The Bitcoin ecosystem has seen significant growth, with various cryptographic assets emerging, including Ordinals inscription NFTs, BRC20, SRC20, and derivatives tied to Bitcoin hashpower, with a collective market valuation of around $900B. Despite this growth, the Bitcoin network still lacks native support for smart contracts, leading to scalability issues. However, developers have found workarounds, and new projects like Merlin Protocol have emerged. Merlin P. has successfully adapted and issued encrypted assets, including BTC, BRC20, and Bitcoin hashpower, into the EVM network ecosystem, with plans for compatibility with new types of encrypted assets and innovative Bitcoin L2 protocols.
So here's the question mates. As the Bitcoin ecosystem continues to evolve, will Merlin Protocol and other innovative solutions be enough to overcome the scalability challenges and propel Bitcoin to the forefront of the crypto market, or will Ethereum and other blockchain 2.0 platforms maintain their lead in the smart contract & DeFi space? Let's talk!.
https://coinmarketcap.com/currencies/merlin-chain/
