Next Generation Layer-2 Protocol Delivers the Best Access to Bitcoin Security and Deeper Interoperability Between the Two Networks That Drive the Blockchain Ecosystem
Key Facts
- Launching at the Bitcoin 2024 conference in Nashville, the largest Bitcoin gathering in the world, the Hemi Network (“Hemi”) is a modular layer-2 blockchain network built for superior scaling, security, and interoperability between Bitcoin and Ethereum.
- By approaching Bitcoin and Ethereum as components of a single supernetwork, Hemi delivers the best capabilities of both.
- Hemi was co-founded by renowned early Bitcoin developer Jeff Garzik and blockchain security pioneer Max Sanchez.
- Hemi’s novel features include “Proof-of-Proof” (PoP) consensus that utilizes (and exceeds) Bitcoin’s security, plus powerful Bitcoin/Ethereum interoperability technologies for delivering trust-critical decentralized finance and AI applications.
- The testnet and referral program are available today. The Hemi leaderboard and “Miles” program will start in one week.
NASHVILLE, Tenn.--(BUSINESS WIRE)--Hemi Labs today announced the Hemi Network (“Hemi”), a modular layer-2 blockchain network focused on delivering superior scaling, security, and interoperability between Bitcoin and Ethereum.
Hemi Labs was co-founded by early Bitcoin core developer Jeff Garzik and blockchain security pioneer Max Sanchez, who was the principal developer behind Hemi’s unique method for inheriting Bitcoin’s unique security characteristics — the Proof-of-Proof (“PoP”) consensus protocol.
A Layer-2 from a Different Point of View
Attempts to integrate and scale Bitcoin and Ethereum have tended to address the problem within their respective communities, resulting in a fractured ecosystem. Hemi instead approaches Bitcoin and Ethereum as components of a larger supernetwork. This surfaces the best capabilities of both networks and, in turn, enables a new class of previously unattainable blockchain applications.
Hemi’s powerful benefits include:
- Unifying Bitcoin & Ethereum — The Hemi Virtual Machine (hVM) integrates a full Bitcoin node within an Ethereum Virtual Machine (EVM), enabling developers to harness the power of both Bitcoin and Ethereum using familiar and proven development tools. It maintains full backwards compatibility with EVM smart contracts, auditors, and Ethereum wallets.
- Bitcoin Programmability — Building with the Hemi Bitcoin Kit (hBK) provides smart-contract developers direct access to highly granular views of Bitcoin’s state available via the hVM. This unlocks applications such as Bitcoin (re)staking, Bitcoin-enabled lending markets, and democratized Bitcoin MEV marketplaces — applications that were previously impractical or impossible to execute in a truly trustless, secure, and efficient way.
- Superfinality — Through its PoP consensus protocol, Hemi inherits Bitcoin’s full security in a truly decentralized and permissionless manner, achieving better-than-Bitcoin finality, or “superfinality” in just a few hours. Additionally, PoP’s modular nature enables Hemi to extend this security efficiently to other blockchains.
- Trustless Cross-Chain Portability — With Tunnels, Hemi delivers a Bitcoin-secured conduit for securely moving assets between chains. Hemi’s design offers new methods for moving assets between networks beyond the traditional methods and trust models offered by conventional bridges.
- Asset Programmability — Hemi’s additional asset-programmability features include on-chain routing, time-lock, and password-protect. Gasless transfer enables asset movement without requiring any native chain currency, regardless of the presence of a web3 wallet.
“As we started to develop what would eventually emerge as Hemi, we not only uncovered multiple areas where we could scale and integrate Bitcoin and Ethereum most effectively, but also make both of their capabilities more available and useful to developers,” said Jeff Garzik, co-founder of Hemi Labs. “The compounding of these discoveries and innovations results in today's announcement and I am incredibly proud of the team we have assembled that has brought Hemi to life.”
Participate in the Incentivized Testnet
The Hemi incentivized testnet and referral program are accessible today. With the points program, participants earn “Miles” and can gain recognition for tasks that support everything from Hemi’s growth to overall development and improvement. Instructions for participation are available in the Hemi documentation.
To Learn More
Website: https://hemi.xyz
Blog: https://hemi.xyz/blog/
GitHub: https://github.com/HemiLabs
Docs: https://docs.hemi.xyz
Discord: https://discord.gg/hemixyz
Twitter/X: https://x.com/hemi_xyz
LinkedIn: https://www.linkedin.com/company/hemi-labs/
About Hemi Labs
Hemi Labs is the creator of the Hemi Network (“Hemi”), a modular Layer-2 network for superior scaling, security, and interoperability, powered by Bitcoin and Ethereum. Instead of approaching Bitcoin and Ethereum as siloed ecosystems, Hemi views them as components of a single supernetwork, unlocking new levels of programmability, portability, and potential. Hemi Labs envisions a new, converged Internet ecosystem that is secure, interoperable, and ready for the many challenges of a web3 that is imminently colliding with the Internet at-large. Learn more at https://hemi.xyz/.
Contacts
Media: media@hemi.xyz
Partnerships: navigator@hemi.xyz