Polygon and Hermez merged to take the lead
2 min readThe Polygon network announces an important and significant merger with the Hermez network. And that’s not all – the first step is a $ 250 million grant! This is the absolute first merging of one blockchain network with another.
Polygon with significant primacy
It is a second tier platform on blockchain ETH, which announces a merger with the rolling platform Hermez Network, for a transaction of $ 250 million. The agreement was concluded on August 4. Hermez will be registered in the Polygon ecosystem under the name “Polygon Hermez”. The entire Hermez project, together with its employees and the native HEZ token, will be integrated into the Polygon platform. The HEZ token will be able to be exchanged at the course 3.5 MATIC: 1 HEZ.
The combination of blockchains is a novelty
Earlier this year, other projects announced a vision for network mergers. These are companies like ETH, Keep and NuCypher. They planned to incorporate their protocols into an autonomous organization (DAO) called “Keanu”, but their brands would remain separate.
However, the connection between Polygon and Hermez carries a completely different dimension. Hermez is a zero-knowledge rollup, which basically means that mathematical evidence is used to verify and settle transactions. Rollups have thus become a more preferred scaling strategy than ETH. The network has set aside $ 1 billion to begin this major collaboration called “ZK.” The money will go mainly to the development of systems, the creation of new partnerships and other important factors.
“We consider ZK cryptography to be the most important strategic resource for blockchain scaling and infrastructure development. We have a clear goal to become a leading force and contributor in this field in the coming years. “ said the network’s co-founder, Mihailo Bjelic.
