Category: layer 2

Tether is launching on Hermez — an Ethereum Layer 2 scaling solution that uses ZK-Rollups

Tether is launching on Hermez — an Ethereum Layer 2 scaling solution that uses ZK-Rollups

Stablecoin Tether (USDT) is launching on Hermez Network — an Ethereum Layer 2 scaling solution that uses ZK-Rollups. Sharing the news with The Block on Monday, Hermez said USDT will go live on the network when its mainnet launches in the coming weeks. Hermez is targeting mid-February for the launch, technical lead Jordi Baylina told […]

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Layer-2 Ethereum scaling solution OMG Network gets acquired by a venture firm

Layer-2 Ethereum scaling solution OMG Network gets acquired by a venture firm

Layer-2 Ethereum scaling solution OMG Network has been acquired by Genesis Block Ventures (GBV). GBV is a subsidiary of Genesis Block, a Hong Kong-based crypto over-the-counter (OTC) trading firm. Financial terms of the acquisition were not disclosed. As part of the deal, GBV plans to grow the adoption of OMG Network (formerly OmiseGo) in Asia […]

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Aztec unveils Ethereum Layer 2 network that uses zkSNARKs for both privacy and scalability

Aztec unveils Ethereum Layer 2 network that uses zkSNARKs for both privacy and scalability

Aztec, an Ethereum startup that was initially focused on using zero-knowledge proofs to make transactions private, has unveiled a new Layer 2 platform that uses the same cutting-edge cryptography to improve scalability, too. Aztec 2.0 is based on an emerging technology known as zero-knowledge(zk) rollup. It employs a type of zk-proof called zkSNARKs to bundle […]

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