July 23, 2024

Introducing Hemi: A New Vision For Layer-2 on Bitcoin and Ethereum

Say “Hi” to the Hemi Network aka Hemi, a new modular Layer-2 blockchain network designed to rethink how we scale, secure, and build on the foundations of Bitcoin and Ethereum. 

What is Hemi?

Hemi is a new modular layer-2 network that enhances scaling, security, and interoperability by approaching Bitcoin and Ethereum as “hemispheres” of a unified supernetwork, supporting the development of a new breed of blockchain applications.

How do we help developers do this? Read on…

Key Features of Hemi

Unifying Bitcoin and Ethereum — The Hemi Virtual Machine (hVM) integrates a full Bitcoin node within an Ethereum Virtual Machine (EVM), enabling developers to harness the power of both Bitcoin and Ethereum using familiar and proven development tools. 

Bitcoin Programmability — Building with the Hemi Bitcoin Kit (hBK) provides smart-contract developers direct access to highly granular views of Bitcoin’s state based on hVM’s embedded Bitcoin node — unlocking applications such as non-custodial Bitcoin staking/restaking and lending markets, democratized Bitcoin MEV marketplaces, and custom Bitcoin interoperability infrastructure; applications that were previously impractical or impossible to execute in a truly trustless, secure, and efficient way.

Superfinality — Through its Proof-of-Proof (PoP) consensus protocol, Hemi inherits Bitcoin’s full security in a truly decentralized and permissionless manner, achieving better-than-Bitcoin finality, or “superfinality,” in just a few hours. Additionally, PoP’s modular nature enables Hemi to extend this security efficiently to other blockchains.

Trustless Cross-Chain Portability — With Tunnels, Hemi delivers a Bitcoin-secured conduit for securely moving assets between chains. Hemi’s unique consensus-level knowledge of Bitcoin’s and Ethereum’s respective states enables a variety of approaches for moving assets between networks beyond the traditional methods and trust models offered by conventional bridges.

Asset Programmability — Advanced capabilities for asset programmability, including on-chain routing, which allows users to program and automate multi-step transactions capable of recalling or rerouting transactions in the event of an error. Additionally, it delivers enhanced security by applying on- and off-chain security—such as password protection, time lock, and asset key verification—to any transfer. The protocol also enables gasless transfers, allowing assets to be transferred without any native chain currency, with or without a web3 wallet. 

Why Choose Hemi

These features unlock a ton of new possibilities, enabling the creation of previously challenging or infeasible applications. These include Bitcoin restaking, Bitcoin-backed lending platforms, and decentralized Bitcoin Maximal Extractable Value (MEV) marketplaces, all executed with enhanced trust, security, and efficiency. 

Hemi’s approach to programmability and security also gives AI developers easy access to the tools for bringing Bitcoin security certainty to an increasingly uncertain AI-driven world. In other words, Hemi Labs’ work to bring Bitcoin and Ethereum — security and programmability — together also provides a lot of the heavy lifting for success in AI.

Get Involved: Participate in the Incentivized Testnet

Hemi is currently in its early public testnet phase. The incentivized testnet program called the Hemi Pilot Program will begin in late July, allowing participants to earn miles (points) and gain leaderboard status by completing tasks that support Hemi’s development and marketing efforts. This is your chance to be a part of the future of blockchain technology.

How to Join the Testnet Phase

  1. Visit the Hemi Docs: Start by reading the documentation to understand the protocol’s capabilities and requirements.
  2. Join the Community: Connect with other Hemi enthusiasts on Discord and Twitter/X to stay updated and share your progress.
  3. Complete Tasks: Participate in tasks ranging from technical development to community outreach and marketing.
  4. Earn Rewards: Accumulate “miles” and climb the leaderboard for a chance to earn rewards and recognition within the Hemi ecosystem.
  5. Refer your friends: Get rewarded for referring your friends. As the community grows, so do you!

Looking Ahead: Mainnet Launch

Following the successful completion of the incentivized testnet, Hemi’s mainnet is anticipated to launch in fall 2024. 

Learn More

Hemi envisions a future where the differences between Bitcoin and Ethereum, as well as between “blockchain” and “the Internet,” become increasingly insignificant, much like how “the Web” is “the Internet” for most people. Together, we can unlock the true potential of Bitcoin and Ethereum, creating better and more powerful decentralized applications for all.

Hemi Dev Team
Copy link