Merlin Chain (MERL) has been launched on HotsCoin on April 19. Merlin Chain (MERL) is a native Bitcoin Layer 2 network that aims to empower Bitcoin’s native assets, protocols and products through its Layer 2 network, allowing Bitcoin is fun again. Merlin Chain integrates the ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud proof module to provide enhanced support and security for the Bitcoin ecosystem. MERL is currently open for trading on HotsCoin.
Token information
Token symbol: MERL
Total number of tokens: 2,100,000,000
Technical features
ZK-Rollup Network: Merlin Chain leverages the ZK-Rollup network to verify commitments, providing enhanced support for the Bitcoin network. This technology allows for large-scale batch processing on-chain, thereby increasing the scalability of the network.
Decentralized oracle network: Merlin Chain integrates a decentralized oracle network to ensure the reliability and security of data on the chain. This network can provide external data to on-chain smart contracts, allowing them to interact with the real world.
On-chain BTC fraud proof module: Merlin Chain allows challengers to propose fraud proofs, using the consensus mechanism of the Bitcoin network to ensure the security of the Merlin Chain network. This module ensures that users within the ecosystem have a secure, practical, comprehensive, cost-effective network environment.
Functions and goals
Expanding Bitcoin’s native innovation: Merlin Chain aims to extend the native innovation of Bitcoin Layer 1 to Layer 2, including supporting various Bitcoin Layer 1 assets, building dApps with Bitcoin’s “fully on-chain” spirit, and community-driven assets Release method.
EVM Compatibility: Merlin Chain provides EVM compatibility, supporting most existing smart contracts, developer tools and wallets, ensuring seamless interoperability.
Low cost and high performance: Using ZK proof combined with zkSNARK, Merlin Chain reduces L1 space consumption and optimizes users’ transaction costs. Enable fast network finalization through frequent validity proofs and ultimate scalability through recursive STARKs.
Team and background
Bitmap Tech, the team behind Merlin Chain, is a leading OG team with a total market capitalization of over $500 million. Bitmap Tech’s BRC-420 “Blue Box” series has become one of the most popular assets on Ordinals. The team has rich experience and technical strength in the blockchain field, providing a solid foundation for the development of Merlin Chain.
in conclusion
In general, Merlin Chain, as the Bitcoin layer 2 network, uses advanced technology and rich experience to inject new vitality into the development of the Bitcoin ecosystem. Through its ZK-Rollup network, decentralized oracle network and on-chain BTC fraud proof module, Merlin Chain provides a safe, efficient and low-cost solution, laying a solid foundation for the future development of Bitcoin.