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April 20, 2024, 11:33:54 AM |
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I've been looking into this project called Merlin Chain. From what I gather, it's all about bringing more functionality to Bitcoin without sacrificing the core things that make it Bitcoin. More like adding some extensions to your browser, but for the whole Bitcoin network.
It's focused on what you call Layer 2 solutions – it's a way to make transactions faster and cheaper, while still keeping the security of Bitcoin itself. It uses ZK-Rollups, which sounds complicated, but basically it's a way to bundle transactions off-chain to reduce congestion.
What I find really interesting is the stuff they're enabling. They're making it possible to bring smart contracts to Bitcoin, which opens up a ton of possibilities. I believe it's a way to prove ownership of real-world assets.
They've also got a plans on making it easy for Ethereum developers to port projects to this Bitcoin layer, which could be huge for adoption. And get this – they've got backing from some serious VCs.
I'm still trying to get into the technical side, and it's early days for the project. But it seems like they're tackling some of the key challenges that have held Bitcoin back. Do you see this solving the major problem of Bitcoin looking at the 2024 halving we have for Bitcoin.
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