MERL
Merlin Chain
$0.01934
2.29%
Merlin Chain
MERL
$0.01934
2.29%
Merlin Chain Price Converter
Merlin Chain Information
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About Merlin Chain
Merlin Chain (MERL) is a Bitcoin Layer 2 solution that enhances scalability, functionality, and usability using technologies like ZK-Rollups, decentralized oracles, and data availability modules. It allows faster, low-cost transactions, EVM-compatible smart contracts, and seamless integration with Bitcoin wallets via BTC Connect. MERL, the native token, is used for governance, staking, transaction fees, and as liquidity within the ecosystem. The project aims to extend Bitcoin’s capabilities without replacing it, providing a secure, efficient, and developer-friendly environment while leveraging Bitcoin's Layer 1 security.
Merlin Chain is a Bitcoin Layer 2 scaling solution designed to enhance Bitcoin's native assets, protocols, and products using advanced technologies such as ZK-Rollups, decentralized oracles, Data Availability (DA), and on-chain Bitcoin fraud-proof modules. Launched in January 2024, Merlin Chain is built on the Polygon Chain Development Kit (CDK), enabling compatibility with Ethereum Virtual Machine (EVM) tools and standards while integrating Bitcoin's security and functionality. Its core mission is to improve Bitcoin's scalability, usability, and efficiency, embodying the slogan "Make Bitcoin Fun Again."
Merlin Chain is designed to address Bitcoin's scalability limitations and enable broader functionality through its Layer 2 network. The key use cases include:
- Transaction Processing: Enhancing transaction speed and reducing costs using ZK-Rollup technology, which compresses and batches transactions before anchoring them on Bitcoin’s Layer 1 via Taproot.
- Smart Contracts: Supporting EVM-compatible smart contract deployment, bridging Bitcoin’s ecosystem with decentralized applications (dApps).
- Data Availability: Ensuring verifiable data publication through collaborations with projects like Celestia, enhancing transparency and credibility.
- Fraud Proofs: Implementing a challenge-response mechanism to secure the integrity of data and protect against malicious activity.
- Decentralized Oracles: Integrating accurate, real-time data into Bitcoin’s Layer 2 environment while resisting centralization and single points of failure.
- BTC Wallet Support: Allowing users to interact with Merlin Chain using native Bitcoin wallets via BTC Connect, bridging Bitcoin accounts with EVM-compatible environments.
MERL, the native token of Merlin Chain, plays a central role in the ecosystem:
- Governance: MERL holders can vote on proposals to shape the development of the ecosystem.
- Staking: MERL can be staked to secure the network, align with its success, and earn rewards.
- Transaction Fees: MERL is used to pay transaction fees within the Merlin ecosystem.
- Native Liquidity and Collateral: MERL serves as collateral and liquidity for financial activities, supporting lending and other mechanisms in the ecosystem.
Merlin Chain was developed by Bitmap Technology, a company founded by Jeff Yin. Bitmap Technology aims to enhance the capabilities of Bitcoin while maintaining its foundational principles of decentralization and security. The team behind Merlin Chain integrates expertise in cryptography, blockchain architecture, and zero-knowledge proof technologies to deliver an efficient and user-friendly Bitcoin Layer 2 solution.
