Comment
Author: Admin | 2025-04-28
Key InsightsMerlin Chain has emerged as a leading EVM-compatible sidechain with Bitcoin-native assets. Merlin Chain achieved a TVL of over $3.5 billion at its peak in March 2024.Merlin Chain is committed to transitioning to a Bitcoin Layer-2 (L2). Merlin Chain is a Bitcoin sidechain built using the Polygon CDK, designed to transition into a Bitcoin zero-knowledge (ZK) Layer-2 solution.Merlin Chain’s ecosystem revolves around Bitcoin-native assets. Ordinals, BRC-20s, BRC-420s, and Runes can be bridged to Merlin Chain for use throughout Merlin Chain’s applications.Merlin Chain has completed two funding rounds. The rounds took place in February and April 2024, and the investors included OKX Ventures, Foresight Ventures, KuCoin Ventures, Spartan Group, Amber Group, Waterdrip Capital, Presto Labs, IOBC Capital, Hailstone, and others.IntroductionWith the rise of Bitcoin-native assets like Ordinals, BRC-20s, and Runes, Bitcoin scaling solutions have been developed to improve the user experience, reduce fees, and bring smart contract functionality to Bitcoin. Scaling solutions such as Merlin Chain are scaling via Layer-2s (L2s), a similar method of scaling as Ethereum. As of Oct. 7, 2024, Merlin Chain operates a Bitcoin sidechain but plans to transition to a Bitcoin L2 once the appropriate technology has been developed to support this transition. Merlin Chain’s commitment to making Bitcoin-native assets productive assets through the current sidechain implementation and their commitment to developing the technical infrastructure to enable the transition of Merlin Chain from a sidechain to a Bitcoin L2 have helped establish Merlin Chain as the leading Bitcoin scaling solution by TVL.BackgroundMerlin Chain was founded
Add Comment