Putting programmability into Bitcoin

TL;DR

• The Hemi Virtual Machine (hVM) is a Bitcoin Node wrapped inside a Ethereum Virtual Machine (EVM) to deliver the best-possible access to the states of both.
• The Hemi Bitcoin Kit (hBK) is a library of smart contracts for developers to take full advantage of the hVM.
• The hBK provides rich data, reliability, and security so that developers can cheaply and easily make dApps — and build on other applications.
• This level of programmability will enable Bitcoin apps that previously would have been impossible or impractical to build.

Thanks to smart contracts, Ethereum has become home to decentralized apps. Hemi unlocks a similar level of programmability for Bitcoin, enabling applications that, until now, have been somewhere between impractical and impossible.

Well, the Hemi Virtual Machine (hVM) makes it possible. The Hemi Bitcoin Kit (hBK) makes it easy. Let’s dive in.

Better Bitcoin Programmability with hBK

The hVM is based on the Ethereum Virtual Machine (EVM) and comes stocked with built-in shortcuts precompiled to abstract away complex transactions. These make it easier for developers to create their own smart contracts and, by extension, build decentralized applications. Just as important, it makes the development of such applications relatively cheap—the infrastructure is there for anyone to tap into.

Because the hVM is an EVM wrapped around a Bitcoin node, it automatically extends that easy DeFi programmability to Bitcoin-based assets. 

And the Hemi Bitcoin Kit makes dApp development even easier. The hBK is a library of smart contracts that abstract away the precompile process. They seamlessly translate smart contract queries so that data is easier to deal with.

The Hemi Bitcoin Kit brings five benefits to developers:

• Easier development: Any Bitcoin data you want is one smart contract call away.
• Rich data: You get access to data that is impractical or outright impossible to get with other solutions.
• Security and reliability: dApps get immediate information about any relevant events on the Bitcoin blockchain without having to rely on third-party relayers or trusted oracles.
• Composability: Anyone can design new layers of Bitcoin DeFi infrastructure for others on which to build.
• Cost-effectiveness: The hVM uses far less gas than other approaches and there’s no need to incentivize third-party bots to watch for and relay events.

What Developers Can Build

Some examples of unique applications that the Hemi Bitcoin Kit enables:

• Custom Bitcoin tunnels: Connect chains to the Bitcoin network using customized security, cost, and speed settings.
• Trustless BTC staking and re-staking protocols: 99% of BTC is unbridged and/or unproductive. With Hemi, BTC can be used to secure networks and earn yield. 
• Bitcoin-authenticated AI-model marketplaces: AI model owners can publish Bitcoin-secure hashes of their model weights, timestamping to Bitcoin.
• Multichain DAOs: Hemi DAOs operate across both Bitcoin and Ethereum, making decisions based on the collective input of stakeholders from both communities.

To see how you can get started making your own decentralized apps, read the whitepaper and the relevant documentation or stop by the team’s Discord.