Binance Labs recently announced an undisclosed investment in Hemi Labs, the developer of the Hemi Network (“Hemi”).
Hemi is a modular blockchain network designed to optimize scalability, security, and interoperability, unifying Bitcoin and Ethereum into components of a new supernetwork.
The project is currently focused on developing the technical, economic, and social layers that lie between the two largest and most widely used protocols in the blockchain industry. By combining the robust security foundation and large Capital base of Bitcoin with the flexibility and programmability of Ethereum, Hemi is addressing the untapped intersection of Web3, opening up new opportunities for developers and investors.
The new Capital will help fuel Hemi’s development by enhancing its decentralized applications (hApps), improving Bitcoin interoperability with the Hemi Virtual Machine (hVM), and refining methods for securely transferring assets between Bitcoin and Ethereum. Hemi will also expand its decentralized ordering system and Proof-of-Proof (PoP) consensus to ensure higher speed and security for blockchain transactions.
The company plans to launch major updates over the next 12 months, including new use cases for trustless chain tunneling systems, secure data storage systems for artificial intelligence (AI), and decentralized finance (DeFi) applications, all powered by Bitcoin and Ethereum.
