Modular blockchain Hemi Labs has introduced a mainnet value $440 million in whole (TVL).
Based by early Bitcoin developer Jeff Garzick, Hemi plans to unify two of the oldest and largest blockchains, Bitcoin and Ethereum, right into a “single supernetwork,” in line with an e mail announcement.
Hemi is constructed on each Bitcoin and Ethereum, and combines the highest quality of each, profiting from Bitcoin safety and Ethereum’s programmatic nature. The undertaking raised $15 million in a funding spherical led by Binance Labs final September.
This undertaking is one among a number of that’s making an attempt to alter the broader blockchain panorama, notably with regard to distributed finance (DEFI), with some comfy over all different digital property mixed with deep storage (BTC) deep storage (BTC) held in Bitcoin (BTC).
Nonetheless, coding for Bitcoin doesn’t have the power to natively construct a number of the options Defi wants, similar to Good Contracts and Zero-Information proofs, so this utility should be bridged from Ethereum.
The corporate has signed up dozens of protocols for deployment to HEMI, together with Decentralized Alternate (DEX) Sushi, Liquid Staking Token Pump ButbCC, Oracle Redstone and Piss.
