| General information | |
|---|---|
| Global rank: | 817 |
| Name: |
Hermez Network |
| Symbol: | HEZ |
| Current coin price (PHP): | 208.63 ₱ |
| Last hour: | arrow_downward-0.150 % |
| Last 24 hours: | arrow_downward-0.830 % |
| Last 7 days: | -0.700 %trending_down |
| Capitalisation (PHP): | 980 544 056.09 ₱ |
| Volume 24h (PHP): | 1 022 262.55 ₱ |
| Available supply: | 4 700 000.00 HEZ |
| Total coin supply: | -1 HEZ |
| Start date: | 2020-10-09 |
Hermez Network/Philippine Peso (HEZ/PHP) price chart
Hermez Network/Philippine Peso (HEZ/PHP) capitalisation and volume charts
Founded on October 15th, 2020 and based in Zug, Switzerland, Hermez Network is a decentralized zk-rollup focused on scaling payments and token transfers on top of Ethereum.
One of the most important things about Hermez is the way it decides who the next block creator should be, as block creators are selected via a burn auction, except rather than burning tokens, a 40% of the winning bid goes back to be reinvested in Ethereum public goods through Gitcoin quadratic funding grants.
In the Hermez Network this mechanism is referred as proof-of-donation because a significant fraction of this bid is donated to the protocols and social services that run on top of Ethereum.
Hermez Network is developed by idem3.