Polygon acquires Hermez Network for $250M, will merge native tokens

Layer-two protocol Polygon will be merging ZK-rollup project Hermez Network into its ecosystem for $250 million worth of MATIC tokens. In a Friday announcement, Polygon said Hermez would become a part of the network’s suite of solutions under the name Polygon Hermez. The 26 people in the Hermez team as well as its tech and […]

Tether launches on Hermez rollup as Ethereum starts falling behind

Tether (USDT) has now launched on Hermez Network, an Ethereum scalability solution based on the zk-rollup concept. Rollups provide a way of batching or “rolling up” transactions to lighten the load on the Ethereum network. The key to rollups is the concept of data availability, which means that the state data of the rollup is […]

Ethereum layer-two network to offer batched Tether payments

Popular stablecoin Tether (USDT) is the first token to go live on the Hermez layer-two network, the company announced on Monday. As part of the collaboration, batched USDT transactions will be possible once the Hermez network officially launches in early 2021. David Schwartz, project lead at Hermez told Cointelegraph: “Hermez network is run by permissionless coordinators […]