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Binance Labs has announced an investment in Hemi Labs, the developer of Hemi Networkâa Layer-2 blockchain aimed at integrating Bitcoin and Ethereum for enhanced scalability and interoperability. This move reflects Binance Labs' continued commitment to advancing decentralized technologies and fostering innovation within the blockchain space.
Hemi Network focuses on improving interoperability between Bitcoin and Ethereum through its Hemi Virtual Machine (hVM) and Proof-of-Proof (PoP) consensus mechanism. The network aims to create a scalable, secure platform for decentralized applications (hApps), allowing seamless asset transfers across both blockchain ecosystems.
Binance Labs' investment will accelerate Hemi's development, with upcoming releases focusing on cross-chain tunneling, AI data anchoring, and decentralized finance (DeFi) applications.
Alex Odagiu, Investment Director at Binance Labs, said, "We are excited to support Hemi Labs in building a more unified and scalable blockchain ecosystem."
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