Today's Hermez Network price is $5.5660, which is up <1% over the last 24 hours. Hermez Network's market cap is $29.80M. 24 hour HEZ volume is $2.14M. It has a market cap rank of 286 with a circulating supply of 5,353,435 and max supply of 100,000,000. Hermez Network is traded on exchanges. Hermez Network had an all-time high of $7.2931 13 days ago. Over the last day, Hermez Network has had 30% transparent volume and has been trading on 9 active markets with its highest volume trading pairs being .
|Hermez Network Price||$5.5660|
|Price Change (24hr)|
|Market Cap||$29.80M |
|Trading Volume (24hr)||$2.14M|
Transparent Vol. (24hr)
7D Price Prediction
|1st 1D Candle||Oct '20|
|1st Trade||Nov '20|
|1st Orderbook||Oct '20|
Hermez is a decentralized zk-rollup which allows for scaling payments and token transfers on top of the Ethereum public blockchain.
Hermez 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, handling data availability on-chain but computation off-chain.
Additionally, utilizing zero-knowledge proofs 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 on-chain, Hermez relies on the same security assumptions as Ethereum. This means Hermez is as censorship-resistant as Ethereum.
One of Hermez's most important features is how the protocol decides who the next rollup batch creator should be. Hermez integrates an auction among users that want to become a coordinator, the batch creator in the Hermez ecosystem.
Coordinators bid the number of HEZ tokens they are willing to donate to obtain the right to create the next batch. The winning bid is the highest amount of tokens, and this address is assigned the right to create the next batch.
In the Hermez Network, this mechanism is referred to as Proof-of-donation. With Proof-of-donation, 40% of each bid goes back to Ethereum Layer 1 as a donation. 30% gets burnt, increasing the overall value of the whole token holders. The other 30% gets distributed among the network participants to reward users.
A novel technical feature is Hermez's Massive Migration mechanism. With Massive Migrations (MM), users will be able to deal with external L1 smart contracts in the same way that they transfer tokens to another Layer 2 network user.
Hermez is being built by the team who built the Circom and SnarkJS libraries that power Tornado Cash, Semaphore, and Zkopru. Jordi Baylina, Hermez’s Technical Lead, created the Circom language to implement zero-knowledge circuit compilation.
As a proud member of the open-source community, Hermez has published its smart contracts and Circom circuits on Github and invites all developers in the world to contribute to the project.Read More