A second layer scaling solution for Ethereum called Hermez Network using ZK-Rollups technology has been launched.

This development means that the mainnet of Hermez has been launched and users can now make money transfers with lower gas costs.

Mr. Jordi Baylina, chief technology officer of Hermez, said:

“Everyone will save about 90% on gas costs.”

Average gas fee is currently around 16 USD per transaction. With a savings of around 90%, the cost drops to about $ 1.5 per transaction.

Besides lower fees, Hermez also has higher throughput than Ethereum, which can process more transactions per second. The current throughput of Ethereum is about 15 transactions per second. Baylina said Hermez could multiply the size of Ethereum by 100 times.

Hermez uses ZK-Rollups for his scalability. ZK-Rollups technology helps to merge hundreds of transactions into a single transaction, thereby reducing data storage fees and gas fees to authenticate transactions.

Ethereum founder Vitalik Buterin recently said that ZK-Rollups “will win in all use cases” in the medium to long term as ZK-SNARK technology improves.

See also: Vitalik Buterin: A solution to expand Ethereum “100 times higher” is coming
As for Optimistic Rollups, Buterin said the technology has a win-win in the short term for general computing purposes. At the same time, ZK-Rollups is potentially a win-win for simple payments and other app-specific use cases.

One of the first projects to integrate with Hermez was Tether. With the launch of Hermez’s mainnet, Tether’s USDT stablecoin is available on Hermez.

In addition to USDT, Hermez initially also supported Ether (ETH), Wrapped Bitcoin (WBTC), Dai (DAI), and Hermez (HEZ) tokens. That means anyone using these tokens can now use the Hermez network to make a transfer. Baylina told The Block:

“We will be adding more tokens soon. Hermez is ready to go for any ERC20 token. We expect more exchanges and wallets to integrate with Hermez. ”

Mr. Baylina added:

“While the mainnet for Hermez is officially out, there is still a lot to do. That includes making Hermez completely decentralized. ”

Mr Baylina said Hermez still has some concentration points. He said:

“In the coming weeks, we need to tweak some parameters and we hope to have a more completely decentralized governance system soon.”