Polygon Tau ZK-Rollups Ethereum Scaling Solution HermezNetwork Rau $ 250M

On August 13, the Ethereum Polygon extension project (formerly MaticNetwork) acquired HermezNetwork, an Ethereum extension solution based on ZK-Rollups for $ 250 million. The two projects would also have combined MATIC and HEZ, the traditional symbols that were the first to operate in the crypto space. Polygon has stated that Hermez products will be integrated with Polygon and that the new position will be called "PolygonHermez". As part of the deal, the 26 Hermz employees will also join the 80-member Polygon team. Polygon co-founder Mihailo Bjelic said, “As far as we know, this is the first full integration of blockchain networks in the history of crypto. One network will absorb everyone else, including tokens, ”said AntoniMartin, business development manager. As part of the Polygon of HermezNetwork, Hermez said he would focus on developing zkEVM technology to deliver smart contracts in the ZK-Rollup. (The block)