Reading Time: 2 minutes Ethereum Layer 2 network, Hermez, was launched on the Ethereum mainnet on 24 March 2021. Hermez network uses zk-rollup technology that will facilitate fast and cheap transactions. It aims to reduce gas costs by around 90%. Hermez Network, Ethereum’s layer 2 scaling solution that uses zk-rollup technology, has gone live starting 9:30 AM UTC, 24th of March 2021. This network is intended to reduce gas costs and increase scalability for moving Ethereum and other tokens. Initially, the network will support 5 assets including ether (ETH), tether (USDT), wrapped bitcoin (WBTC), dai (DAI), and Hermez token. In the official announcement, they
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