Singapore, April eleventh, 2024 — Merlin Chain, a trailblazer in Bitcoin-native layer 2 (L2) protocols, has rolled out a complete suite of safety measures alongside revolutionary chain structure. This initiative follows the platform’s exceptional achievement of securing a $3.5 billion Whole Worth Locked (TVL) simply 30 days after its mainnet launch, attracting a powerful cohort of over 200 initiatives to its quickly increasing ecosystem.
On the coronary heart of Merlin Chain’s ethos is a steadfast dedication to sturdy safety, a precept that has guided the platform since its inception. By forging alliances with premier safety specialists, Merlin Chain has meticulously crafted a safe haven for person belongings, successfully shielding them in opposition to a myriad of potential threats.
A New Period of Blockchain Know-how and Structure
Merlin Chain is redefining the blockchain panorama with its avant-garde structure, which includes a multi-tiered system that bolsters safety, scalability and transparency. The platform’s revolutionary construction is underscored by a decentralized oracle community —a system that gives a blockchain with exterior information. Merlin Chain’s mannequin not solely democratizes energy but additionally enhances asset diversification and danger mitigation, considerably solidifying the ecosystem’s robustness.
Central to Merlin Chain’s technological breakthroughs is the strategic deployment of sequence nodes inside its oracle community. Nodes are units on a blockchain that keep a replica of the community’s ledger and take part in consensus. Nodes play a pivotal position in orchestrating transaction assortment and batch processing. By way of the technology of compressed transaction information and zero-knowledge (ZK) proofs, Merlin Chain achieves a beforehand unattainable stage of transparency and safety by securely anchoring this data onto Bitcoin’s Taproot.
ZK proofs are cryptographic strategies that enable one celebration to show to a different {that a} assertion is true with out revealing any data past the validity of the assertion itself. Bitcoin’s Taproot, alternatively, is an improve that improves privateness and effectivity on the Bitcoin community by combining a number of signatures and complicated good contracts right into a single, making transactions extra personal and lighter by way of information.
Strategic Collaborations to Elevate the Community’s Trustworthiness
In its quest for uncompromised information integrity, Merlin Chain has entered right into a strategic collaboration with Celestia, using it as its Information Availability Layer. With the partnership, the platform ensures the verifiable publication of block information, dramatically elevating the community’s transparency and trustworthiness. Celestia’s dedication to public information availability serves as a cornerstone for sustaining information integrity and consistency throughout Merlin Chain, successfully forestalling information withholding assaults and facilitating seamless transactions for customers.
Merlin Chain’s adoption of a Taproot-based resolution for integrating combination ZK proofs with the Bitcoin mainnet marks a major milestone in securing L2 information. The platform’s ingenious method not solely capitalizes on Bitcoin’s stringent safety protocols but additionally enhances the scalability and operational effectivity of L2 processing, firmly rooting information immutability within the bedrock of Bitcoin’s safety paradigm.
The alliance with Cobo heralds a brand new frontier in asset safety inside the Merlin Chain ecosystem, bringing to the fore a sophisticated multi-party computation (MPC) pockets that eliminates the necessity for a single level of management. The pockets resolution leverages state-of-the-art know-how to realize an unprecedented stage of safety via cold-hot pockets isolation and safe asset custody, emblematic of Merlin Chain’s pursuit of institutional-level safety measures.
Furthermore, Merlin Chain’s institution of the Merlin Safety Council, in partnership with main safety corporations, represents a proactive method to ecosystem safety. The council boasts famend names like Slowmist, BlockSec, Salus, Secure3, ScaleBit and Revoke.Money, amongst others. The platform additionally goals to draw extra white-hat hackers and DApps to hitch its decentralized group.
Charting the Way forward for Blockchain with Group Engagement
By integrating third-party platforms for on-chain monitoring, Merlin Chain empowers its customers with real-time visibility into the ecosystem’s safety posture, fostering a tradition of transparency and belief. The forthcoming introduction of Council Grants and the Merlin Bug Bounty program is a testomony to Merlin Chain’s forward-thinking technique, inviting neighborhood engagement in fortifying the ecosystem’s safety infrastructure.
About Merlin Chain:
Merlin Chain is a pioneering BTC layer 2 resolution that leverages the power of the Bitcoin ecosystem to foster innovation, collaboration, and development. With a robust basis in community-driven belongings and a strategic method to ecosystem growth, Merlin Chain is dedicated to driving the way forward for Bitcoin-native innovation.
Contact:
Twitter: https://twitter.com/MerlinLayer2
Discord: https://discord.com/invite/JYqDYMu76e
