Binance Labs has announced its investment in Hemi Labs, the developer behind the Hemi Network, a Layer-2 modular blockchain that integrates Bitcoin and Ethereum for enhanced security, scalability, and interoperability. This investment underscores Binance Labs' commitment to advancing decentralized technologies and promoting blockchain innovation.
Hemi Network aims to combine Bitcoin’s robust security and capital base with Ethereum’s programmability, creating a new supernetwork to address gaps between the two largest blockchain protocols. The platform focuses on building decentralized applications (hApps), improving Bitcoin-Ethereum interoperability, and enabling secure asset transfers through its Hemi Virtual Machine (hVM) and Proof-of-Proof (PoP) consensus mechanism.
Binance Labs’ support will accelerate Hemi’s development over the next 12 months, with upcoming releases in trustless cross-chain tunneling, AI data anchoring, and decentralized finance (DeFi) applications.
"We are excited to support Hemi Labs in their mission to build a more unified and scalable blockchain ecosystem," said Alex Odagiu, Investment Director at Binance Labs. Jeff Garzik, CEO of Hemi Labs, added, "Binance Labs' backing will help us achieve our vision of reshaping blockchain infrastructure with cutting-edge solutions."
