Group 38

Scalable payments. Decentralised by design, open for everyone.

Polygon Hermez is an open-source ZK-Rollup optimised for secure, low-cost and usable token transfers on the wings of Ethereum.

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Quick overview of how Polygon Hermez works

Polygon Hermez seamlessly integrates into the fabric of the Ethereum ecosystem and enables low-cost token transfers for an inclusive economy.

Cost-efficient token transfers and swaps with high throughput.

Decentralised and open-source architecture.

Computational integrity for secure transactions.

Polygon Hermez Network

More than 90% transfer cost reduction

By using zero-knowledge technology, transfer costs are significantly reduced, allowing more accessible financial services for mainstream adoption.

L1 Ethereum

L2 Polygon Hermez

Layer 2 scalability solution

Computational integrity and on-chain data availability are guaranteed by zero-knowledge proof technology while preserving the public blockchain properties of Ethereum.

Results

Over 133x throughput improvement

Over 90% reduction in token transfer costs

Secure and fast withdrawals

People powered payments

Polygon Hermez's mission is to create an inclusive, resilient and highly efficient payment network for the next generation of digital currencies to ensure everyone has the freedom to transact.

Development goals

Designed for collaborative economy

Polygon Hermez is giving back

Block creators are selected through a burn auction, however rather than burning tokens, 40% of the winning bid is returned as a donation to be reinvested in Ethereum public goods through Gitcoin quadratic funding grants. We call this mechanism Proof-of-Donation.

More about proof-of-donation

Permissionless auctions for validators

Anyone can bid in a decentralised auction to create the next batch on Polygon Hermez Network. Each successful validation is rewarded with the collected transaction fees.

More about network coordinators

HEZ Token

After Hermez Network merged with Polygon, the HEZ token has been indexed to MATIC token. Polygon's native token MATIC will become the utility token of the Polygon Hermez zkRollup.

Holders can exchange HEZ to MATIC here.

More about HEZ

Future of payments

Zero-knowledge cryptography

Polygon Hermez zk-rollup is a layer 2 construction on top of Ethereum that solves its scalability through mass transfer processing rolled into a single transaction.

The "zero-knowledge proof" (ZK) technology is used to present and publicly record the validity and correctness of the rolled transfers processed on the Ethereum blockchain. By storing just the proof and the compressed data of a batch of transfers, the efficiency and the throughput of the network is multiplied.

Universal scalability with validity proofs

The consensus of status between Ethereum and Polygon Hermez is leveraging on zk-SNARKs validity proofs. Since validity is enforced by the zero-knowledge circuits, the L2 network status and the transactions can be considered as valid instantly once the corresponding block containing the proof is mined in L1.

All the data availability required to reconstruct the full state of Polygon Hermez Network is implemented on Ethereum, and so any permissionless node can be deployed and synchronized from it.

Polygon Hermez Network White Paper

Technical Documentation

Github Repository

Technology