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Hermez Network priceHEZ
Hermez Network price calculator
More cryptocurrencies calculator >Hermez Network price live data summary
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About Hermez Network (HEZ)
What is Hermez Network (HEZ)?
Hermez is a revolutionary system that enables the scaling of payments and token transfers on top of the Ethereum public blockchain. With high-frequency tokens such as ETH, DAI, Tether, and wBTC in mind, Hermez is designed to provide a decentralized infrastructure of smart contracts and open source tools that empower a new wave of participants to engage with the network.
How does Hermez Network (HEZ) Work?
Hermez is an innovative platform that leverages the Ethereum public blockchain for data storage rather than computation. This approach enables Hermez to handle data availability on-chain while performing computation off-chain. Additionally, Hermez utilizes zero-knowledge proofs to provide an easily verifiable on-chain proof that the off-chain computations have been executed accurately. Since both the data and proof are available on-chain, Hermez relies on the same security assumptions as Ethereum, making it as censorship-resistant as Ethereum. Furthermore, Hermez integrates an auction system where potential coordinators bid the number of tokens they are willing to donate to become the next batch creator. This unique approach allows for a fair and transparent process for deciding who the next rollup batch creator should be.
What is the HEZ Token?
The Hermez Network Token (HEZ) serves as the primary economic driver for the Hermez network. By using HEZ, users can bid for coordinator slots and donate, burn, and incentivize active network usage and engagement. This economic design was intentionally built into the core protocol from the start.
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Hermez Network Social Data
In the last 24 hours, the social media sentiment score for Hermez Network was 3, and the social media sentiment towards Hermez Network price trend was Bullish. The overall Hermez Network social media score was 0, which ranks 1481 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Hermez Network being mentioned with a frequency ratio of 0%, ranking 1481 among all cryptocurrencies.
In the last 24 hours, there were a total of 26 unique users discussing Hermez Network, with a total of Hermez Network mentions of 2. However, compared to the previous 24-hour period, the number of unique users increase by 4%, and the total number of mentions has decrease by 71%.
On Twitter, there were a total of 0 tweets mentioning Hermez Network in the last 24 hours. Among them, 0% are bullish on Hermez Network, 0% are bearish on Hermez Network, and 100% are neutral on Hermez Network.
On Reddit, there were 0 posts mentioning Hermez Network in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 0% .
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