Tech, Bitcoin, Ethereum, layer 2, DeFi, Jeff Garzik Hemi Labs has signed up dozens of protocols, together with decentralized trade (DEX) Sushi, liquid staking token pumpBTC and oracles RedStone and Pyth.
EMB: March 12, 16:00 UTC
Modular blockchain Hemi Labs’ unveiled its mainnet with $440 million in whole worth locked (TVL).
Hemi, based by early Bitcoin developer Jeff Garzik, plans to unify Bitcoin and Ethereum, the 2 oldest and largest blockchains, into “a single supernetwork,” based on an emailed announcement.
Hemi is constructed on each Bitcoin and Ethereum to mix the very best qualities of each, profiting from Bitcoin’s safety and Ethereum’s programmability. The challenge raised $15 million in a funding round led by Binance Labs final September.
The challenge is one of several seeking to remodel the broader blockchain panorama, notably with regard to decentralized finance (DeFi), via combining Bitcoin and Ethereum due partially to the deep shops of worth held in bitcoin (BTC), which comfortably exceed those of every other digital asset combined.
However, Bitcoin’s coding lacks the power to natively construct among the capabilities that DeFi requires, similar to sensible contracts or zero-knowledge proofs, therefore the necessity to bridge this utility from Ethereum.
The firm has signed up dozens of protocols for deployment on Hemi, together with decentralized trade (DEX) Sushi, liquid staking token pumpBTC and oracles RedStone and Pyth.
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