Hemi Labs Raises $15 Million to Build a Bitcoin-Ethereum ‘Supernetwork’

Hemi Labs Secures $15 Million to Build a Bitcoin-Ethereum ‘Supernetwork’

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Hemi Labs, a startup co-founded by former Bitcoin core developer Jeff Garzik, has secured $15 million in its initial funding round. The investment was led by notable backers including Binance Labs, Breyer Capital, and Big Brain Holdings.

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Hemi Labs’ ambitious goal is to create a new ‘supernetwork’ that seamlessly integrates the strengths of both Bitcoin and Ethereum. This innovative platform aims to leverage the security and decentralization of Bitcoin with the programmability and smart contract functionality of Ethereum.

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This groundbreaking project has the potential to revolutionize the blockchain landscape by enabling developers to build applications that can operate across both networks. The integration of these two leading cryptocurrencies could unlock a new era of interoperability and unlock exciting possibilities for the future of decentralized finance (DeFi) and Web3.

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The funding will be used to accelerate the development of Hemi Labs’ technology and expand its team of engineers and researchers. The company plans to release its first beta version of the supernetwork later this year.

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With such a strong team and a compelling vision, Hemi Labs is poised to become a major player in the rapidly evolving blockchain space. The potential impact of this project could be significant, and it will be fascinating to watch its progress in the months and years to come.