How does Hermez improve the scalability of digital currencies?

3 answers

• Dec 17, 2021 · 3 years ago
  Hermez is a Layer 2 scaling solution that aims to improve the scalability of digital currencies. By utilizing zk-rollups, Hermez is able to bundle multiple transactions into a single proof, reducing the amount of data that needs to be processed on the Ethereum blockchain. This allows for faster and more cost-effective transactions, making digital currencies more scalable.
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• Dec 17, 2021 · 3 years ago
  Hermez works by batching multiple transactions together and submitting them as a single transaction on the Ethereum blockchain. This reduces the number of transactions that need to be processed on-chain, improving scalability. Additionally, Hermez uses zero-knowledge proofs to ensure the validity of the bundled transactions, further enhancing security and efficiency.
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• Dec 17, 2021 · 3 years ago
  Hermez, a Layer 2 scaling solution, is designed to improve the scalability of digital currencies. By leveraging zk-rollups, Hermez is able to aggregate multiple transactions into a single proof, significantly reducing the load on the Ethereum blockchain. This results in faster transaction processing times and lower fees, making digital currencies more scalable and accessible to a wider audience.
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