Hermez Network, now known as Polygon Hermez, presents itself as an open-source ZK-Rollup designed to facilitate secure and low-cost token transfers on the Ethereum blockchain. The project claims to lower transfer costs by more than 90% while enhancing transaction throughput by over 133 times, which is aiming to promote broader adoption of financial services in the blockchain ecosystem.
By leveraging zero-knowledge technology, Polygon Hermez promotes decentralization and computational integrity while ensuring high transaction speed. Its architecture enables users to execute financial transactions efficiently with reduced costs, making it an appealing solution for an inclusive economy.
The project launches a unique initiative called Proof-of-Donation, wherein 40% of the winning bids from block creation auctions are directed towards funding Ethereum public goods. This innovative approach fosters community support and promotes the greater good in the crypto space.