The study of hashing is closely related to the analysis of balls and bins. Azar et. al. [1] showed that instead of using a single hash function if we randomly hash a ball into two bins and place it in the smaller of the two, then tins dramatically lowers the maximtun load on bins. This leads to the concept of two-way hashing where the largest bucket contains O(log log n) balls with high probability. The hash look up will now search in both the buckets an item hashes to. Since an item may be placed in one of two buckets, we could potentially move an item after it has been initially placed to reduce maximum load. Using this fact, we present a simple, practical hashing scheme that maintains a maximum load of 2, with high probability, while achieving high memory utilization. In fact, with n buckets, even if the space for two items are pre-allocated per bucket, as may be desirable in hardware implementations, more than n items can be stored giving a high memory utilization. Assuming truly random hash functions, we prove the following properties for our hashing scheme. Each lookup takes two random memory accesses, and reads at most two items per access. Each insert takes O(log n) time and up to log log n+ O(1) moves, with high probability, and constant time in expectation. Maintains 83.75% memory utilization, without requiring dynamic allocation during inserts. We also analyze the trade-off between the number of moves performed during inserts and the maximum load on a bucket. By performing at most h moves, we can maintain a maximum load of O(log log n/h log(log log n/h)). So even by performing one move, we achieve a better bound than by performing no moves at