How-to, Tips and Articles: Polygon Hermez | Scalable payments. Decentralised by design, open for everyone. A decentralized zkRollup focused on scaling payments and token transfers on top of Ethereum | Hermez is a zk-rollup which allows for scaling payments and token transfers on top of the Ethereum public blockchain. It is designed with high-frequency tokens like ETH, DAI, Tether, and wBTC in mind. Hermez uses the Ethereum public blockchain for data storage instead of computation, i.e. it handles data availability on-chain but does computation offchain. In addition, by utilising zeroknowledge proofs, it attaches an easily verifiable on-chain proof that the off-chain computations have been carried out correctly. Since both the data and zero-knowledge proof are available onchain, Hermez relies on the same security assumptions as Ethereum. This means Hermez is as censorship-resistant as Ethereum. One of the most important things about Hermez, is the way in which it decides who the next rollup batch creator should be. Hermez integrates an auction where everyone intending to become a coordinator – the batch creator in the Hermez ecosystem - bids the number of tokens they are willing to donate in order to obtain the right to create the next batch.

Tuesday, October 26, 2021

Polygon Hermez | Scalable payments. Decentralised by design, open for everyone. A decentralized zkRollup focused on scaling payments and token transfers on top of Ethereum | Hermez is a zk-rollup which allows for scaling payments and token transfers on top of the Ethereum public blockchain. It is designed with high-frequency tokens like ETH, DAI, Tether, and wBTC in mind. Hermez uses the Ethereum public blockchain for data storage instead of computation, i.e. it handles data availability on-chain but does computation offchain. In addition, by utilising zeroknowledge proofs, it attaches an easily verifiable on-chain proof that the off-chain computations have been carried out correctly. Since both the data and zero-knowledge proof are available onchain, Hermez relies on the same security assumptions as Ethereum. This means Hermez is as censorship-resistant as Ethereum. One of the most important things about Hermez, is the way in which it decides who the next rollup batch creator should be. Hermez integrates an auction where everyone intending to become a coordinator – the batch creator in the Hermez ecosystem - bids the number of tokens they are willing to donate in order to obtain the right to create the next batch.

Hermez: Hermez is a trustless ZK-Rollup focused on scaling payments and token transfers on the wings of Ethereum.

Polygon Hermez | Scalable payments. Decentralised by design, open for everyone. A decentralized zkRollup focused on scaling payments and token transfers on top of Ethereum | Hermez is a zk-rollup which allows for scaling payments and token transfers on top of the Ethereum public blockchain. It is designed with high-frequency tokens like ETH, DAI, Tether, and wBTC in mind. Hermez uses the Ethereum public blockchain for data storage instead of computation, i.e. it handles data availability on-chain but does computation offchain. In addition, by utilising zeroknowledge proofs, it attaches an easily verifiable on-chain proof that the off-chain computations have been carried out correctly. Since both the data and zero-knowledge proof are available onchain, Hermez relies on the same security assumptions as Ethereum. This means Hermez is as censorship-resistant as Ethereum. One of the most important things about Hermez, is the way in which it decides who the next rollup batch creator should be. Hermez integrates an auction where everyone intending to become a coordinator – the batch creator in the Hermez ecosystem - bids the number of tokens they are willing to donate in order to obtain the right to create the next batch.

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