The developers of the second-tier solution Hermez Network for scaling Ethereum have announced the launch. A feature of the project is the use of ZK-Rollups technology with zero knowledge.
Users will be able to apply Hermez for exchanging ETH and some tokens with low fees. According to the statement of the technical director Hermez Jordi Bailey (George Baylina), the solution allows you to reduce the size of commissions by 90%, that is, processing a transaction will cost from $ 1 to $ 1.5. Hermez Network
has increased throughput – a hundredfold increase in indicator is declared compared to the first level of the Ethereum blockchain.
At the first stage Hermez Network supports ETH, stablecoin USDT, tokens WBTC, DAI and HEZ… However, support for new tokens will be added soon.
“We will add many more tokens very soon. Hermez Network open to any standard token ERC-20 “, – said Baylina.
The project’s CTO said he expects a quick connection to Hermez Network many exchanges and wallets. However, there is still a lot of work ahead, including getting rid of some of the “centralization points”.
“We plan to refine and adjust some aspects and soon become a fully decentralized self-governing system,” concluded Baylina.
Earlier, Ethereum co-founder Vitalik Buterin discussed various second-tier roll-up solutions, including ZK–Rollups, and suggested a way to interact between such solutions.
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