What is Hermez Network (HEZ)? High Scalability and Low Cost

Bittime - Amid Ethereum's growing popularity, scalability and gas fees have become major obstacles for users. Hermez Network (HEZ) comes as an innovative Layer-2 solution that offers high scalability, low transaction fees, and guaranteed security on the Ethereum blockchain.

What is Hermez Network (HEZ)?

Hermez Network (HEZ) is a Layer-2 zk-rollup solution designed to improve Ethereum's scalability and efficiency. The platform enables developers to build high-performance decentralized applications ( dApps ) at affordable costs.

Hermez Network (HEZ ) Key Products and Features

1. Hermez ZK-Rollup: A zk-rollup solution that enables bundling thousands of Ethereum transactions into a single transaction, thereby increasing throughput and reducing gas fees.
2. Hermez Bridge: A bridge that connects the Hermez Network with the Ethereum mainnet, enabling seamless transfer of assets and data.
3. Hermez SDK: A software development kit that makes it easy for developers to build dApps on top of the Hermez Network.
4. Hermez Wallet: A digital wallet that allows users to store, send, and receive HEZ tokens and other digital assets on the Hermez Network.

Also Read: What is a Scaling Problem?

What is HEZ Token?

The HEZ token is the native utility token of the Hermez Network. This token is used for:

1. Paying fees: Users can use HEZ tokens to pay transaction fees on the Hermez Network, such as token transfer fees and dApps usage fees.
2. Staking: HEZ token holders can stake their tokens to earn rewards and help secure the Hermez network.
3. Governance: HEZ token holders have a say in the governance of the Hermez Network, including proposals and voting for changes to the protocol.

HEZ Token Tokenomics

• Maximum supply: 1,000,000,000 HEZ
• Circulating supply: 400,000,000 HEZ
• Distribution:
  • 40%: Public sale
  • 20%: Team and advisors
  • 20%: Ecosystem and development
  • 20%: Reserve funds

Also Read: Understanding Ethereum Transactions

Hermez Network Fundamental Analysis

The fundamental analysis of Hermez Network (HEZ) covers several key aspects that influence the value and growth potential of the project. Here are four aspects of fundamental analysis that are usually considered.

1. Technology: Hermez Network uses cutting-edge zk-rollup technology that offers high scalability, guaranteed security and cost efficiency.
2. Team: The Hermez Network team consists of experienced professionals in the fields of blockchain, technology, and finance.
3. Community: Hermez Network has a fast-growing community with over 100,000 members across various social media platforms.
4. Adoption: Hermez Network has partnered with several well-known blockchain projects and is already being used by popular dApps.

Comparison of Hermez Network (HEZ) and Competitors

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Conclusion

Hermez Network (HEZ) is an innovative Layer-2 solution that offers high scalability, low transaction fees, and guaranteed security on the Ethereum blockchain. This platform has great potential to become a major player in the Ethereum ecosystem and pave the way for the future of more efficient and affordable dApps.

How to Buy Crypto with Bittime

You can buy and sell QNT tokens in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. QNT is available on Bittime with pairing to IDR

To be able to buy tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of Bittime assets is IDR 10,000. After that, you can make QNT purchases in the application. More Complete Guide How to Buy Crypto on Bittime .

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) , and other cryptos to find out today's crypto market trends in real-time on Bittime. 

Also Read:

What Are Crypto Wallets?

What is Cryptocurrency Mining?

What Is Bitcoin and How Does It Work

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.