New York, USA, January 31, 2024, Chainwire

This week, the long-awaited Bitcoin L2 answer Merlin Chain went reside on testnet, with mainnet anticipated to launch inside a month.

Bitcoin community congestion dilemma and scaling options

The evolution of Ordinals over the previous 12 months has introduced renewed consideration to the Bitcoin ecosystem after a protracted time period. Whereas rising the joy within the Bitcoin ecosystem, it’s also rising the depletion of community sources. More and more excessive transaction prices, mixed with the rising worth of Bitcoin itself, are additional congesting the community and discouraging new customers from getting keen on Bitcoin.

(Bitcoin every day common transaction payment $: YCharts)

The concept of ​​growing an EVM-compatible L2 community has been acknowledged as the primary to yield outcomes as a result of the implementation path is straightforward.

Merlin Chain can also be one of many EVM-compatible L2 chains and is developed by Bitmap Tech (previously Recursiverse), the group that constructed the BRC-420 protocol and Bitmap.recreation, and is extremely wanted by the neighborhood because of the group's previous success. It’s extremely rated.

BRC-420

The BRC-420 protocol helps arbitrary file format mixtures/recursion to kind extra complicated inscriptions. Character photographs, recreation scripts, digital machines, AI fashions, and extra can all turn out to be Bitcoin belongings.

Its core asset, Blue Field, has risen from a registration price of $0.15 to an ATH ground worth of $26,000, whereas different belongings reminiscent of Minerals and Dis Music About NFT are essentially the most actively traded on the OKX market. It's one in every of our belongings. At present, we’ve got over 1000 builders and 600+ collections, and our costs are solely going up, not down, and we've been performing nice even in bear markets.

bitmap video games

Bitmap.Sport is a totally on-chain, absolutely decentralized, and fair-launched Metaverse venture. It’s primarily based on the digital matter principle underlying Bitcoin and is open sourced to be run or verified by any consumer, reflecting the idea of “consumer agnosticism” in a totally on-chain recreation.

Throughout this time, Bitmap's market cap rose from $3 million to an ATH of $290 million. With over 30,000 homeowners, Bitmap has surpassed Sandbox because the metaverse asset with essentially the most homeowners throughout all blockchains.

Unleash Bitcoin's potential with modern magic

Merlin Chain believes that L2 for Bitcoin means extra than simply low-cost transfers or the provision of DApps, it additionally means additional innovation that unlocks Bitcoin's potential via native belongings, customers, and protocols. I feel it needs to be one thing.

For instance, how one can create video games primarily based on bitmaps in order that bitmap customers can take part in several metauniverses at low price, since bitmaps are absolutely decentralized belongings. Or for DeFi protocols primarily based on BRC-420, how one can authorize NFTs and FTs in each instructions. For Inscription Minting, we’ll focus on how one can mint his L1 belongings on L2 in a less expensive and versatile method. Somewhat than replicating how Ethereum works, solely these “Bitcoin-native” improvements can proceed to energy the ecosystem.

To this point, Merlin Chain has constructed a robust DApp ecosystem, successfully addressed liquidity issues, and plans additional growth.

Environment friendly and safe scaling with ZK-Rollup

Various ecosystems and belongings additionally imply larger throughput necessities and a few security dangers. To unravel this downside, Merlin Chain adopted ZK-Rollup. This lets you compress giant numbers of transaction proofs into easy checksums, enhancing transaction effectivity and scalability.

Merlin Chain's sequencer nodes are accountable for amassing and batching transactions, producing compressed transaction knowledge, ZK state roots, and proofs through zkEVM. Compressed transaction knowledge and ZK proofs are uploaded to Bitcoin L1’s Taproot through the decentralized Oracle community and made accessible throughout the community, making certain transparency and safety.

Decentralized Oracle community nodes are required to stake $BTC to stop inappropriate exercise. Customers can begin difficult her ZK rollup primarily based on compressed knowledge, ZK state roots, and ZK proofs. If the problem is profitable, it is going to be rolled again to the final verified state and the Oracle node will lose its locked $BTC, making certain the safety and reliability of the system.

By means of the mixing of those applied sciences, Marlin Chain has demonstrated superior technical capabilities and is on monitor to construct an environment friendly and safe native Bitcoin L2 answer.

