Hemi Labs has successfully raised $15 million in a funding round led by Binance Labs to launch a modular blockchain. The Hemi testnet is currently operational, and there are plans to launch the mainnet in the fourth quarter.

According to Coindesk's report on September 18, Hemi Labs, co-founded by Bitcoin developer Jeff Garzik, announced the completion of a $15 million financing round for the development and launch of Hemi, a second-layer blockchain network built on Bitcoin and Ethereum. This round of financing was led by Binance Labs, Breyer Capital, and Big Brain Holdings.Breyer Capital was an early investor in Facebook, Circle, and Spotify. As a single blockchain and a second-layer solution for both Bitcoin and Ethereum, the Hemi network aims to combine the strengths of the two networks, integrating the security of Bitcoin with the liquidity and programmability of Ethereum. Garzik stated that the most attractive approach to building a second-layer network is to simultaneously build on Bitcoin and Ethereum. Currently, Hemi's incentive testnet is live, with the mainnet scheduled for launch in the fourth quarter of this year. Other participating investors include well-known institutions such as Crypto.com, Web3 Ventures, and HyperChain Capital.

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Breaking news from TechFlow in the blockchain industry, on September 18th, as reported by Coindesk, Hemi Labs, co-founded by Bitcoin developer Jeff Garzik, announced the completion of a $15 million financing round to develop and launch Hemi, a second-layer blockchain network built on Bitcoin and Ethereum. This round of funding was led by Binance Labs, Breyer Capital, and Big Brain Holdings.
Breyer Capital, known for its early investments in Facebook, Circle, and Spotify, is one of the lead investors. The Hemi network, as a singular blockchain and a second-layer solution for Bitcoin and Ethereum, aims to combine the strengths of both networks, merging Bitcoin's security with Ethereum's liquidity and programmability. Garzik stated that the most attractive approach in building a second-layer network is to simultaneously leverage Bitcoin and Ethereum. Currently, Hemi's incentivized testnet is live, with the mainnet scheduled for launch in the fourth quarter of this year. Other participating investors include Crypto.com, Web3 Ventures, HyperChain Capital, and other well-known investment firms.
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Modular blockchain project Hemi Labs secures 15 million US dollars in funding, led by Binance Labs

BlockBeats news, on September 18th, according to Coindesk, Hemi Labs, a team founded by legendary Bitcoin developer Jeff Garzik, has completed a $15 million financing round. This round of financing was led by Binance Labs, Breyer Capital, and Big Brain Holdings, with participation from Crypto.com, Web3 Ventures, HyperChain Capital, Alchemy, SALT Fund, Kelly Investments, Sunflower Capital, DNA Fund, Gate Ventures, Quantstamp, TRGC, BTC INC, Artichoke Capital, Cypher Capital, SNZ Holding, C6E, IBG Capital, Protein Capital, MON Ventures, SV5, Impossible Finance, Jihan Wu, George Burke, and Sonny Singh. The financing will be used to develop and launch the Layer 2 blockchain Hemi Network based on Bitcoin and Ethereum.

BlockBeats news, on September 18th, according to Coindesk, the team Hemi Labs founded by legendary Bitcoin developer Jeff Garzik has completed a $15 million financing round. This round of financing was jointly led by Binance Labs, Breyer Capital, and Big Brain Holdings. Other participants include Crypto.com, Web3 Ventures, HyperChain Capital, Alchemy, SALT Fund, Kelly Investments, Sunflower Capital, DNA Fund, Gate Ventures, Quantstamp, TRGC, BTC INC, Artichoke Capital, Cypher Capital, SNZ Holding, C6E, IBG Capital, Protein Capital, MON Ventures, SV5, Impossible Finance, Jihan Wu, George Burke, and Sonny Singh. The financing will be used to develop and launch the Layer 2 blockchain Hemi Network based on Bitcoin and Ethereum.

Hemi Labs has completed a $15 million financing round, with leading investment from Binance Labs and participation from Wu Jihan.

Hemi Labs, founded by Jeff Garzik, has completed a $15 million financing round led by Binance Labs, Breyer Capital, and Big Brain Holdings. The funding, which also saw participation from numerous other investors including Jihan Wu, will be used to develop and launch the Hemi Network, a Layer 2 blockchain solution based on Bitcoin and Ethereum.

