Recently, the high-profile Bitcoin L2 solution Merlin Chain (Merlin Chain) in its test online, and its main network is also planned to launch within a month。

Bitcoin's Network Congestion Dilemma and Scaling Solution

In the past year, the development of Ordinals has led people to refocus on the Bitcoin ecosystem after a long period of time.。While boosting the heat of the Bitcoin ecosystem, it also exacerbates the depletion of network resources。Increasing transaction costs, coupled with the rise in the price of Bitcoin itself, have further exacerbated the network's congestion, causing new users to lose interest in Bitcoin.。

The idea of developing an EVM-compatible L2 network is considered the first to bear fruit due to its simple implementation path。

Merlin Chain is also one of the EVM-compatible L2 chains, developed by Bitmap Tech (formerly Recursiverse), which builds the BRC-420 protocol and Bitmap.game's team, which is highly valued by the community due to the team's past successes。

The BRC-420 protocol supports the combination / recursion of any file format to form more complex inscriptions。Whether it's a character image, a game script, a virtual machine, or an artificial intelligence model, it can become an asset on Bitcoin。

Its core asset "Blue Box" has been changed from 0.The $15 engraved cost rose to the $26,000 ATH floor price, and other assets such as "Minerals" and "This Song About NFT" were also among the most actively traded assets on the OKX market.。It now has more than 1,000 developers and more than 600 collections, and has performed well even in bear markets, with prices only going up and not down.。

Bitmap game

Bitmap.Game is a fully on-chain, fully decentralized, fair-start meta-universe project.。It is based on the "Digital Matter Theory" that supports Bitcoin, which can be run or verified by any client after open source, reflecting the concept of "client agnosticism" (client agnosticism) of a fully on-chain game.。

During that time, Bitmap's market cap rose from $3 million to $2 million..900 million dollars。Currently, Bitmap has more than 30,000 holders, surpassing the sandbox to become the largest number of meta-cosmic asset holders in all blockchains.。

Unleashing Bitcoin's Potential Through Innovation Magic

Merlin Chain believes that Bitcoin's L2 should not be just for cheap transfers or just to be able to own DApps, but should further innovate through its native assets, users and protocols to unlock Bitcoin's potential.。

For example, bitmaps are completely decentralized assets, how to play games based on bitmaps, allowing bitmap users to enter a variety of meta-universes at low cost, for example, the DeFi protocol based on BRC-420, how to empower NFT and FT in both directions, and how to cast L1 assets on L2 in a lower-cost, more flexible way.。Only these "Bitcoin-native" innovations can continue to empower the ecosystem, not copy the way Ethereum works。

So far, Merlin Chain has built a strong DApp ecosystem, liquidity issues have been effectively addressed, and further expansion is planned.。

Efficient and secure extension with ZK-Rollup

Diversified ecosystems and assets also mean higher throughput requirements and certain security risks。To solve this problem, Merlin Chain adopted ZK-Rollup, which can compress a large number of transaction proofs into a simple checksum, thereby improving transaction efficiency and scalability。

The sequencer node on Merlin Chain is responsible for collecting and batching transactions, generating compressed transaction data, ZK state roots and proofs through zkEVM。The compressed transaction data and ZK proof will then be uploaded to the split root on Bitcoin L1 via the decentralized Oracle network, which can be accessed by the entire network to ensure transparency and security.。

Decentralized Oracle network nodes will be required to bet on USD Bitcoin to prevent inappropriate activity。Users can challenge ZK-Rollup based on compressed data, ZK state root, and ZK proof。After the challenge is successful, the system will roll back to the last verified state and confiscate the US dollar BTC locked by the Oracle node, thereby ensuring the security and credibility of the system。

Through the integration of these technologies, Merlin Chain has demonstrated its outstanding technical capabilities and is expected to build an efficient, secure and native Bitcoin L2 solution.。

Native Integration - Merlin Chain's Bitcoin-centric approach

One of the main features of Merlin Chain compared to other Bitcoin L2 that are currently being tried is "native Bitcoin"。

As a strong believer in Bitcoin for many years, Merlin Chain is extremely committed to the development of the Bitcoin ecosystem and strives to bring more users and assets to Bitcoin through its work, rather than serving other ecosystems in the name of Bitcoin.。Merlin Chain therefore attaches great importance to the native Bitcoin nature of its ecosystem's projects and users.。

Merlin Chain Supports Bitcoin Native Wallet。Through the account abstraction of the particle network, users can seamlessly switch between L1 and L2 using their Bitcoin wallet。Users can also experience the exchange of BTC with other tokens such as stablecoins at any time without having to switch to an EVM wallet。

Additionally, Merlin Chain will support most of the major protocols on Bitcoin L1, including but not limited to BRC-20, Bitmap, BRC-420, Atomicals, SRC20, and Pipe.。All inscriptions on L1 will be automatically whitelisted by Merlin Chain, allowing users to trade on L1 safely and affordably。

In order to achieve the goal of "native Bitcoin," Merlin Chain plans to adopt BRC-20 as its governance token。This is much more reasonable than other Bitcoin L2 that currently use Ethereum Standard tokens as governance tokens。The token will be released through a fair offering, with the exception of a small portion that will be allocated to venture capital firms and teams, and the rest will get a 48-month launch period that won't launch for two years, demonstrating the confidence of teams and investors in Merlin Chain.。

Simplify Bitcoin Applications to Boost Growth

Another thorny issue for the builders of the Bitcoin ecosystem is the lack of entry of new users and new funds。While Bitcoin transactions continue to boom, the number of active addresses has not grown significantly。It's just that the same people are involved in different projects.。

One of the root causes of this is the complexity of Bitcoin。In addition to the need to download the Bitcoin wallet, engraving is not easy to understand, users need to spend at least two blocks of time engraving, but also need to spend three blocks of time to confirm, both complex and time-consuming。

Merlin Chain will solve this problem。At present, Merlin Chain has access to 40 Ethereum chains. For those users who are not familiar with Bitcoin, they can use their familiar wallets, such as MetaMask, and their familiar assets, such as stablecoins, $ETH, $BNB, etc., to interact on Merlin Chain.。Users don't need to understand the principles behind Bitcoin, or even what BRC-20 and atoms are, to experience the original Bitcoin in a way they are familiar with.。

To this end, Merlin Chain will integrate the first multi-chain engraved DApp, allowing users to engrave other layer assets including Bitcoin L1 on Merlin Chain.。Just wait for a block。At the same time, a launch pad will be launched on Merlin Chain, with a mechanism that allows every inscription initiated on the launch pad to be valued at 100,000 FDV, allowing more users to easily purchase assets such as BRC-20 / BRC-420 / Atomicals / Runes at a very low price。In addition, as part of its commitment to decentralization, Merlin Chain will release most of its governance tokens to the community.。

Users can continue to follow the upcoming mainnet - the future of Bitcoin is about to unfold at the helm of Merlin Chain。

About Merlin Chain

Merlin Chain is the second tier of Bitcoin, integrating the ZK-Rollup network, the decentralized Oracle network, and the on-chain BTC fraud proof module.。Merlin Chain is committed to making Bitcoin fun again by empowering the first tier of native assets, protocols and products through its Layer 2 network。

Merlin Chain is an affiliate product line of Bitmap Tech, a first-class OG team with a total market cap of more than $500 million.。Bitmap Tech's BRC-420 "Blue Box" series has become one of the hottest assets on Ordinals。