Merlin Chain-the next potential huge traffic for the crypto
When you are anxious about Solana ecosystem projects, especially the memecoins which are pumping up to 100,000% within 24 hours, some smarters are reseaching the next potential huge valuable project, one of which is related to Bitcoin ecosystem project, and it's also a Bitcoin-L2 item with more than 2B dollars TVL. Its name is Merlin Chain. Given that the highest TVL on Bitcoin, Merlin Chain attracts all the industrial's attention. In this article, let me show you everything about Merlin Chain.
The necessity of its existence
With the approaching of Bitcoin halving event, more and more researchers are discussing relavent topic such as 'what's the direction of Bitcoin after Bitcoin halving event?', 'Will the transaction fee cover the mining rewards?', 'What if the rewards can't cover the mining cost?', etc. Similar issues are discussed more intense, the more necessarily Merlin Chain exist. A huge potential L2 will be an access for massive potential traffic. Supposed it has a promissing development, It will be the drive of on-chain transaction fee. Therefore, it can be said that Merlin Chain has seized a very good time. Just before the Bitcoin halving, the huge TVL on the chain caught the attention of people who are looking for the development direction of Bitcoin.
The problems it solves
So far I haven't read the whole version White Paper of Merlin Chain, I just noticed the creator of Merlin Chain who named Jeff announced Merlin Meme Metaverse White Paper on Feb 19, 2024. Although being a portial of Merlin Chain White Paper, its starter of introduction 'Gateway to the Meterverse' shows Merlin's ambitions, which is to establish a gateway to the Mertaverse. If you understand Bitcoin’s extremely poor scalability and on-chain performance, you will exclaim: How dare you? It is definitely the voice from all the researchers and investors. I haven’t studied the technology of Merlin Chain in depth yet, but when I see that all gas fees on the Merlin chain are paid in Bitcoin, and there are so many people participating, I already feel a next Bitcoin era is brewing. What it wants to solve happens to be the flaws that have existed in Bitcoin since its birth—insufficient scalability and too slow response speed. We can assume that if this problem is solved, there will be no need for Ethereum to exist in theory. Because the birth of Ethereum was also due to the extremely poor scalability of Bitcoin, but after nearly 10 years of development, Ethereum now also has many problems, then developers turns their attention towards L2 of Ethereum, like Polygon, Arbitrum, Optimism and Starknet.
Conclusion
Although all the crypto capitals have shown passion for it, and many memecoins projects have also shown a hot market trend, which likes Huhucat, we still have to keep our eyes open. There are some scams that are occuring, and we have to treat them rationally, especially in a early stage of the bull run. We know Everyone wants to make profits, but protecting your cost is more important.
Disclaimer: As a final reminder, this is not financial advice and it’s just for educational purposes only. Please do your own research and find out what investments are best for you. Cheers everyone! In the promising crypto world.