Native integration – Merlin Chain’s Bitcoin-centric method

In comparison with different Bitcoin L2 makes an attempt at the moment being tried, one of many key options of Merlin Chain is that it’s “Bitcoin native.”

Merlin Chain, which has been a robust believer in Bitcoin for a few years, could be very passionate concerning the improvement of the Bitcoin ecosystem, and reasonably than offering providers to different ecosystems within the title of Bitcoin, By means of my work, I purpose to convey extra customers and belongings to Bitcoin. Subsequently, Merlin Chain appreciates the native nature of Bitcoin in its ecosystem of initiatives and customers.

Merlin Chain helps Bitcoin native wallets. Particle Community's account abstraction permits customers to seamlessly swap between their L1 and L2 utilizing their Bitcoin pockets. Customers can expertise swapping $BTC with different tokens reminiscent of stablecoins at any time with out switching to the EVM pockets.

Moreover, Merlin Chain helps a lot of the main Bitcoin L1 protocols, together with BRC-20, Bitmap, BRC-420, Atomicals, SRC20, and Pipe. All inscriptions on L1 shall be routinely whitelisted by Merlin Chain, permitting customers to commerce safely and affordably.

In step with its pursuit of “Bitcoin Native”, Merlin Chain plans to undertake BRC-20 as its governance token. This makes far more sense than the opposite Bitcoin L2, which at the moment makes use of the Ethereum commonplace token as its governance token. Tokens shall be launched via a good launch, with a 48-month launch interval that doesn’t begin inside two years, excluding a portion that shall be distributed to VCs and groups, to show the pursuits of groups and traders. Belief in Marlin Chain.

Bridging the Hole – Simplifying Bitcoin Adoption and Accelerating Progress

One other tough challenge for Bitcoin ecosystem builders is the dearth of recent customers and new capital. Ordinals continues to do effectively, however the variety of lively addresses has not elevated considerably. It's the identical group of individuals concerned in several initiatives. The basic motive for that is Bitcoin's complexity. Not solely does it require downloading a Bitcoin pockets, writing can also be not very straightforward, the person has to spend a minimum of 2 blocks of time writing, whereas for affirmation he has to spend 3 blocks of time , which is complicated and complicated. it takes time.

(Day by day lively Bitcoin handle: Glassnode)

Marlin Chain solves this downside. At present, Marlin Chain is linked to 40 Ethereum chains, so even customers who aren’t accustomed to Bitcoin can use acquainted wallets reminiscent of Metamask and acquainted belongings reminiscent of stablecoins, $ETH, and $BNB. Masu. . Work together with Marlin Chain. A person doesn't have to know the rules behind Bitcoin, and even what BRC-20 or Atomic is, earlier than he can expertise Bitcoin the way in which it was meant to be in a well-known means.

To this finish, Merlin Chain plans to combine the primary multi-chain writing DApp. It will permit customers to write down belongings to different layers, together with Bitcoin L1 on Merlin Chain. Just one block of time is required to attend. On the similar time, the Launchpad can also be accessible on the Marlin chain, with a mechanism that each inscription fired on it’s rated at 100,000 FDV, and extra customers will have the ability to use the BRC-20/ BRC-420 It is possible for you to to simply buy belongings reminiscent of /. Atomic/Runes at a really low worth. Moreover, as a part of its decentralization efforts, Merlin Chain plans to launch most of its governance tokens to the neighborhood.

Customers ought to keep tuned for the upcoming mainnet launch. The way forward for Bitcoin is about to unfold with Merlin Chain on the helm.

About Marlin Chain

Merlin Chain is a Bitcoin Layer2 that integrates the ZK-Rollup community, a decentralized oracle community, and an on-chain BTC anti-fraud module. Merlin Chain is dedicated to powering Bitcoin's native belongings, protocols, and merchandise on Layer 1 via the Layer 2 community to make Bitcoin enjoyable once more. Merlin Chain is a subsidiary product line of Bitmap Tech, his OG group of top-notch gamers with a mixed market capitalization of over $500 million. The BRC-420 “Blue Field” assortment underneath Bitmap Tech has turn out to be one in every of Ordinals’ hottest belongings.

Customers can begin following Merlin Chain twitter For additional updates.

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