Hemi Network: A Dark Horse Project with $15 Million in Funding Announces Mainnet Launch!

Recent Updates

On March 12 at 10 AM EDT, Hemi Network announced the start of its mainnet launch day live stream on its official X account.

Introduction to Hemi Network

Hemi Network is a modular Layer 2 network that enables Ethereum smart contract functionality secured by the Bitcoin network. The chain introduces the Hemi Virtual Machine (hVM), which integrates a full Bitcoin node into the Ethereum Virtual Machine (EVM)—the core smart contract engine of Ethereum.

Core Advantages

Unified Bitcoin and Ethereum: Hemi Virtual Machine (hVM) integrates a full Bitcoin node into the Ethereum Virtual Machine (EVM), allowing developers to leverage the power of both Bitcoin and Ethereum using familiar and proven development tools.
Super Finality: Through its Proof-of-Proof (PoP) consensus protocol, Hemi inherits the full security of Bitcoin in a truly decentralized and permissionless manner, achieving "super-finality" within just a few hours.
Trustless Cross-chain Portability: Hemi provides a Bitcoin security conduit for securely moving assets between chains, offering a new method for asset transfer between networks that surpasses traditional bridging methods and trust models.

Team

Jeff Garzik: Bitcoin core developer and SegWit core contributor. Co-founder of Vesper, Bloq, and Space Chain.
Maxwell Sanchez: Co-founder of Hemi Network and VeriBlock.

Funding

On September 18, 2024, Hemi Network secured $15 million in funding, with participation from renowned institutions such as YZi Labs, Breyer Capital, Big Brain Holdings, SNZ Holding, Quantstamp, TRGC, Impossible Finance, Crypto.com Capital, Alchemy Ventures, UTXO Management, HyperChain Capital, and SALT.

Future Outlook

Hemi's Proof-of-Proof (PoP) consensus mechanism enhances security and interoperability, making it a promising solution for the future of blockchain technology. Hemi aims to unlock new possibilities for decentralized finance (DeFi) and smart contracts. This project represents an important step in the evolution of blockchain technology, offering a more integrated and efficient ecosystem for developers and users.