Hermez Network has announced on Wednesday the launch of its zk-rollup mainnet release. This means that the network is now open for users, who can benefit from the rollup’s much lower transaction costs than Ethereum.
Zk-rollups use zero knowledge proofs to verify the correctness of a large batch of transactions. An outside ecosystem executes these transactions and generates proofs for them, which are then posted directly on the Ethereum blockchain. The result is a saving of over 10x in terms of block space, with Hermez transactions weighing just 10 bytes on the main chain, compared to more than 100 bytes for a standard Ether transfer.
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