Polygon and Hermez Network have Merged in a $250 Million Deal

　　This is the principal complete consolidation of one blockchain network into another.

　　Polygon, a “layer 2” stage on the Ethereum blockchain, is converging with rollup stage Hermez Network in a 250 million MATIC (+11.82%) bargain. The obtaining was worth about $250 million dependent on MATIC's cost on Aug. 4, when the arrangement was struck.

　　Hermez will be assimilated into the Polygon environment under the name Polygon Hermez, where it will end up being a piece of Polygon's line of items, including Polygon SDK and Polygon Avail. The whole Hermez project – its workers, innovation and local HEZ token (which holders will actually want to trade at a pace of 3.5 MATIC: 1 HEZ) – will be incorporated into Polygon's foundation.

　　Polygon's consolidation with Hermez is the principal complete consolidation of one blockchain network into another.

　　Recently, two Ethereum tasks, Keep and NuCypher, reported a consolidation of their conventions into a decentralized self-ruling association (DAO) in an undertaking nicknamed “Keanu,” yet will keep their brands and organizations isolated. Furthermore, Yearn Finance as often as possible reports consolidations and organizations, however it is muddled what's going on under the outside of those arrangements.

　　Polygon's assimilation of Hermez's group and convention is something other than what's expected altogether.

　　Hermez is a zero-information (ZK) rollup, which implies that it utilizes numerical verifications to confirm and settle exchanges. As Ethereum battles with exchange bottlenecks, rollups have arisen as the favored scaling system. Furthermore, Hermez, which is the just decentralized rollup, is a client top pick.

　　The Polygon-Hermez consolidation is important for Polygon's new essential spotlight on ZK innovation, additionally declared Friday. Polygon has made a $1 billion obligation to creating ZK-based frameworks, shaping associations, recruiting workers and getting ZK groups and undertakings like Hermez.

　　“We consider ZK cryptography the absolute most significant vital asset for blockchain scaling and foundation advancement, and we have a reasonable objective of turning into the main power and benefactor in this field for quite a long time to come,” Polygon prime supporter Mihailo Bjelic.

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