Open and low-cost payment network for everyone.
Hermez is a trustless ZK-Rollup focused on scaling payments and token transfers on the wings of Ethereum.
More than 90% transfer cost reduction
By using zero-knowledge technology, transfer costs are significantly reduced, allowing more accessible financial services for mainstream adoption.
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.
People powered payments
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
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.
Permissionless auctions for validators
Anyone can bid in a decentralised auction to create the next batch on Hermez Network. Each successful validation is rewarded with HEZ tokens.
The Hermez token (HEZ) acts as the vehicle for bidding in the auction to award exploitation rights to slots of the Hermez Network to the highest bidders.
Future of payments
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 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 Hermez network is implemented on Ethereum, and so any permissionless node can be deployed and synchronized from it.