BTSE will list Merlin Chain ($MERL) on April 24 at 4 PM (UTC+8), making it available for spot trading.
Additionally, $MERL will be listed on BTSE’s wider ecosystem of 20+ white label crypto exchanges, enabling better liquidity and pricing. Users can trade $MERL via the MERL/USD, MERL/USDT, and MERL/USDC trading pairs.
Key Dates:
- Deposits enabled: 4:00PM (UTC+8) on April 24, 2025
- Trading enabled: 4:00PM (UTC+8) on April 25, 2025
- Withdrawals enabled: 4:00PM (UTC+8) on April 25, 2025
BTSE is excited to announce the listing of Merlin Chain ($MERL)!
Launched in January 2024, Merlin Chain is a Layer 2 network built atop Bitcoin, developed by Bitmap Technology, the company founded by Jeff Yin. The project’s goal is to expand Bitcoin’s capabilities by introducing advanced features like ZK-Rollups, decentralized oracles, data availability solutions, and fraud-proof mechanisms—making Bitcoin faster, more scalable, and developer-friendly.
Unlike many other blockchain projects, Merlin does not seek to replace Bitcoin but aims to enhance its functionality, allowing for the development of new applications, games, and tools on top of Bitcoin’s solid foundation. By providing these improvements, Merlin Chain empowers Bitcoin’s ecosystem to better meet the demands of the future.
ZK-Rollup Network: Merlin Chain uses a system that batches many transactions together and submits them to Bitcoin using zero-knowledge proofs — a special form of cryptography that proves the transactions are valid without revealing all the details. This data is submitted to Bitcoin through Taproot, which helps ensure security and finality. The system is made up of three main parts: nodes, a zkProver, and a database. Nodes handle transaction processing and communication. The zkProver uses advanced math (SNARKs) to generate cryptographic proofs showing everything is valid. The database stores important information like Merkle Tree data and transaction history. Together, this setup allows Merlin to scale while keeping costs low, maintaining strong security, and supporting compatibility with Ethereum-style smart contracts.
Decentralized Oracle Network: Merlin uses a decentralized network of nodes to gather, batch, and verify transaction data. These nodes, also called sequencers, collect user transactions and produce compressed data along with zero-knowledge proofs, which are then posted to Bitcoin. Instead of storing all the raw data on Bitcoin (which would be expensive), only summaries — called state roots — are posted. This way, users can still verify that everything is correct using ZK proofs, without revealing sensitive data. The system is designed to be secure, using multi-signature wallets and cold storage to protect assets. Users can stake tokens like BTC, MERL, and BRC-20 assets to help run the network and earn rewards. All staking, payouts, and monitoring are handled by smart contracts, giving users real-time visibility and flexible control over their funds.
Data Availability: To ensure that all data in the network is easy to access and verify, Merlin partners with data availability projects like Celestia and Nubit. These platforms make sure that transaction data is published publicly and can be verified by anyone, improving transparency and network trust. Once this data is confirmed as available, the responsibility of storing older data falls to the apps and rollups built on Merlin. Every time new data is added, network nodes check to make sure it’s complete and available, which helps keep the system consistent and reliable.
Two-Step ZKP Submission Mechanism: Merlin uses a two-step process for submitting zero-knowledge proofs to make the proof system more efficient and secure. In the first step, a prover sends a small hash of their proof along with their address. This shows they’re ready to submit the full proof later, and it prevents spamming. After a short waiting period, they can then submit the full proof. Once verified, they receive rewards based on how much they’ve staked. This process keeps the network stable by spreading out computation, preventing attacks, and encouraging consistent participation from provers.
Fraud Proofs Based on Bitcoin: Merlin includes a fraud-proof system that lets anyone challenge potentially incorrect or dishonest data. It uses Bitcoin’s tools to make sure the process is secure. Here, the Prover turns their program into a series of logic gates (basic computing steps), which are organized into a Merkle Tree and submitted to Bitcoin using Taproot. If a Verifier thinks something is wrong, they can challenge the Prover and request specific pieces of data. The Prover must then show evidence that their data is correct. This back-and-forth process ensures that all submitted data is accurate and honest, strengthening trust in the system.
Deposit/trade $MERL tokens on the BTSE website or mobile app (iOS/Android) here.
For more information, visit Merlin Chain’s official website and whitepaper.
You can also stay up to date with Merlin Chain on X (formerly Twitter) and Discord.
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