Tether launches on Hermez rollup as Ethereum starts falling behind
Cointelegraph
Published Apr 19, 2021 07:30AM ET
Updated Apr 19, 2021 09:20AM ET
Tether (USDT) has now launched on Hermez Network, an Ethereum scalability solution based on the zk-rollup concept. Rollups provide a way of batching or “rolling up” transactions to lighten the load on the Ethereum network.
The key to rollups is the concept of data availability, which means that the state data of the rollup is always fully available on-chain. In practice, this means that the Ethereum network knows the token balances of all user accounts on the Hermez rollup after every transaction, and this knowledge can be used to rapidly withdraw funds and distribute them to their new owners in the event of malfunctions.
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Written By: Cointelegraph
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