On July 24th, Hemi Labs announced the launch of Hemi Network, "a modular Layer2 blockchain network focused on enabling scalability, security, and interoperability between Bitcoin and Ethereum." According to the team: "Hemi Labs was co-founded by early Bitcoin Core developer Jeff Garzik and blockchain security expert Max Sanchez, who was the lead developer of Hemi's inheritance of Bitcoin's unique security feature, the Proof-of-Proof consensus protocol."