The HEMI token is the native utility and governance token of the Hemi Network, a modular Layer 2 blockchain. The Hemi Network is specifically designed to bridge the gap between the robust security of Bitcoin and the versatile smart contract functionality of Ethereum.
Hemi aims to create a unified, interoperable platform where developers can build decentralized applications (DApps) that seamlessly interact with both Bitcoin and Ethereum ecosystems. Its core technology includes the Hemi Virtual Machine (hVM), which is an EVM-compatible environment that embeds a full Bitcoin node, allowing smart contracts to directly access Bitcoin data.
The network uses a unique consensus mechanism called Proof-of-Proof (PoP), which anchors the Hemi network's state to the Bitcoin blockchain to achieve enhanced security. The HEMI token is essential for protocol governance (via staking) and will eventually be used to pay for network transaction fees. The project has been backed by notable venture capital firms and founded by seasoned blockchain developers, including an early Bitcoin core developer.
