Merlin Chain PriceMERL

Who Are the Founders of Merlin Chain?

Merlin Chain has decentralized Oracle networks. These networks are completely fraud-proof.  The two main figures behind the astounding Merlin Chain are -

1. Jeff Yin is a seasoned entrepreneur with over a decade in the Web2 industry. He has secured funding from prominent investors like Sequoia Capital and IDG Capital. 
2. Bitmap Technology is a Bitcoin Layer 2 solution designed to enhance Bitcoin's native assets, protocols, and applications. It aims to improve Bitcoin's capabilities on Layer 1 through its Layer 2 infrastructure.

What Benefits Does the Technology Behind the Merlin Chain Provide?

There are several advantages that the technology behind the Merlin Chain provides its users. They are as follows: 

• Reliable and Safe Technology

Merlin Change wants to leverage advanced technologies to enhance Bitcoin’s scalability and efficiency. At its core, the Merlin chain employs a combination of ZK-Rollup networks. These networks are decentralized oracle networks. They also have data availability and on-chain BTC fraud-proof modules. This complex approach ensures robust security and performance. 

• Fast and Cheap

ZK-Rollup networks are very important to Merlin Chain, with the ZK-rollup combining several transactions into a single batch to be processed off-chain. In addition to being faster and cheaper, the method reduces the main load on the Bitcoin blockchain. 

• Complete Privacy

The use of zero knowledge ensures privacy, making it secure, and the transaction details remain private.

• Network Security Contribution of MERL Stakeholder

MERL is, of course, the name of the native token serving multiple purposes within the Merlin Chain system. Holders can stake their MERL to contribute to network security by either delegating their tokens to collators or running their collators. Such delegation helps to secure the network by ensuring that only trusted participants are involved in transaction validation. 

• Versatile Uses of MERL in the Merlin Ecosystem

MERL may also be used for transaction fees, native liquidity provision, or collateral within the Merlin environment.

What Are the Real-world Applications of the Merlin Chain?

1. One of the novel applications of the Merlin Chain is probably the ZK-Rollup network; it drastically enhances transaction throughput while lowering costs. 
2. Essentially, this highlights the number of transactions bundled and processed off-chain.
3. It integrates a segregated Oracle network that provides trustworthy data to smart contracts, which is crucial for applications that require real-world data, such as decentralized finance (DeFi) platforms. 
4. Compatibility with Ethereum Virtual Machine (EVM) and popular Bitcoin protocols sums up its versatility in the cryptocurrency ecosystem. MERL represents the native token of the Merlin Chain, which takes center stage in the ecosystem.

What Key Events Have There Been for Merlin Chain?

• Security Network Participation

Staking and unstaking systems were developed to let MERL holders take an active part in securing the network. 

• Stability in Staking Tokens

They add security and stability to the Merlin Chain by staking their tokens, thus earning rewards. This is necessary for the operation of a decentralized and secure network.

• Alliance With Celestia and Nubit

Merlin Chain has allied with Celestia and Nubit to become strategic partners that shall transform their data availability stack. The alliance is to reach an optimum data store as well as an optimum data retrieval capacity for efficient and scalable networks. The proposal of a Taproot-based aggregated zero-knowledge proof solution further strengthens the position of the Merlin Chain on privacy and security issues. This novel approach restores transaction confidentiality while safeguarding the integrity of the blockchain.

• Merlin Chain ZK-Rollup Network Launch

The launch of the Merlin Chain ZK-Rollup Network marks a striking evolution in scale and efficiency. ZK-Rollups allow the bundling of various transactions into one batch, thereby taking off some pressure from the general Bitcoin chain and increasing transaction throughput. This technology is extremely important for backing a growing user base and expanding the operational capacity of the network.

• Participation in TOKEN2049

By participating in TOKEN2049, Merlin Chain presented its technology to the public at a much wider level. This gathering is, in fact, among the biggest crypto gatherings, attended by major stakeholders, investors, and developers. At TOKEN2049, involvement raised awareness about the Merlin Chain and fostered partnerships.

Conclusion

Merlin Network has emerged as an innovative Bitcoin Layer 2 solution. It improves Bitcoin's native assets, protocols, and applications with better capabilities and provides a higher chance of scalability. It blends advanced modules like ZK-Rollup and Decentralized Oracle Networks. It offers effective transaction processing and secure data transmission and is compatible with EVM.