Merlin Chain, a Bitcoin Layer2 solution, has recently launched on its testnet and plans to launch on its mainnet within a month. This solution aims to address the network congestion and high transaction fees on the Bitcoin network, as well as bring more innovation and adoption to the ecosystem.
Bitcoin’s recent surge in popularity has also brought about increased network congestion and rising transaction fees. This has discouraged new users from getting involved with Bitcoin. To combat this, Merlin Chain has developed an EVM-compatible L2 network, which allows for faster and cheaper transactions.
Merlin Chain is being developed by Bitmap Tech, a team known for their successful projects such as BRC-420 and Bitmap.game. Their BRC-420 protocol allows for the combination of any file format to create more complex inscriptions, and their Bitmap.game is a fully decentralized metaverse project. Both of these projects have seen great success and have a strong community following.
One of the key features of Merlin Chain is its native integration with Bitcoin. This means that users can seamlessly switch between L1 and L2 using their Bitcoin wallets. Merlin Chain also supports major protocols on Bitcoin L1, such as BRC-20, Bitmap, BRC-420, Atomicals, SRC20, and Pipe, making it easier for users to trade assets.
To ensure scalability and security, Merlin Chain has adopted ZK-Rollup technology, which compresses a large number of transaction proofs into a simple check-sum. This allows for faster and more efficient transactions on the network. The decentralized Oracle network on Merlin Chain also helps to prevent improper activities and ensures the transparency and security of the system.
In addition to solving scalability and adoption issues, Merlin Chain also aims to bridge the gap between new users and Bitcoin. By integrating with 40 Ethereum chains, users can interact with Merlin Chain using their familiar wallets and assets. This makes it easier for new users to experience Bitcoin in its native form.
Merlin Chain is set to launch its mainnet in the near future, and users can stay updated by following their Twitter account. As a subsidiary of Bitmap Tech, a team with a market cap of over $500 million, Merlin Chain is well-positioned to bring innovation and growth to the Bitcoin ecosystem.