BlockBeats news, on September 18, according to Coindesk, the team Hemi Labs founded by legendary Bitcoin developer Jeff Garzik has completed $15 million in financing. This round of financing was jointly led by Binance Labs, Breyer Capital and Big Brain Holdings, and Crypto.com, Web3 Ventures, HyperChain Capital, Alchemy, SALT Fund, Kelly Investments, Sunflower Capital, DNA Fund, Gate Ventures, Quantstamp, TRGC, BTC INC, Artichoke Capital, Cypher Capital, SNZ Holding, C6E, IBG Capital, Protein Capital, MON Ventures, SV5, Impossible Finance, Jihan Wu, George Burke and Sonny Singh participated in the investment. The financing funds will be used to develop and launch the Hemi Network, a Layer 2 blockchain based on Bitcoin and Ethereum.

Hemi Labs Secures $15 Million in Funding to Develop Layer 2 Blockchain Network

Binance Labs announced an investment in Hemi Labs, a modular blockchain network that aims to achieve better scalability, security and interoperability by integrating Bitcoin and Ethereum. Hemi plans to release multiple updates including AI data anchoring and DeFi applications in the next 12 months. 

Odaily Planet Daily News: Modular blockchain development company Hemi Labs announced the completion of a $15 million financing round, led by Binance Labs, Breyer Capital, and Big Brain Holdings. Participants include Crypto.com, Web3 Ventures, HyperChain Capital, Alchemy, SALT Fund, Kelly Investments, Sunflower Capital, DNA Fund, Gate Ventures, Quantstamp, TRGC, BTC INC, Artichoke Capital, Cypher Capital, SNZ Holding, C6E, IBG Capital, Protein Capital, MON Ventures, SV5, Impossible Finance, Jihan Wu, George Burke, and Sonny Singh. It is reported that they plan to launch the mainnet in the fourth quarter. (Blockworks)

Hemi Labs has completed a 15 million US dollars financing round, led by Breyer Capital and Binance Labs.

Wu learned that Binance Labs announced an investment in Hemi Labs, with the specific investment amount undisclosed. Hemi is a modular blockchain network aimed at achieving enhanced scalability, security, and interoperability by integrating Bitcoin and Ethereum. This round of funding will be used to accelerate the decentralized application development of Hemi, enhance interoperability between Bitcoin and the Hemi Virtual Machine (hVM), and improve blockchain settlement speed. Hemi plans to release multiple updates, including AI data anchoring and DeFi applications, within the next 12 months.

Wu learned that Binance Labs announced an investment in Hemi Labs, with the specific investment amount undisclosed. Hemi is a modular blockchain network that aims to achieve better scalability, security, and interoperability by integrating Bitcoin and Ethereum. This round of financing will be used to accelerate the development of decentralized applications for Hemi, enhance interoperability between Bitcoin and the Hemi Virtual Machine (hVM), and improve blockchain settlement speed. Hemi plans to release multiple updates in the next 12 months, including AI data anchoring and DeFi applications.

Binance Labs announced investment in modularized blockchain network Hemi Labs.

BlockBeats news, on September 18th, according to official sources, Binance Labs announced an investment in Hemi Labs, the developer of the modular blockchain network Hemi Network.It is reported that Hemi is a modular blockchain network designed to achieve excellent scalability, security, and interoperability, unifying Bitcoin and Ethereum into components of a new super network.

BlockBeats news, on September 18th, according to official sources, Binance Labs announced an investment in Hemi Labs, the developer of the modular blockchain network Hemi Network. It is reported that Hemi is a modular blockchain network aimed at achieving superior scalability, security, and interoperability, unifying Bitcoin and Ethereum as components of a new super network.

Binance Labs announced an investment in Hemi Labs.

Binance Labs has announced an investment in Hemi Labs, the developer of the modular blockchain network, Hemi Network. This network aims to enhance scalability, security, and interoperability by integrating Bitcoin and Ethereum into a unified super network.

BlockBeats news, on September 18, according to official news, Binance Labs announced an investment in Hemi Labs, the developer of the modular blockchain network Hemi Network. It is reported that Hemi is a modular blockchain network designed to achieve excellent scalability, security and interoperability, unifying Bitcoin and Ethereum as components of a new super network.

Binance Labs Invests in Modular Blockchain Developer Hemi Labs

According to official news on September 18th, Binance Labs announced an investment in Hemi Labs to promote modular blockchain scalability and interoperability.

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Breaking news from TechFlow on September 18th, according to official sources, Binance Labs announced an investment in Hemi Labs to drive modular blockchain scalability and interoperability.
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Binance Labs announced an investment in Hemi Labs

Foresight News: Binance Labs invests in Hemi Labs to drive modular blockchain scalability and interoperability.

Binance Labs invests in Hemi Labs

Odaily Planet Daily News: Binance Labs announced an investment in Layer 2 blockchain network development company Hemi Labs. The specific investment amount in Hemi Labs has not been disclosed yet. This investment aims to promote modular blockchain scalability and interoperability.

