Hermez (HEZ)
(Redirected from Hermez)
Basics
- Founded in:
- Mainnet release: 24-3-2021
- Hermez zk-rollup is on Rinkeby testnet (9-3-2021).
- From EthHub #126 (10-8-2020):
"Hermez is a new zk-rollup created by Iden3’s Labs. It uses SNARKs for validity proofs with on-chain data availability and can scale Ethereum to 2000 transactions per second."
Audits & Exploits
- Bug bounty program can be found here with up to 100 ETH reward (24-3-2021).
- From Crypto Briefing (24-3-2021):
"The solution was tested and audited on Ethereum’s Rinkeby testnet before launching on mainnet."
Bugs/Exploits
Token
Token allocation
"The first-ever airdrop of HEZ tokens will be distributed to Gitcoin Round 9 MetaMask donors on Tuesday, the 4th of May."
Stablecoin
"Hermez said USDT will go live on the network when its mainnet launches in the coming weeks."
Tech
- Whitepaper can be found here (11-10-2020).
- Code can be viewed [insert here].
- Built on: is an Ethereum Layer 2
How it works
- From Crypto Briefing (24-3-2021):
"Hermez Network is a form of rollup that works by grouping transactions together to create SNARKs—succinct non-interactive arguments of knowledge. These SNARKs then get settled on the Ethereum base layer as one transaction."
Interoperability
"Hermez announced the development of a new feature in the Hermez zk-rollup that improves inter-L2 communication for the whole rollup ecosystem."
Upgrades
"The team says they have everything ready to launch the Hermez Network mainnet in the coming days. Their developer team is upgrading the code with a last-minute fix in the Poseidon hashing algorithm used in Hermez, and after this they’ll restart the Trusted Setup ceremony."
Roadmap
- Can be found here (5-2021):
- Decentralised Protocol for L2 Token Transfers Q2 2021
- Network Promotion and Smart Transactions Support Q2-4 2021
- Ecosystem Growth Q3-4 2021
- Support for New Financial Infrastructure Q4 2021 - 2022
- Privacy and Composability 2022
