Emb: March 12, 16:00 UTC
Modular Blockchain HEMI Labs announced its main netnet with $ 440 million in total blocked value (TVL).
Hemi, founded by the early Bitcoin developer Jeff Garzik, plans to unify Bitcoin and Ethereum, the two oldest and largest blockchains, in “a single supernetería”, according to an admitted advertisement.
HEMI is based on Bitcoin and Ethereum to combine the best qualities of both, taking advantage of Bitcoin’s security and the programability of Ethereum. The project raised $ 15 million in a round of financing led by Binance Labs last September.
The project is one of several that seek to transform the broader blockchain panorama, particularly with respect to decentralized finances (DEFI), by combining Bitcoin and Ethereum due in part to deep value stores in Bitcoin (BTC), which comfortably exceeds those of all other combined digital assets.
However, Bitcoin’s coding lacks the ability to build natively some of the functions required, such as intelligent contracts or zero knowledge tests, hence the need to close this utility from Ethereum.
The company has registered dozens of protocols for the deployment in HEMI, including the decentralized exchange sushi (DEX), the liquid token pump and the Redstone and Pyth oracles.