Binance Labs announces investment in Layer 2 blockchain development company Hemi Labs

Hemi Labs, led by former Bitcoin core developer Jeff Garzik, has raised $15 million from Binance Labs, Breyer Capital, and Big Brain Holdings to develop a new blockchain network named Hemi. This network aims to integrate Bitcoin and Ethereum into a unified system, featuring the Hemi Virtual Machine (hVM) which allows embedding a Bitcoin node within the Ethereum environment. The project's testnet is live, with a mainnet launch planned for late 2024. Hemi's innovative Proof-of-Proof (PoP) consensus mechanism, developed from Veriblock's field tests, enhances transaction security and finality. The network also plans to support various blockchain integrations and the Lightning Network for instant payments, aiming for greater interoperability between major blockchain platforms.

 Hemi Labs, the brainchild of former Bitcoin core developer Jeff Garzik, has secured $15 million in a funding round led by Binance Labs, Breyer Capital and Big Brain Holdings to develop its new blockchain network, Hemi.    The network is designed to integrate Bitcoin and Ethereum into a single, modular system. The investment will support Hemi’s development ahead of its planned mainnet launch in late 2024. The project’s incentivized testnet is already live.    Garzik is skeptical of most of the projects calling themselves layer-2’s whether on Ethereum or Bitcoin. He prefers an approach that tries to “unify the experience across both chains.”    “What comes next after Bitcoin L2s? A next generation network marrying the king and queen of crypto, Bitcoin and Ethereum,” Garzik told Blockworks.    A central feature of the network is the Hemi Virtual Machine (hVM), which embeds a Bitcoin node within the Ethereum environment, specifically a custom version of the Geth execution client.    Hemi’s consensus mechanism, Proof-of-Proof (PoP), is also novel, arising out of field tests by Veriblock, prior to Hemi Labs’ acquisition of the company in 2023. Veriblock co-founder Max Sanchez came aboard as Hemi’s CTO.    “We have myself, Max and other Bitcoin core dev-level developers building deep in the Geth and Bitcoin core engine,” Garzik said.    This integration allows developers to create dapps that operate across both networks using familiar Ethereum tools.    Both Bitcoin and Ethereum are evolving into settlement layers, with transaction activity migrating to connected networks.    “Where we think our special sauce is on the Ethereum side, where there is very little strong marriage to Bitcoin,” Garzik said, in contrast to the “ton of L2s” on Bitcoin. “They’re all staple gunning [Ethereum Virtual machine (EVM)] on some sort of Bitcoin anchoring, but it`s a very poor integration.”    The hVM incorporates new byte codes into the EVM that talk directly to Bitcoin, Garzik explained.    “In Solidity, we can trigger Bitcoin transactions sent out on the Bitcoin main chain. We can parse incoming Bitcoin UTXOs that are inbound payments from Solidity from the EVM,” Garzik said.    The Hemi Bitcoin Kit (hBK) enables developers to work with Bitcoin more effectively, unlocking features such as trustless smart contracts and decentralized financial products that were difficult to implement directly on Bitcoin.    “This is the Bitcoin [developer] experience that I`ve wanted for almost 14 years of my being in Bitcoin,” Garzik said, pointing to the difficulty in working with Bitcoin’s limited scripting.    “Only recently have you had technologies like the BitVM vault and some of these more advanced technologies and Bitcoin anchoring,” he said.    Read more: Bitcoin rollups may be closer than we think    The PoP consensus mechanism predates BitVM but enables what Garzik calls &#8220;superfinality,&#8221; securing transactions with minimal delay — 2 hours or 12 Bitcoin blocks for “full finality” — in contrast to other optimistic fraud proof systems.    By using normal Bitcoin transactions, “it`s maximally censorship resistant [and] maximally compatible,” Garzik said.    Hemi does plan to support BitVM vaults as a primary Bitcoin bridging solution—Garzik prefers the term “tunneling” as one on-ramp, in addition to an Ethereum bridge. In 2025, he expects to add bridging capability to Solana, Avalanche, and “other ones that have staying power in the market.”    The team also plans to implement the Lightning Network for instant payments.    Garzik described the Hemi project as a practical step toward greater interoperability between leading blockchain platforms. He emphasized that the network is designed to offer developers a modular approach that can adapt to changes in the ecosystem while maintaining strong security guarantees.    “I like to call Ethereum the Grand Central Station of crypto, and Bitcoin the root of the crypto tree.”        Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.    Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.    The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.  

Hemi Labs Raises $15 Million to Develop Blockchain Integrating Bitcoin and Ethereum

Hemi Labs has successfully secured $15 million in funding to develop the Hemi Network, a layer-2 network designed to enhance DeFi applications on Bitcoin and Ethereum. The funding round was led by Breyer Capital and Binance. Co-founded by Jeff Garzik, an early Bitcoin developer, Hemi Labs aims to launch this network on the mainnet by Q4 2024.

