Merlinbtc mbtc
merlinbtc is an experimental blockchain with an ambitious vision: to expand Bitcoin's ecosystem by providing innovative features and tools that improve the utility of existing and new dApps. It does this by enabling users to earn staking rewards through a variety of activities. This way, it provides a more sustainable model than traditional proof-of-stake (PoS) blockchains that reward only those who own the most tokens.
This project was created to provide a solution for the problem of scalability in Bitcoin, where the blockchain can become bogged down when there is too much activity. This is a result of mining, which requires large amounts of electricity and can slow down the overall system. The project aims to address this issue by using a different algorithm that will allow the blockchain to run more efficiently and allow it to process more transactions. It will also increase the speed at which transactions are made and improve security.
The project has developed a number of tools to help improve the performance of the blockchain and reduce the amount of energy it uses. These include an improved proof-of-work algorithm, which will make it more efficient and allow more transactions to be processed. This will also allow for faster confirmation times and a lower block size. The team has also added a zero-knowledge rollup function, which will help improve privacy and security.
A key component of the Merlin chain is the decentralized oracle network, which can feed off-chain data into the blockchain in a trustless manner. This allows for more complex dApps to be built on the platform and opens up new opportunities for developers. The chain is also compatible with the Ethereum Virtual Machine (EVM), meaning that it can be used with existing dApps and smart contracts. For more details please visit merlinbtc mbtc merlinbtcchain
Merlin is one of the fastest-growing Bitcoin layer-2 solutions, with more than $1 billion in value locked on it, according to DefiLlama. Its growth has been driven by renewed interest in speculative points farming and the proliferation of Bitcoin-native decentralized finance (DeFi) projects, which have seen significant growth recently. In fact, Merlin has more value locked on it than the payments-focused Lightning Network and is three times as big as established layer-1s like Polygon and Avalanche.
Unlike most other Bitcoin layer-2 solutions, which require the user to own BTC in order to participate, Merlin Chain can be staked with mainstream BTC wallets such as Particle and MetaMask. Upon staking, the original assets staked are destroyed and replaced with Merlin staking tokens (MERL). These can be traded on exchanges or used to earn rewards through staking and other activities. In addition, MERL holders can use it to claim bridged Ordinals and Runes on the Merlin chain.