Hermez Network

Built on the Ethereum blockchain, Hermez Network is a trustless ZK-Rollup focused on scaling payments and token transfers. Operating as a layer 2 solution, it seamlessly integrates into the fabric of the Ethereum ecosystem, enabling low-cost token transfers for an inclusive economy.

Hermez Network's technology is centered around zero-knowledge proof (ZKP) technology, which presents and publicly records the validity and correctness of rolled transfers processed on the Ethereum blockchain. This approach significantly reduces transfer costs, allowing for more accessible financial services for mainstream adoption. The network boasts over 90% reduction in token transfer costs and a throughput improvement of over 133x compared to traditional L1 Ethereum transactions.

The Hermez Network is designed for collaborative economy, with a mission to create an inclusive, resilient, and highly efficient payment network for the next generation of digital currencies. Its community-centric protocol selects block creators through a burn auction mechanism, where 40% of the winning bid is returned as a donation to be reinvested in Ethereum public goods through Gitcoin quadratic funding grants. This innovative approach is known as Proof-of-Donation.

As a key component of the Polygon ecosystem, Hermez Network's HEZ token has been indexed to MATIC, with Polygon's native token becoming the utility token of the Polygon Hermez zkRollup. The network's future plans include continued development and expansion of its capabilities, with a focus on universal scalability and validity proofs.

The Hermez Network team is committed to creating an efficient and secure payment network, with a strong emphasis on community engagement and collaboration. With its innovative use of ZKP technology and Proof-of-Donation mechanism, Hermez Network is poised to play a significant role in the development of the next generation of digital currencies.