Let's talk about $merl
(Binance just added it to alpha)
Merlin Chain, a native Layer 2 solution of Bitcoin, revolutionizes the Bitcoin network by integrating advanced technologies to enhance scalability, reduce transaction costs, and improve liquidity. Launched in January 2024 by Bitmap Technology, Merlin Chain operates as a ZK-Rollup network, incorporating decentralized oracle networks and data availability modules to strengthen the Bitcoin ecosystem.
The ZK-Rollup network is fundamental to the architecture of Merlin Chain, enabling high transaction throughput and low fees. This technology batches multiple transactions into a single batch, which is then processed off-chain, significantly reducing the burden on the main Bitcoin network. The decentralized oracle network ensures reliable and tamper-proof data sources, essential for smart contracts and decentralized applications (dApps) that operate within the ecosystem.
MERL, the native token of Merlin Chain, plays a crucial role in the functionality of the network. It is used for staking, where holders can contribute to the security of the network, and for delegating validators, allowing users to delegate their tokens to validators or run their own to secure the network. Additionally, MERL is used to pay transaction fees and serves as native liquidity and collateral within the Merlin ecosystem.
Bitmap Technology, the driving force behind Merlin Chain, has a rich history in the Bitcoin ecosystem, with previous projects such as Bitmap Explorer and BRC-420. Founded by Jeff, an entrepreneur with extensive experience in the Web2 industry and backing from prominent investors, Bitmap Technology has been instrumental in advancing Bitcoin's capabilities. Jeff's transition to the Web3 space was inspired by the potential he saw in Ordinals and the broader BTC ecosystem in 2023.
The total supply of Merlin Chain at genesis is set at 2,100,000,000 MERL, distributed among the public, Merlin Eco, early supporters, and key initial contributors. This strategic distribution aims to foster a robust and engaged community, driving further innovation and adoption of the network.
$BTC $ZK #BinanceAlphaAlert #MerlinTradingCompetition $ETH #solana #sui #zk
