What Is Hemi (HEMI)?
Hemi is a modular blockchain network designed to connect Bitcoin and Ethereum into a unified system, expanding Bitcoin’s programmability for decentralized finance and Web3 applications. By merging the security of Bitcoin with the flexibility of Ethereum’s smart contracts, Hemi aims to position itself as a “supernetwork” where assets and applications can move seamlessly across ecosystems. Its architecture aims to overcome the limitations of existing bridges and interoperability solutions, offering users a more secure, efficient, and scalable environment for cross-chain activity.
At the heart of Hemi’s design is the Hemi Virtual Machine (hVM), which allows smart contracts written in Solidity to directly access Bitcoin’s on-chain state, including UTXOs, block headers, and Merkle proofs. To ensure robust security, Hemi employs a Proof of Proof (PoP) consensus mechanism that regularly anchors the network’s state to the Bitcoin mainnet. This enables Hemi to inherit Bitcoin’s security while still supporting faster block times and lower transaction costs, making it suitable for high-value contracts and large-scale decentralized applications.
Another core innovation, as per the project, is Hemi’s Tunnels system, a cross-chain asset channel that facilitates secure and efficient transfers between Bitcoin, Ethereum, and other networks. Unlike traditional bridges that rely heavily on intermediaries, Tunnels are designed to be decentralized and trust-minimized. The goal is to give users confidence to use BTC, ETH, and other major assets in lending, liquidity provision, NFTs, and other DeFi applications. Together, hVM, PoP consensus, and Tunnels create a framework where Bitcoin’s value can be fully unlocked within the broader Web3 ecosystem.
Hemi was founded by Jeff Garzik and Maxwell Sanchez, two long-time contributors to blockchain and open-source innovation. Jeff Garzik leads the Hemi project after more than a decade of shaping Bitcoin and blockchain development. He previously served as a Bitcoin core developer for five years and spent ten years at Red Hat. His contributions to the Linux kernel became foundational to Android devices and modern data centers. Maxwell Sanchez, Hemi’s Lead Architect, brings deep expertise in blockchain consensus and security. As co-founder and CTO of VeriBlock, he co-invented the Proof-of-Proof (PoP) protocol and designed a PoP-optimized blockchain. Active in the blockchain space since 2011, Sanchez has pioneered post-quantum cryptography testnets, uncovered critical consensus vulnerabilities, and built open-source GPU miners.
HEMI is the native utility and governance token of the network. It is required for activities such as deploying smart contracts on the hVM, accessing Bitcoin state data, and using Tunnels for cross-chain transfers. The token also plays a key role in securing the protocol, as validators stake HEMI to participate in PoP consensus and earn rewards from block validation and transaction fees. HEMI holders are also able to vote on upgrades, parameter changes, and other proposals.
The circulating supply of HEMI token is 977.5 million, with a total supply of 10 billion tokens.
HEMI token is listed on Binance for trade and purchase. The current price of HEMI is available and updated in real-time on Binance.
