Merlin Chain Secures Major Funding, Revolutionizing Bitcoin Blockchain

Merlin Chain, a pioneering Bitcoin Layer 2 solution, has secured a successful funding round co-led by Spartan Group and Hailstone Labs, with significant contributions from Amber Group and others. This strategic partnership positions Merlin Chain as a leader in the Bitcoin ecosystem's evolution, providing enhanced yield on Bitcoin through BTC staking and unlocking billions of value on-chain.

Merlin Chain Secures Substantial Funding to Revolutionize the Bitcoin Ecosystem

Spartan Group and Hailstone Labs Co-Lead Strategic Investment

April 17th, 2024 - Merlin Chain, the trailblazing Bitcoin Layer 2 solution, has triumphantly announced a resounding success in its latest funding round, co-led by the esteemed Spartan Group and Hailstone Labs. This strategic partnership marks a monumental milestone in Merlin Chain's trajectory, propelling it to the forefront of the rapidly evolving Bitcoin ecosystem.

Since the conclusion of its previous funding endeavor, Merlin Chain has commendably launched its mainnet, swiftly gaining substantial traction within the industry. The platform has already facilitated an impressive tally of over 9 million transactions and triumphantly hosts more than 70 vibrant projects, boasting a Total Value Locked (TVL) that surpasses an extraordinary $4 billion.

The significant addition of esteemed backers such as Spartan Group empowers Merlin Chain to delve further into the burgeoning institutional management landscape, capitalizing on the novel BTC staking narrative. This groundbreaking approach extends an enhanced yield on Bitcoin, reinforcing its pivotal status as a pivotal "store of value."

"We firmly believe that the rapid evolution within the BTC ecosystem, including the concerted efforts to introduce smart contract capabilities to BTC, will unlock billions in value on-chain," remarked Kelvin Koh, Co-Founder and Managing Partner of Spartan Group. Koh enthusiastically expressed his unwavering support for Merlin Chain, noting, "We are filled with pride to align ourselves with the Merlin team, masterfully led by Jeff. They profoundly understand this vision and the very mindset of the BTC community, giving utmost priority to fair launches, equitable distribution, and the grassroots-led growth of the entire ecosystem!"

Bolstering Foundations with Global Backers and Multi-faceted Safeguards

Merlin Chain, guided by its seasoned founder Jeff, a prominent entrepreneur in Web2, has secured funding from a prestigious roster of top-tier institutions, including Sequoia Capital, IDG Capital, BAI Capital (Bertelsmann), 5Y Capital, and Vitalbridge Capital. With over 20 renowned investment institutions onboard, spearheaded by OKX Venture, ABCED, Forsight Ventures, and ArkStream Capital, alongside esteemed mining pools such as viaBTC, the platform is exceptionally well-equipped for unparalleled security and technological advancements. This unwavering support underscores the formidable strength of Chinese entrepreneurs and investors within the Bitcoin ecosystem.

Recognizing the critical importance of security, given its impressive $4 billion TVL, Merlin Chain has meticulously established the Merlin Security Council, comprising well-known entities such as Slowmist, BlockSec, Salus, Secure3, ScaleBit, and Revoke.Cash. With an unwavering focus on research, education, and technological innovation, the council assumes a pivotal role in Merlin Chain's strategy to attract white-hat hackers and cutting-edge DApps, ensuring the enduring safety and relentless growth of the Merlin ecosystem.

Redefining Blockchain with Cutting-Edge Advancements

Merlin Chain is setting new benchmarks in the blockchain domain with its groundbreaking architecture, ingeniously engineered to enhance security, scalability, and transparency. At the core of Merlin's system lies a multi-tiered structure, seamlessly supported by a decentralized oracle network. This network serves as the cornerstone for integrating external data with the blockchain, ensuring fair distribution of power and effective risk management, thereby promoting the stability of the ecosystem.

Central to Merlin's technological advancements are the strategically placed sequence nodes within the oracle network. These nodes play a vital role in maintaining the integrity of the blockchain's ledger and facilitating the consensus process. They orchestrate and process transactions with remarkable efficiency.

Merlin Chain harnesses the power of zero-knowledge (ZK) proofs, a sophisticated form of cryptographic security that allows for transaction verification without divulging any underlying data. This method, synergistically combined with Bitcoin's Taproot upgrade, significantly bolsters privacy and efficiency. Taproot ingeniously simplifies intricate transactions on the Bitcoin network by merging multiple signatures into a single transaction, minimizing data requirements and enhancing transaction privacy.

Propelling Bitcoin's L2 Ecosystem Through Community Engagement

Merlin Chain's remarkable success is not merely a byproduct of strategic marketing but is deeply rooted in its cutting-edge technology and the unwavering support of its vibrant community. This support is eloquently evidenced by its rapid growth and the implicit trust bestowed upon it by top-tier investors and the broader community.

In an era where Bitcoin Layer 2 solutions are becoming increasingly indispensable, Merlin Chain distinguishes itself as a formidable competitor, holding its own against established entities such as ETH Layer 2 solutions. Merlin's approach has been fundamentally community-driven, meticulously focusing on assets that garner early recognition and foster community cohesion. Noteworthy examples include its BRC-420 assets such as the Blue Box, which have made substantial contributions to its ecosystem's growth.

Merlin Chain is actively expanding its DApp ecosystem by collaborating with established Ethereum Virtual Machine (EVM) teams in key sectors such as gaming, DeFi, and social platforms. Their strategic partnerships with high-profile projects and platforms are setting new standards for interoperability and innovation in the blockchain space.

With this latest funding round, Merlin Chain is poised for unprecedented growth. The protocol is steadfastly committed to leading the charge in the Bitcoin ecosystem, driving innovation, and delivering unparalleled value to its users and stakeholders.

Merlin Chain cordially invites the community and all interested parties to join this captivating journey as it continues to meticulously develop and expand its capabilities, paving the way for a more interconnected and efficient blockchain ecosystem.