Merlin Chain, a pioneering Bitcoin Layer 2 solution, is thrilled to
announce a successful new round of funding co-led by
the Spartan Group and Hailstone Labs with
significant contributions from Amber Group, Presto Labs,
and IOBC Ventures. This strategic partnership marks an
important milestone in Merlin Chain's journey, positioning it at
the forefront of the Bitcoin ecosystem's evolution.
Since its last funding round, Merlin Chain has successfully
launched its mainnet, which has rapidly gained traction within the
industry. The platform has already facilitated over 9 million
transactions and hosts more than 70 live projects with a Total
Value Locked (TVL) exceeding $4 billion.
The addition of esteemed backers like Spartan Group will empower
Merlin Chain to delve deeper into the institutional management
scene, leveraging the new BTC staking narrative. This innovative
approach offers an enhanced yield on Bitcoin, affirming its status
as a pivotal "storage of value."
"We are believers that the rapid development in the BTC
ecosystem, including efforts to introduce smart contract
capabilities to BTC, will unlock billions of value on-chain," said
Kelvin Koh, Co-Founder and Managing Partner of Spartan Group. Koh
expressed his support for Merlin Chain, noting, "We are proud to
back the Merlin team led by Jeff as they truly understand this
vision and the mindset of the BTC community - prioritizing fair
launches and distribution and grassroots-led growth of the entire
ecosystem!"
Strengthening Foundations with Global Backers and
Safeguards
Merlin Chain's founder Jeff, a seasoned entrepreneur in Web2,
has secured funding from top-tier institutions such as
Sequoia Capital, IDG Capital, BAI
Capital (Bertelsmann), 5Y Capital, and Vitalbridge
Capital. With over 20 investment institutions on board, led
by OKX Venture, ABCED, Forsight Ventures,
and ArkStream Capital, alongside major mining pools like
viaBTC, the platform is well-equipped for both security and
technological advancement. This support underlines the strength of
Chinese entrepreneurs and investors in the Bitcoin ecosystem.
With a TVL of $4 billion, security is Merlin Chain's paramount
concern. To this end, Merlin Chain has established the Merlin
Security Council, which includes well-known entities such
as Slowmist, BlockSec, Salus, Secure3, ScaleBit and Revoke.Cash.
With a focus on research, education and technological development,
the council is a pivotal element in its strategy to attract
white-hat hackers and innovative DApps, ensuring the ongoing safety
and growth of the Merlin ecosystem.
Revolutionizing Blockchain with Advanced Tech
Merlin Chain is setting new standards in the blockchain domain
with its innovative architecture that enhances security,
scalability, and transparency. At the core of Merlin’s system is a
multi-tiered structure supported by a decentralized oracle network.
This network is crucial for integrating external data with the
blockchain, ensuring that power is distributed fairly and risks are
managed effectively, thereby stabilizing the ecosystem.
Central to Merlin’s technological advancements are the
strategically placed sequence nodes within the oracle network.
These nodes are vital for maintaining the integrity of the
blockchain's ledger and facilitating the consensus process. They
play a key role in organizing and processing transactions
efficiently.
Merlin Chain utilizes zero-knowledge (ZK) proofs, a form of
cryptographic security that allows transaction verification without
revealing any underlying data. This method, combined with Bitcoin's
Taproot upgrade, significantly enhances privacy and efficiency.
Taproot simplifies complex transactions on the Bitcoin network by
merging multiple signatures into a single transaction, reducing the
data needed and ensuring transactions are more private.
Advancing Bitcoin's L2 Ecosystem Through Community
Merlin Chain's success is not just a product of strategic
marketing but is deeply rooted in its cutting-edge technology and
the robust support from its community. This support is evidenced by
its rapid growth and the trust placed in us by top-tier investors
and the wider community.
In an era where Bitcoin Layer 2 solutions are becoming
increasingly crucial, Merlin Chain stands out as a robust
competitor, even against established entities like ETH Layer 2
solutions. Merlin’s approach has been fundamentally
community-driven, focusing on assets that garner early recognition
and foster community cohesion. Noteworthy examples include its
BRC-420 assets like the Blue Box, which have significantly
contributed to its ecosystem's growth.
Merlin Chain is also actively expanding its DApp ecosystem by
partnering with established Ethereum Virtual Machine (EVM) teams in
key sectors such as gaming, DeFi, and social platforms. Their
collaborations with high-profile projects and platforms are setting
new standards for interoperability and innovation in the blockchain
space.
With its latest funding round, Merlin Chain is poised for
unprecedented growth. The protocol is committed to leading the
charge in the Bitcoin ecosystem, driving innovation and delivering
value to its users and stakeholders.
Merlin Chain invites the community and interested parties to
join in this exciting journey as it continues to develop and expand
its capabilities, paving the way for a more interconnected and
efficient blockchain ecosystem.
About Merlin Chain
Merlin Chain is a leading Bitcoin Layer 2 solution that
facilitates fast, scalable, and secure transactions within the
Bitcoin ecosystem. It is designed to enhance Bitcoin's usability
while maintaining the highest security standards. By leveraging
innovative technologies and strategic partnerships, Merlin Chain
aims to expand Bitcoin's utility and foster the development of a
comprehensive decentralized application ecosystem.
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Chain Wiki
Disclaimer: The information provided in this press release
is not a solicitation for investment, nor is it intended as
investment advice, financial advice, or trading advice. It is
strongly recommended you practice due diligence, including
consultation with a professional financial advisor, before
investing in or trading cryptocurrency and securities.
Joe Peng
contact at merlinchain.com