Jan 11, 2021 at 12:01 p.m.UTC Scaling Solution Hermez Network Adds Tether Token to Tackle High Ethereum Fees
Hermez Network, a decentralized project focused on scaling the Ethereum network, announced it is integrating the tether (USDT) token in a bid to make transactions more affordable.USDT – a U.S.dollar-based stablecoin – will be used to provide cheaper payments and token transfers in a move to counter high “gas” fees on the Ethereum network, the company announced Monday.Hermez is a “zero-knowledge rollup” – a solution that runs as an overlay on Ethereum and helps scale the blockchain network by rolling multiple transfers into a single transaction.The gas fees required to make transactions on Ethereum having been prohibitively high in recent months, making it hard for many projects based on the network to make microtransactions.
“Hermez is excited to welcome Tether tokens as the first of many projects to join the layer two network ahead of our official launch this year,” said Jordi Baylina, tech lead at Hermez Network.The firm further hopes to create a “self-sustaining network” by reinvesting 40% of any value generated into community-driven layer-one projects.Share this: SEC Seeking ‘Smart Contract’ Tracing Tool That Can Spot Security Vulnerabilities Aug 4, 2020 at 18:19 UTCUpdated Aug 4, 2020 at 18:27 UTCSEC Seeking ‘Smart Contract’ Tracing Tool That Can Spot Security VulnerabilitiesThe U.S.Securities and Exchange Commission (SEC) wants to procure a blockchain forensics tool that can analyze smart contracts and, preferably, highlight their security issues.Issuing a “DLT Smart Contract Analysis Tool” solicitation request… Facebook’s Zuckerberg Appears to Put Libra Launch Date in Doubt news Facebook CEO Mark Zuckerberg has refused to commit to the planned 2020 launch for the Libra cryptocurrency project.Talking in interview with Nikkei on Thursday, Zuckerberg was asked about the expected date of the stablecoin’s arrival, to which he replied: “Obviously we want to move forward at some point soon [and] not have this take… NYDFS Grants BitLicense to Third Bitcoin ATM Operator news Another bitcoin ATM operator has received one of New York’s coveted BitLicenses.
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