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Merlin Chain (MERL): Unlocking Bitcoin's Potential With ZKP Layer-2

Merlin Chain (MERL): Unlocking Bitcoin's Potential With ZKP Layer-2

Beginner
2024-04-17 | 5m

What is Merlin Chain (MERL)?

Merlin Chain (MERL) is a Layer-2 for Bitcoin that offers a suite of features aimed at improving scalability, interoperability, and efficiency. Merlin Chain leverages zero-knowledge proofs (ZKPs) to enable faster and more cost-effective transactions while maintaining the security, integrity, and decentralization of the Bitcoin network.

How Merlin Chain (MERL) Works

Merlin Chain’s Architecture

At the heart of Merlin Chain's architecture is its integration of various components, including ZK-Rollup, decentralized oracles, data availability, and on-chain fraud proof modules. Let's break down how these components work together to power Merlin Chain:

ZK-Rollup for Scalability: ZK-Rollup is a technology that allows multiple transactions to be batched together and processed off-chain, significantly reducing congestion on the Bitcoin blockchain. By leveraging ZK-Rollup, Merlin Chain can achieve higher throughput and lower transaction fees compared to traditional on-chain transactions.

Decentralized Oracles for Data Availability: In Merlin Chain's Layer 2 architecture, decentralized oracle nodes play a crucial role in compiling transaction data and uploading it to the Bitcoin mainnet. This ensures that transaction data is publicly accessible and verifiable by anyone on the network, enhancing transparency and trust.

On-Chain Fraud Proof Modules for Security: To prevent fraudulent activities on the network, Merlin Chain incorporates on-chain fraud proof modules that allow users to challenge and verify transactions using Bitcoin's robust consensus mechanism. This ensures that only valid transactions are processed, maintaining the integrity of the network.

EVM Compatibility for Interoperability: Merlin Chain is compatible with the EVM, allowing developers to deploy smart contracts and build dApps with ease. This interoperability enables seamless integration with existing Ethereum-based projects and tools, further expanding Merlin Chain's ecosystem.

Advantages of Merlin Chain

Merlin Chain offers several key advantages over traditional Layer-1 solutions:

Security: By leveraging Bitcoin's robust security features, Merlin Chain ensures a high level of security for transactions and data.

Scalability: Through ZK-Rollup technology, Merlin Chain can process a large number of transactions off-chain, improving scalability and reducing congestion on the Bitcoin blockchain.

Interoperability: With EVM compatibility, Merlin Chain can seamlessly interact with existing Ethereum-based projects, fostering greater collaboration and innovation within the crypto community.

Cost-Efficiency: By optimizing transaction costs through ZKPs and zkSNARKs, Merlin Chain offers users a cost-effective solution for conducting transactions on the Bitcoin network.

MERL Goes Live on Bitget

As Merlin Chain continues to evolve and grow, it holds the potential to unlock new possibilities for Bitcoin and the wider crypto ecosystem. With its focus on scalability, security, and interoperability, Merlin Chain is poised to play a significant role in shaping the future of DeFi, NFTs, and other emerging use cases in the crypto space.

Take the opportunity to trade Merlin on Bitget and become the pioneer of a new Bitcoin-powered future.

How to Trade MERL on Bitget

Listing time: April 19, 2024

Step 1: Go to MERLUSDT spot trading page

Step 2: Enter the amount and the type of order, then click Buy/Sell

For detailed instructions on how to spot trade in Bitget, please read The Uncensored Guide To Bitget Spot Trading.

Trade MERL on Bitget now!

MERL on Bitget Pre-Market

MERL is a part of Bitget Pre-Market, a platform where users can trade tokens over-the-counter before the token is listed for spot trading. Join now to get the best out of it!

To use Bitget Pre-Market, follow these simple steps:

Step 1: Go to the Bitget Pre-Market page.

Step 2:

○ For Makers:

■ Choose the desired token and click on ‘Post Order’.

■ Specify Buy or Sell, enter price and quantity, review details, then confirm.

○ For Takers:

■ Choose the desired token, pick ‘Sell’ or ‘Buy’, select the pending order, enter quantity, and confirm.

■ Note: Partial completion is not allowed.

For more specific information on how to get MERL tokens on Bitget Pre-Market, check out the announcement here.

Get MERL on Bitget Pre-Market now!

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.