Hemi Labs has closed a $15 million funding round led by Breyer Capital and Binance. The company, co-founded by early Bitcoin developer Jeff Garzik, is building Hemi Network, a layer-2 network that supports DeFi applications interacting with both Bitcoin and Ethereum. The funds raised will support the development of the network, which aims to deploy on mainnet in Q4 2024.

Hemi Labs Secures $15 Million for Bitcoin and Ethereum Layer-2 Network Development

Binance Labs, the venture capital and incubation arm of Binance, has invested in Hemi Labs, creators of the Hemi network, a Layer-2 blockchain network that integrates Bitcoin and Ethereum. This investment highlights Binance Labs' commitment to supporting innovative blockchain projects that enhance security and programmability. Hemi Labs aims to connect Bitcoin and Ethereum in a scalable way, with Binance Labs' support expected to accelerate their growth and impact on the blockchain ecosystem.

Binance Labs, the venture capital and incubation arm of Binance, announced that it has invested in Hemi Labs, creators of Hemi, a pioneering Layer-2 blockchain network that integrates Bitcoin and Ethereum for enhanced security and programmability. This investment underscores Binance Labs’ commitment to supporting projects that leverage next-generation decentralized technologies to push the boundaries of blockchain innovation. “We look forward to supporting Hemi Labs as they work on a critical infrastructure that connects Bitcoin and Ethereum in a modular and scalable way. Hemi’s approach aligns with our commitment to supporting strong founders of projects focused on building practical, decentralized solutions with long-term potential,” said Alex Odagiu, Chief Investment Officer at Binance Labs. “We are excited to have Binance Labs as a key partner in our mission to reshape the blockchain landscape,” said Jeff Garzik, CEO of Hemi Labs. “Binance Labs’ investment and global network will be instrumental in accelerating our growth and helping us realize our vision of creating a more unified and efficient blockchain ecosystem.” https:\/\/twitter.com\/BinanceLabs\/status\/1836389800062169255 *This is not investment advice.

Binance Labs Invests in Hemi Labs to Enhance Bitcoin and Ethereum Integration

Hemi Labs raised $15 million in funding to launch the Hemi Network, a modular blockchain network undergirded by both Bitcoin and Ethereum. The funding round was led by Binance Labs, Breyer Capital, and Big Brain Holdings, with additional support from various other investors. The Hemi Network features the Hemi Virtual Machine for building Bitcoin- and Ethereum-compatible smart contracts, and the Hemi Bitcoin Kit for creating Bitcoin-native applications. The company plans to launch its mainnet in the fourth quarter of this year.

Hemi Labs raised $15 million in funding to launch the Hemi Network, a modular blockchain network undergirded by both Bitcoin and Ethereum.Binance Labs, Breyer Capital and Big Brain Holdings led the round. Additional support came from Crypto.com, Web3 Ventures, HyperChain Capital, Alchemy, SALT Fund, Kelly Investments, Sunflower Capital, DNA Fund, Gate Ventures, Quantstamp, TRGC, BTC INC, Artichoke Capital and Cypher Capital, among others, according to a company release.Hemi Network features include the Hemi Virtual Machine, which lets developers build Bitcoin- and Ethereum-compatible smart contracts, as well as the Hemi Bitcoin Kit, which lets individuals create staking, MEV marketplaces and other Bitcoin-native applications by directly accessing the granular Bitcoin state, the company release said.The firm has launched the Hemi Network incentivized testnet and intends to launch its mainnet in the fourth quarter of this year.“Hemi is transforming how Bitcoin and Ethereum interact, and not merely providing a bridge between the two largest networks in the blockchain ecosystem, but a supernetwork that most elegantly marries the capabilities of both,” said Big Brain Holdings Managing Partner Sam Kim in a statement.

Hemi Labs Secures $15 Million for Modular Blockchain Network Launch

The Hemi testnet is now live, with a mainnet launch planned for the fourth quarter.

Hemi Labs Secures $15M from Binance Labs for Modular Blockchain Launch

Hemi Labs已成功通过由币安实验室领投的一轮融资筹集了1.5亿美元，以推出一个模块化的区块链。Hemi的测试网目前正在运行，并计划在第四季度推出主网。

Hemi Labs从币安实验室获得1500万美元，用于模块化区块链的推出。

Hemi Labs已成功通過由幣安實驗室領投的一輪融資籌集了1.5億美元，以推出一個模塊化的區塊鏈。Hemi的測試網目前正在運行，並計劃在第四季度推出主網。