EMB: March 12, 4:00 p.m. UTC
Modular Blockchain Hemi Labs unveiled his Mainnet with $ 440 million of total locked value (TVL).
Hemi, founded by Bitcoin Early Bitcoin developer, Jeff Garzik, plans to unify Bitcoin and Ethereum, the two oldest and the biggest blockchains, in “a single supernetwork”, according to an announcement sent by e-mail.
Hemi is built on Bitcoin and Ethereum to combine the best qualities of the two, taking advantage of the safety of Bitcoin and the programmability of Ethereum. The project collected $ 15 million in a financing round led by Binance Labs last September.
The project is one of the many who seek to transform the wider landscape of the blockchain, in particular with regard to decentralized finance (DEFI), by combining bitcoin and Ethereum partly partly to deep stores of value held in Bitcoin (BTC), which comfortably exceeded those of all other combined digital active.
However, Bitcoin coding does not have the possibility of natively building some of the functions that DEFI needs, such as intelligent contracts or evidence of zero knowledge, hence the need to fill this utility from Ethereum.
The company has signed dozens of deployment protocols on HEMI, including decentralized exchange sushi (DEX), a pumpbtc liquid token and Redstone and Pyth.
