Main Takeaways:
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Binance Labs has invested in Hemi Labs, the creator of Hemi, a pioneering Layer-2 blockchain network that integrates Bitcoin and Ethereum for enhanced security and programmability.
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This investment underscores Binance Labs' commitment to supporting projects leveraging next generation decentralized technologies to push the boundaries of blockchain innovation.
Binance Labs has invested in Hemi Labs, the creator of the Hemi Network (“Hemi”). Hemi is a modular blockchain network designed for superior scaling, security, and interoperability, unifying Bitcoin and Ethereum as components of a novel supernetwork.
Hemi is focused on advancing the technical, economic, and social layers that reside between the industry’s two largest and most utilized protocols. By combining Bitcoin’s robust security and capital base with Ethereum’s flexibility and programmability, Hemi is addressing an underserved intersection of Web3, opening new avenues for builders and investors.
The new capital will accelerate Hemi's growth by advancing decentralized applications (hApps), improving Bitcoin interoperability with the Hemi Virtual Machine (hVM), and refining secure asset transfers between Bitcoin and Ethereum. It will also scale Hemi's decentralized sequencers and Proof-of-Proof (PoP) consensus for faster, more secure blockchain settlements.
The company is set to release major updates within the next 12 months, including new use cases for their trustless cross-chain tunneling system, secure data anchoring for AI, and decentralized finance (DeFi) applications, all powered by Bitcoin and Ethereum.
“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 strong founders of projects that are focused on building practical, decentralized solutions with long-term potential,” said Alex Odagiu, Investment Director at Binance Labs.
“We are thrilled to have Binance Labs as a key partner in our mission to reshape blockchain infrastructure. Binance Labs' investment and global network will be instrumental in accelerating our growth and helping us deliver on our vision to create a more unified and efficient blockchain ecosystem,” said Jeff Garzik, CEO of Hemi Labs.
