Blockchain start-up Hemi, co-founded by early Bitcoin developer Jeff Garzik, has raised $15 million forward of the launch of its native token
Blockchain start-up Hemi, co-founded by early Bitcoin developer Jeff Garzik, has raised $15 million forward of the launch of its native token. The financing will help the rollout of a modular Layer-2 protocol that goals so as to add smart-contract performance to Bitcoin whereas offering seamless interoperability with the Ethereum community.
The spherical was co-led by YZi Labs, Republic Crypto and Hyperchain Capital, with participation from Breyer Capital, Selini Capital, Massive Mind VC, Crypto.com Capital, Quantstamp and Web3.com Ventures. Hemi stated the capital will fund engineering hires, ecosystem grants and the forthcoming mainnet launch.
Marketed as a “programmability layer” for Bitcoin, Hemi seeks to merge Bitcoin’s safety mannequin with Ethereum’s decentralized-application instruments, creating what it calls a unified supernetwork for on-chain finance. The deal reveals that traders stay keen to fund cross-chain infrastructure tasks regardless of ongoing volatility in digital-asset markets.
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