EMB: 12 March, 16:00 UTC
Modular Blockchain Hemi Labs’ revealed its mainnet with $ 440 million in the total value of Locked (tvl).
Hemi, founded by the early Bitcoin developer Jeff Garzik, plans to unite Bitcoin and Ethereum, the two oldest and largest blockchains, to “a single super network”, according to an E email message.
Hemi is built on both Bitcoin and Ethereum to combine the best qualities of both and take advantage of Bitcoin’s security and Ethereum’s programmability. The project raised $ 15 million in a financing round led by Binance Labs last September.
The project is one of several who wants to transform the wider blockchain landscape, especially in terms of decentralized financing (DEFI), by combining Bitcoin and Ethereum due to the deep values of value held in Bitcoin (BTC) that comfortably exceeds them for any other digital active combined.
However, Bitcoin’s coding lacks the ability to nuratively build some of the features that defi requires, such as smart contracts or zero knowledge, and thus the need to bridge this tool from Ethereum.
The company has signed up for dozens of protocols for implementation at Hemi, including Decentral Exchange (DEX) Sushi, Liquid Staking Token Pumpbtc and Orakles Redstone and Pyth.
