Cypher Capital Invests in Hemi Labs for Blockchain Supernetwork

Cypher Capital's Strategic Investment

Cypher Capital, a renowned crypto investment firm, has spearheaded a $15 million seed funding round to support Hemi Labs. This initiative aims to develop the Hemi Network, a modular blockchain system that unites Bitcoin and Ethereum. The investment underscores Cypher Capital's commitment to advancing blockchain technology and fostering interoperability within the crypto ecosystem.

Hemi Labs: Pioneering Blockchain Interoperability

Hemi Labs is revolutionizing blockchain with its innovative approach to integrating Bitcoin and Ethereum into a cohesive supernetwork. The Hemi Network features the Hemi Virtual Machine (hVM), which incorporates a full Bitcoin node within an Ethereum Virtual Machine (EVM). This integration allows developers to build cross-chain smart contracts using familiar tools, ensuring compatibility with existing EVM dApps and wallets.

Key Features and Technological Advancements

The Hemi Network promises groundbreaking features such as Superfinality through its Proof-of-Proof (PoP) consensus mechanism. This ensures Bitcoin-level security in a decentralized, permissionless manner, offering Bitcoin-security-as-a-Service to other blockchain networks. Additionally, Hemi's Tunnels provide trustless cross-chain portability, enhancing traditional bridge methods. On-chain routing, time-lock, password protection, and gasless transfers facilitate seamless asset movement without relying on native chain currencies.

Vision for the Future

The partnership with Cypher Capital is pivotal for Hemi Labs as it strives to transform blockchain infrastructure. By creating a supernetwork that leverages the strengths of both Bitcoin and Ethereum, Hemi is set to unlock new possibilities for decentralized applications. The support from Cypher Capital and other investors highlights the groundbreaking potential of the Hemi Network in advancing blockchain technology.

About Cypher Capital and Hemi Labs

Cypher Capital focuses on early-strategy investments in Web3 infrastructure and applications, shaping the future of the digital economy. Hemi Labs, led by renowned developers, is at the forefront of Web3 infrastructure development, offering superior scaling, security, and interoperability solutions. Together, they envision a transformative impact on blockchain technology.