Business Wire IndiaBinance Labs, Breyer Capital, and Big Brain Holdings lead founding investment round to propel blockchain interoperability, scaling, and security.
Key Facts
Hemi Labs has announced a $15 million investment round to develop and launch the Hemi Network (“Hemi”). Hemi is a modular blockchain network built on Bitcoin and Ethereum, designed to deliver superior scaling, security, and interoperability.
The Hemi incentivized testnet is now live, and its mainnet launch is targeted for Q4 2024.
“We look forward to supporting Hemi Labs as they work on important infrastructure that connects Bitcoin and Ethereum in a modular and scalable way. Hemi's approach aligns with our commitment to backing projects that are focused on building practical, decentralized solutions with long-term potential," said Alex Odagiu, Investment Director at Binance Labs.
“The Hemi team has a clear and compelling vision for unlocking the programmability, portability, and potential of Web3. With a distinguished track record, they are uniquely positioned to deliver,” said Ted Breyer at Breyer Capital.
“Hemi is transforming how Bitcoin and Ethereum interact, and not merely providing a bridge between the two largest networks in the blockchain ecosystem, but a supernetwork that most elegantly marries the capabilities of both,” said Sam Kim at Big Brain Holdings.
"Watching Hemi build its testnet and progress towards mainnet has given me confidence in the team's skills and abilities," said Stelian Balta, Founder of HyperChain Capital. "Their product is well-engineered, technically impressive, and most importantly, it works."
Uniting the King and Queen of Crypto
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 core features include:
“The excitement for what we are building is reflected in the quality and enthusiasm of our investors and ecosystem partners," said Jeff Garzik, an early Bitcoin developer and co-founder of Hemi Labs. “They understand the uniqueness and value of Hemi’s approach to scaling and integrating the two leading blockchain networks, adding to the phenomenal growth and energy in this particular area.”
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
Telegram: https://t.me/hemi_community
LinkedIn: https://www.linkedin.com/company/hemi-labs/
About Hemi
The Hemi Network (“Hemi”) is a modular blockchain powered by Bitcoin and Ethereum that provides superior scaling, security, and interoperability. Hemi views Bitcoin and Ethereum as components of a broader supernetwork, unlocking new levels of programmability, portability, and potential. Hemi Labs is a leading developer of Web3 infrastructure and tooling, founded by renowned Bitcoin developer Jeff Garzik, and blockchain security pioneer Max Sanchez. Learn more at https://hemi.xyz/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240917913695/en/
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