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Activity Metrics
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What is Hemi?
Bitcoin L2 with a full Bitcoin node running inside the EVM — smart contracts can read Bitcoin blocks, UTXOs, and transactions directly. Founded by early Bitcoin developer Jeff Garzik who worked with Satoshi, launched March 2025 with $440M TVL. The key difference: hVM (Hemi Virtual Machine) wraps an entire Bitcoin node inside an EVM, enabling native Bitcoin programmability without bridges or wrapped tokens — your contracts can trigger on Bitcoin events automatically.
Best for: Bitcoin DeFi protocols, native BTC staking without wrapping, cross-chain apps needing real Bitcoin state, developers wanting Bitcoin security with EVM tools.
Technical: Modular L2 with Proof-of-Proof consensus anchoring to Bitcoin, hVM for Bitcoin state access, Tunnels for trustless asset transfer.
Security & Data Availability
- Proof-of-Proof (PoP) consensus posts "keystones" to Bitcoin for superfinality.
- PoS sequencer for fast blocks, Bitcoin anchoring for long-term security.
- Not a rollup — no fraud/validity proofs, relies on Bitcoin anchoring and honest majority.
Infra & Execution
- hVM: Full indexed Bitcoin node inside EVM — read blocks, UTXOs, transactions directly.
- Bitcoin Kit (hBK) provides granular Bitcoin state access to smart contracts.
- Automatic callbacks triggered by Bitcoin events — no oracles needed.
Performance
- Soft finality in seconds via sequencer.
- Superfinality after Bitcoin confirmation (10-60 minutes).
- Tunnels provide withdrawal proofs in 40 minutes — faster than optimistic rollups.
Use Cases
- DeFi ecosystem: Sushi, DODO, Izumi (DEXs), LayerBank, ZeroLend (lending)
- Bitcoin native apps: Native BTC staking with self-custody, Bitcoin MEV marketplaces
- Cross-chain infrastructure: LayerZero, Pyth, RedStone oracles integrated
- Institutional products: Pendle, Swell, Symbiotic yield strategies on Bitcoin
Trade-offs
- Not a true rollup — less security than fraud/ZK proof systems.
- Centralized sequencer during bootstrap phase.
- Newer ecosystem vs established Bitcoin L2s like Rootstock.
- PoP finality slower than instant rollup confirmations.
Contract Languages
This blockchain supports the following smart contract languages: