Merlin Chain (MERL) is a Layer 2 solution for the Bitcoin network, developed by Bitmap Technology and launched in January 2024. The project's goal is to enhance scalability, reduce transaction costs, and expand the functionality of the Bitcoin network while maintaining its security and decentralization.
Technologies and architecture
Merlin Chain utilizes the following key technologies:
ZK-Rollup: combines multiple transactions into a single batch using zero-knowledge proofs (ZKP), reducing the load on the main network and increasing throughput.
Decentralized oracles: provide access to external data for smart contracts and applications, enhancing the reliability and security of operations.
Data availability mechanisms: ensure that all network participants have access to the necessary information for transaction verification.
This architecture allows Merlin Chain to support various assets and protocols, including BRC-20, Ordinals NFT, and others, expanding the capabilities of the Bitcoin ecosystem.
MERL token
MERL is the native token of the Merlin Chain ecosystem, performing the following functions:
Payment of fees: used to pay transaction fees within the network.
Participation in governance: token holders can participate in votes on network development and management issues.
Staking and delegation: users can stake MERL to ensure network security and earn rewards.
Participation in DeFi activities: the token is used in various decentralized financial applications, including farming and lending.
Market indicators
As of May 20, 2025:
Price: around $0.1026.
Market capitalization: approximately $53.8 million.
24-hour trading volume: around $17.8 million.
Maximum price for the entire period: $1.22 (reached on April 20, 2024).
Merlin Chain represents a promising solution for enhancing the Bitcoin network's capabilities, offering improved scalability and functionality through innovative Layer 2 technologies.
