The Launch of Bitcoin L2 Solution: Merlin Chain
This week, the highly anticipated Bitcoin L2 solution, Merlin Chain, has gone live on its testnet. The mainnet launch is scheduled to take place within a month.
Bitcoin’s Network Congestion and Scaling Solutions
Bitcoin’s ecosystem has experienced increased network congestion and rising transaction costs, discouraging new users from getting involved. To address this issue, an EVM-compatible L2 network was deemed the most promising solution due to its simplicity of implementation. Merlin Chain is one such EVM-compatible L2 chain developed by Bitmap Tech. The team’s past successes have earned them high regard in the community.
The Success of BRC-420 and Bitmap.Game
BRC-420 is a protocol developed by Bitmap Tech that allows for the combination and recursion of various file formats as assets on Bitcoin. Assets like the Blue Box and Mineral have seen significant success on the OKX market. Similarly, Bitmap.Game, a fully decentralized metaverse project, has gained popularity with over 30,000 holders.
Unlocking Bitcoin’s Potential Through Innovation
Merlin Chain aims to unlock Bitcoin’s potential by innovating through its native assets, users, and protocols. This includes creating games based on Bitmap assets, empowering NFTs and FTs in DeFi protocols, and minting L1 assets on L2 more efficiently.
Leveraging ZK-Rollup for Efficient Scaling
To meet higher throughput requirements while ensuring safety, Merlin Chain has adopted ZK-Rollup technology. This technology compresses transaction proofs into a simple check-sum to improve efficiency and scalability. The decentralized Oracle network further enhances transparency and security.
Merlin Chain’s Bitcoin-Centric Approach
Merlin Chain stands out by being “Bitcoin Native” and focusing on the development of the Bitcoin ecosystem. It supports bitcoin-native wallets and plans to integrate major protocols on Bitcoin L1. The governance token, BRC-20, will be adopted to align with this approach.
Simplifying Bitcoin Adoption and Fueling Growth
Merlin Chain addresses the complexity of Bitcoin adoption by allowing users to interact with familiar wallets and assets on its platform. It also plans to integrate a multi-chain inscription DApp, reducing wait times for asset inscriptions.
Hot Take: Merlin Chain’s Promising Future for Bitcoin
With its launch on the testnet and mainnet approaching, Merlin Chain offers an innovative solution to Bitcoin’s network congestion and scaling challenges. By leveraging ZK-Rollup technology and adopting a Bitcoin-centric approach, Merlin Chain aims to unlock the full potential of Bitcoin through native assets, users, and protocols. The integration of familiar wallets and assets simplifies Bitcoin adoption for new users, fueling growth in the ecosystem. Stay tuned for the upcoming mainnet launch of Merlin Chain as it leads the way in shaping the future of Bitcoin.
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