Hemi (HEMI) is a modular layer 2 blockchain protocol that aims to connect the security of Bitcoin with the programmability of Ethereum, creating a "super network" for interoperable decentralized finance (DeFi). It allows developers to create applications that operate between both networks, using its native token, HEMI, for transactions and governance.
Key Features:
Interoperability: Connects the ecosystems of Bitcoin and Ethereum, which were previously isolated, allowing the development of hybrid decentralized applications (dApps).
Bitcoin Security: Incorporates the security and finality of Bitcoin through its consensus mechanism Proof of Proof (PoP), linking the network to Bitcoin for enhanced security.
Ethereum Programmability: Utilizes the Hemi Virtual Machine (hVM), which is compatible with the Ethereum Virtual Machine (EVM) and has direct access to Bitcoin data.
HEMI Token: The native token is used to execute smart contracts, conduct cross-border transfers, for validator staking, and for network governance.
Usage and Purpose:
Hybrid dApps: Hemi allows developers to build decentralized applications (dApps) that can leverage the features of both blockchains.
DeFi Applications: Facilitates the creation of more scalable and efficient decentralized finance (DeFi) solutions by bridging the liquidity and functionalities of both ecosystems.
Governance: HEMI token holders can participate in the governance of the protocol by voting on proposed changes.
