Project overview

Merlin Chain is a Layer 2 solution designed to enhance the capabilities of the Bitcoin blockchain. The project launched in January 2024 with the aim of improving the functionality of Bitcoin while maintaining its security and decentralized nature. Unlike other Layer 2 solutions that attempt to replace the Bitcoin base layer, Merlin Chain chooses to integrate with Bitcoin, leveraging its security and addressing issues such as scalability and transaction costs.

Target

Merlin Chain's main goal is to expand the application scenarios of Bitcoin by supporting the development of decentralized applications (dApps) and protocols, which are difficult to implement on the Bitcoin base layer. By using technologies such as zero-knowledge rollups (ZK-Rollups) and decentralized oracles, Merlin Chain provides a scalable platform for native Bitcoin assets and applications.
The project's slogan, "Make Bitcoin Fun Again," reflects its goal to reinvigorate the Bitcoin ecosystem by enhancing its versatility and user-friendliness.

Technical Basics

The architecture of Merlin Chain is based on the following technologies:

1. ZK-Rollup Network: This technology aggregates multiple transactions for off-chain processing and compresses them into a single proof submitted to the Bitcoin blockchain. This reduces the amount of data that needs to be processed on-chain, increasing transaction speed and reducing costs.
2. Decentralized Oracle NetworkOracle provides external data for smart contracts on the blockchain. Merlin's decentralized oracle network ensures the accuracy and tamper resistance of this data, which is crucial for the execution of smart contracts and other blockchain-based applications.
3. Data availability: Merlin Chain prioritizes data availability, ensuring that all participants in the network have access to the information needed to validate transactions. This is important to maintain the integrity of the network and prevent congestion.
4. On-chain BTC fraud proof moduleThese modules allow network participants to question the validity of transactions, increasing the security of the network. If a fraudulent transaction is detected, the module can refuse the transaction, protecting the integrity of the entire system.

Development team

Merlin Chain was developed by Bitmap Technology, founded by Jeff Yin. Bitmap Tech is well respected in the blockchain field, with a market value of over 500 million USD. The development team is highly regarded for their previous work, including the BRC-420 'Blue Box' series, which is one of the popular Ordinals assets on the Bitcoin network.

Key team members include:

• Jeff Yin (Founder and CEO)Jeff Yin is a serial entrepreneur and one of the youngest winners of the Forbes 30 Under 30. Before founding Merlin Chain, he established and successfully expanded multiple businesses, including Oasis, the world's largest virtual world social network. Yin's leadership is crucial to the strategic direction of Merlin Chain.
• Cobo Partnerships: Merlin Chain has partnered with Cobo, a leader in digital asset custody solutions. Cobo provides institutional-grade security for Merlin Chain through its MPC co-managed custody solution, ensuring that assets are protected through advanced cryptography.
  The team at Bitmap Technology has extensive experience in blockchain innovation, focusing on the potential of Bitcoin rather than turning to other ecosystems. The team is committed to enhancing the capabilities of Bitcoin through the development of Merlin Chain, aligning with their long-term vision for the Bitcoin network.

Positioning and Mission

Merlin Chain is designed to complement Bitcoin, not replace it. By providing a more efficient trading and application environment, Merlin Chain aims to unlock new possibilities for the Bitcoin ecosystem. The integration of EVM compatibility makes it easy for developers to port Ethereum-based dApps to the Merlin platform, further enhancing its appeal.

Community and Development

The project attaches great importance to community-driven development. Through initiatives like the Merlin Adventure ecosystem funding program, the platform encourages developers to build on Merlin and provides incentives and support for innovative projects. This approach ensures the continuous growth and development of the Merlin ecosystem through contributions from users and developers.

Future Outlook

As the ecosystem develops, Merlin Chain plans to consolidate its position as a leading Layer 2 solution for Bitcoin in the next Bitcoin halving. The project's focus on scalability, security, and innovation makes it a powerful platform for developers and users to explore new use cases in Bitcoin.

bright spot

• Merlin Chain is a Layer 2 solution for Bitcoin, launched in January 2024.
• The platform improves the scalability of Bitcoin, reduces transaction costs, and speeds up transaction speed through ZK-Rollups and decentralized oracle technology.
• Merlin Chain focuses on native Bitcoin assets, aiming to expand its use cases without replacing the underlying layer of Bitcoin.
• The project emphasizes security and adopts on-chain anti-fraud proof module and data availability mechanism.
• Community-driven innovation initiatives and EVM compatibility support the growing dApp ecosystem on Merlin.