-2 construction solves Ethereum’s scalability challenges by processing mass transfers in a single transaction. The use of zero-knowledge proofs ensures the validity and correctness of transactions while achieving universal scalability with validity proofs between Ethereum and Hermez Network.