Merlin Chain represents a Layer 2 blockchain built upon Bitcoin, employing the ZK-Rollups model alongside a decentralized oracle network and robust fraud-proof security mechanisms. Beyond facilitating the evolution of additional assets, protocols, and products on Bitcoin Layer 1 through its Layer 2 framework, Merlin Chain endeavors to inject a sense of enjoyment back into the Bitcoin experience.
In particular, the Merlin Chain initiative will extend compatibility to various applications including iZUMi Finance, Meson, Polyhedra Network, Bitmap Game, Bitmap War, and native DeFi platforms like BRC-420 Mineral, thus enriching and broadening the scope of the Bitcoin ecosystem.
Moreover, Merlin Chain serves as a subsidiary offering of Bitmap Tech, a prominent OG group boasting a collective market capitalization surpassing 500 million USD. Notably, Bitmap Tech’s BRC-420 “Blue Box” collection has previously emerged as one of the most sought-after assets on Ordinals.
Characteristics of Merlin Chain’s Offering
Merlin Chain’s Native Bitcoin Layer 2 functionality enables the seamless incorporation of assets and protocols from Layer 1 onto the Bitcoin network via Layer 2. This fosters connectivity and interoperability among diverse assets and protocols, thereby unlocking many opportunities for innovation on the Bitcoin network.
Additionally, Merlin Chain serves as a gateway to Merlin’s Seal, facilitating a connection that enables the utilization of Layer 1 assets within Merlin Chain’s Layer 2 network.
- Merlin Chain has integrated ZK-Rollup technology to bolster its performance and scalability on the Bitcoin network. By employing ZK-Rollup, Merlin Chain accelerates transaction processing and minimizes costs by bundling multiple transactions into a single generalized transaction on the blockchain.
- Merlin Chain offers robust support for widely-used Bitcoin protocols including BRC20, BRC420, Bitmap, Atomicals, Pipe, Stamp, and numerous others. This broad compatibility facilitates extensive user engagement on the Bitcoin Layer 2 network.
Main Attributes of Merlin Chain
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- Bitcoin Protocol Compatibility: Merlin Chain accommodates well-known Bitcoin protocols, fostering expanded interaction within the Bitcoin Layer 2 ecosystem.
- Utilizing ZK-Rollup for Bitcoin: Merlin Chain integrates ZK-Rollup to elevate its performance and scalability, resulting in expedited transaction processing and lowered costs.
- Innovative Development: Merlin Chain prioritizes internal innovation, striving to introduce equitable and community-driven initiatives on Layer 2. This dedication is geared towards delivering distinctive solutions tailored to the needs of the Bitcoin network and its user base.
Unique Attributes of Merlin Chain
A distinctive aspect of Merlin Chain is its BRC-420 experiment, which employs recursion to creatively define game items, animations, effects, and gameplay modules within the metaverse. Notably, all these formats will be open-source, providing opportunities for individuals to craft their own “metaverse inscriptions”.
Furthermore, BRC-420 establishes a correlation between usage rights and copyright benefits based on the same Inscription. This empowers owners to determine the distribution of usage rights and assign value to them, thus fostering the creation of new business models and promoting creativity within the Ordinals market.
Understanding the MERL Token
- Token name: Merlin
- Ticker: MERL
- Blockchain: Bitcoin, Merlin Chain
- Total supply: 2,100,000,000 MERL
- Circulating supply: 21,000,000 MERL
The Development Team of Merlin Chain
Merlin Chain operates under the umbrella of Bitmap Tech, a prominent player in this industry boasting a market capitalization surpassing 500 million USD. This affiliation underscores the project’s credibility and trustworthiness. Furthermore, Bitmap Tech’s BRC-420 “Blue Box” collection has emerged as a highly sought-after asset on Ordinals, distinguishing itself with its substantial value and promising growth prospects.
Investment Partners of Merlin Chain
Merlin Chain has recently disclosed a fresh funding round from 24 investors, featuring notable names such as OKX Ventures, ABCDE, Foresight Ventures, and Arkstream Capital. However, specific details regarding the total amount of funds secured remain undisclosed at this time.
