Merlin Chain’s Founder: Bitcoin Needs Interlayer Networks More Than Ethereum

Bitcoin’s Pivotal Need for Layer-2 Networks: The Merlin Chain Revolution

Merlin Chain, a rapidly emerging Bitcoin layer-2 solution, has captured the attention of the cryptocurrency community amidst debate on the urgent need for layer-2 networks in the Bitcoin ecosystem. Seen as essential for Bitcoin’s continued growth and innovation, Merlin Chain’s founding team, notably led by Jeff from Bitmap Tech, argues that layer-2 networks play a more crucial role for Bitcoin than for Ethereum (Cointelegraph, 2024).

Merlin Chain, established through a strategic partnership between Cobo and Bitmap Tech, is designed to address Bitcoin’s scalability and transaction fee issues via the integration of ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud proof modules (Cobo, 2024). The Merlin Chain team has successfully raised funds from a group of 24 investors — including notable backers such as OKX Ventures, Foresight Ventures, and Arkstream Capital (ZyCrypto, 2024).

Merlin Chain’s primary advantage over other layer-2 networks is its commitment to Bitcoin-native innovation, with plans to offer support for all major protocols found in Bitcoin Layer 1, such as BRC-20, BRC-420, Bitmap, Atomicals, and Pipe (ZyCrypto, 2024). The team’s dedication to decentralization is evident, with the majority of governance tokens circulated to the cryptocurrency community (Crypto News, 2024).

The rapid growth of the Bitcoin Ordinals and BRC-20 tokens, together with the adventurous flourishing of Bitcoin DeFi (BTCFi) (Cointelegraph, 2024), has helped reinforce the importance of improved layer-2 solutions for Bitcoin. Merlin Chain’s testnet and upcoming mainnet release reflect the high anticipation generated by the team and the broader crypto community (Crypto News, 2024).

Yet, observing the fiery debates that often surround the topic of layer-2 networks and Bitcoin’s direction, it is crucial for readers to look beyond headlines and delve into the technicalities behind such innovations (Crypto News, 2024). Readers who wish to explore Merlin Chain and related layer-2 solutions further are encouraged to consult reliable sources found in the articles mentioned and to verify the information through official government publications or expert opinions of trustworthy blockchain analysts.

Given the potential impact of layer-2 solutions on the future of Bitcoin and other blockchain technology, it is critical for cryptocurrency enthusiasts to stay informed about the latest innovations and engage in critical thinking and research. Verifying the facts provided in this article through reputable sources, such as official websites, news articles, and expert opinion, helps ensure the accuracy of insights and prioritizes trust.

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