The Hermez Network, denoted by the symbol HEZ, offers an advanced method to enhance the scalability of the Ethereum blockchain. Central to its design is the utilization of a decentralized scalability model called zero-knowledge rollups (zk-rollups). This technique facilitates the aggregation of numerous transactions into a single batch for off-chain processing. Consequently, it substantially alleviates the computational burden on the Ethereum mainnet, allowing for faster and more cost-effective transactions. Zero-knowledge rollups are integral to Hermez's technology. They generate cryptographic proofs that confirm the validity of bundled transactions without disclosing any specific transaction details. This ensures the privacy and security of the data while allowing the network to verify transactions. The zk-rollup mechanism not only augments transaction throughput but also sustains the blockchain's integrity and security. The security of the Hermez Network is further strengthened through its permissionless auction system for coordinators. Coordinators are tasked with aggregating transactions and generating zk-proofs. The auction mechanism ensures the selection of the most efficient and economical coordinators, thus preventing centralization and deterring potential attacks from malicious entities. This competitive and transparent coordinator selection process reduces the risk of compromising the network. An additional innovative feature of Hermez is its integration with a private self-sovereign identity system. This system allows users to retain control over their personal data and identity, enhancing privacy and security. Users can engage with the network without revealing sensitive information, which is crucial in the context of decentralized finance (DeFi) and other blockchain applications. Hermez also features a community-oriented protocol known as Proof-of-Donation. This mechanism supports community projects by dedicating a portion of transaction fees towards funding various initiatives. Through this process, Hermez not only scales the Ethereum network but also contributes to the broader blockchain ecosystem, promoting innovation and development. Additionally, Hermez is undergoing a major transformation through its merger with Polygon, a significant layer 2 platform on the Ethereum blockchain. This merger, valued at 250 million MATIC, aims to integrate the strengths of both platforms, enhancing scalability and reducing transaction costs. The collaboration with Polygon is anticipated to bring additional resources and expertise, thereby accelerating the advancement and adoption of Hermez's technology. The decentralized structure of Hermez, along with its cutting-edge zk-rollup technology, permissionless auction system, self-sovereign identity feature, and community-driven initiatives, positions it as a formidable solution for scaling the Ethereum network. By tackling both scalability and security challenges, Hermez facilitates more efficient and secure transactions, paving the way for the widespread adoption of blockchain technology.

Hermez Network (HEZ) is a decentralized zk-rollup designed to enhance the scalability of payments and token transfers on the Ethereum network. It seeks to significantly reduce transaction costs while promoting community projects through its Proof-of-Donation mechanism, an innovation with numerous practical applications. A key application of Hermez Network is the simplification and cost reduction of person-to-person payments. By utilizing zk-rollup technology, Hermez aggregates multiple transactions into a single batch, effectively decreasing overall transaction fees. This approach makes it more cost-effective for individuals to send and receive digital currencies, thereby encouraging the widespread adoption of cryptocurrencies. Another important application lies in the development of a private self-sovereign identity to bolster the decentralized finance (DeFi) ecosystem. Hermez Network allows users to retain control over their personal data while engaging in various DeFi activities, enhancing privacy and security—both critical in the digital era. Additionally, Hermez Network functions as a scalable payments and universal settlement layer for transferring token-based digital currencies. This scalability is crucial for efficiently managing large volumes of transactions, making it suitable for both small and extensive financial operations. Businesses and individuals benefit from faster and more reliable transactions, which is particularly advantageous in a globalized economy. Moreover, Hermez Network supports low-cost and efficient transaction fees, which are essential for the widespread adoption of digital currencies. Lower fees enable more individuals to participate in cryptocurrency transactions, thus promoting financial inclusion. Staking represents another significant application of Hermez Network. Users can stake their HEZ tokens to bolster the network's security and reliability. This not only helps uphold the network's integrity but also offers users an opportunity to earn rewards, motivating active participation in the ecosystem. Hermez Network's Proof-of-Donation mechanism further sets it apart by supporting community projects. A portion of the transaction fees collected is allocated to various community initiatives, fostering social good and encouraging the development of beneficial projects within the blockchain realm.

Hermez Network (HEZ) emerged as a decentralized zk-rollup solution designed to scale payments and token transfers on the Ethereum network. This innovative approach significantly lowers transaction costs while supporting community projects through its Proof-of-Donation mechanism. A pivotal moment for Hermez Network was the introduction of its open-source scalability model. This model utilizes zk-rollup technology to enhance transaction throughput on Ethereum, addressing network congestion and high fees. By consolidating multiple transactions into a single batch, Hermez Network ensures efficient and cost-effective processing. The development of a private self-sovereign identity system also marked a significant milestone. This system empowers users with control over their digital identities, enhancing privacy and security within the blockchain ecosystem. It aligns with the broader trend towards decentralized identity solutions, offering users autonomy over their personal data. Another key milestone was the establishment of a permissionless auction system for coordinators. This system enables anyone to become a coordinator by participating in an open auction, promoting a decentralized and competitive environment. Coordinators are integral to the zk-rollup process, managing the batching and submission of transactions to the Ethereum mainnet. Hermez Network attracted media attention for its innovative solutions and contributions to the blockchain space. The availability of a media kit for download underscores the project's commitment to transparency and engagement with the broader community. A transformative event occurred when Hermez Network was acquired by Polygon in August 2021. This acquisition aimed to integrate Hermez's zk-rollup technology into Polygon's ecosystem, enhancing scalability and interoperability. The merger represented a strategic effort to combine resources and expertise, advancing the mission of scaling Ethereum. Following the acquisition, a major token change occurred. The original HEZ token was replaced with the Polygon Hermez token (MATIC), aligning with the broader Polygon ecosystem. This transition facilitated seamless integration and provided token holders with enhanced utility and benefits within the expanded network. Hermez Network's journey reflects a series of strategic developments and innovations aimed at addressing Ethereum’s scalability challenges. From the launch of its zk-rollup solution to its acquisition by Polygon and subsequent token transition, each event has contributed to the project's evolution and impact on the blockchain landscape.

Hermez Network (HEZ) is a decentralized zk-rollup developed to enhance the scalability of payments and token transfers on the Ethereum network. It substantially reduces transaction costs and supports community projects through its Proof-of-Donation mechanism. The network was founded by Antoni Martin, David Z., and Jordi Baylina. Antoni Martin's expertise in blockchain technology has been pivotal in shaping Hermez's strategic direction. David Z. offers a wealth of experience in software development and cryptography, playing a key role in the network's technical implementation. Jordi Baylina is a respected member of the Ethereum community, noted for his significant contributions to smart contract development and security. For more details, you can explore our resources on Eulerpool.