The Hemi Network is one of the most exciting upcoming Bitcoin L2’s, initially gaining attention due to its cofounder Jeff Garzik’s background as a Bitcoin core developer. The story doesn’t end at superficial details, however, as Hemi has developed its own novel consensus mechanism (Proof of Proof or “PoP”) meant to bridge the gap between Bitcoin and Ethereum.

By integrating a full Bitcoin node into the EVM, allowing developers and users to access Ethereum’s programmability while retaining the security offered by the Bitcoin network. Given the incredible run of BTC over the last year, the world’s eyes are on the Bitcoin ecosystem and Hemi is well positioned to take advantage of this. The superior interoperability offered by its approach versus competitors offers a good narrative for the token, especially as BTC and ETH are the only two crypto assets with US ETFs currently.

Hemi's mainnet launchdate has now officially been announced for March 12, 2025 and will feature dozens of protocols ready to deploy as well as $300M in TVL already locked in from partners. Given the uncertainty in the market it's a tough time to be launching, however BTC has been the most resilient through the recent slump and we expect the Bitcoin ecosystem to retain similar strength.