Instead of typically operating on its own independent blockchain, HEMI is built as an ERC-20 token on the Ethereum (ETH) network, an existing large and reliable blockchain. This choice forms the foundation of HEMI's technical infrastructure and brings with it a complex set of principles:
* Mainnet Security and Distribution (Ethereum): The most critical layer of HEMI's technical infrastructure is Ethereum. Ethereum is a public, permissionless blockchain operated by thousands of distributed nodes. These nodes verify and record every transaction and every smart contract state on the network. HEMI automatically benefits from the security, censorship resistance, and availability provided by this massive distributed structure. This allows HEMI transactions to be synchronized globally without relying on a central server or bank.
* Smart Contracts and Token Logic: HEMI's existence and all its functions are governed by a smart contract, a specialized computer program deployed on the Ethereum blockchain. This contract is the set of codes that determines the total supply of HEMI, how it will be transferred from one address to another, and the rules for its specific functions, such as governance and staking. The ERC-20 standard is the technical language that makes this contract compatible with other Ethereum-based wallets, exchanges, and protocols.
* HEMI Token Transfer Process: When a user A wants to send HEMI to user B, this is not a simple accounting process. User A signs the transaction and publishes it to the Ethereum network. This transaction is verified by other nodes on the blockchain and sent to the HEMI smart contract. The contract checks whether A's balance is sufficient. If so, it updates the contract's internal ledger record, subtracting it from A's balance and adding it to B's. This record is irreversibly written into the next block. Operating Principle: Governance and Utility
HEMI Coin generally functions as a "utility" and "governance" token. This means it plays an active role in the operation of the protocol, rather than simply being a means of transferring value.
* Governance Mechanism: The complex and decentralized decision-making process that determines the future development of the protocol. HEMI holders gain the right to vote on protocol-related proposals (e.g., changing transaction fees, adding new features, or updating core protocol parameters) by locking (staking) their tokens or voting to a dedicated address. Voting weight is typically proportional to the amount of HEMI held and locked. This system ensures that HEMI's development is entrusted to a distributed community of token holders, rather than a single central authority (a company or founding team). This is one of the most complex and fundamental principles: the transition to a Decentralized Autonomous Organization (DAO) structure. * Staking and Reward Mechanism: Users contribute to the security and liquidity of the network by locking their HEMI tokens in a smart contract for a specific period (staking). This action technically removes the token temporarily from circulation and, in return, allows users to earn staking rewards in the form of newly minted HEMI tokens or a share of the transaction fees collected by the protocol. This is an economic incentive mechanism that encourages the commitment of capital to the protocol over time.
* Transaction Fees (Gas Fees) and Economics: Specific operations on the HEMI protocol (specific functions of the protocol) may require additional fees, typically paid in HEMI tokens. Transactions on the main Ethereum network always require ETH (Gas), but the use of HEMI within the HEMI protocol's economic cycle strengthens the token's value proposition and maintains its demand.
The HEMI Coin's technical infrastructure is a set of rules encoded in smart contracts, built on the massive and distributed Ethereum network. Its operating principle is to implement a complex digital governance model that uses this digital infrastructure to enable token holders to participate in the protocol's governance and contribute to the sustainability of the ecosystem through economic incentives. The complexity of this structure consists of interconnected layers that require both cryptography and distributed systems knowledge.