Fund security is directly related to the life and death of the public chain
Detailed explanation of Merlin’s security, how to protect 3.5 billion funds#Merlin#Understand#merlin#btc#BTCL2#Ordinals. 💪Key Theory of Fund Security: The Ultimate Guardian of the Survival of Public Chains
🛡 Merlin Chain: The safe guardian of $3.5 billion in funds
Merlin Chain, the new Bitcoin native second-layer network, has become a hot topic in the crypto world since its launch with its astonishing TVL of 3.5 billion US dollars and the participation of more than 200 projects. With the influx of a large amount of liquidity, how Merlin Chain can ensure the security of this huge amount of funds has become the focus of the community.
🔒 Multi-layer security architecture to build a solid defense line
Merlin Chain takes security as a core consideration from the beginning of its design. Through a decentralized Oracle node system, diversified asset support, real-time monitoring, and a flexible exit mechanism, Merlin Chain effectively resists single point failures and centralization risks. In addition, the cooperation with Celestia ensures the openness and transparency of data and on-chain storage, thereby enhancing the transparency and credibility of the network.
🌐 Inherits Bitcoin's security and provides Layer2 scalability
Merlin Chain uses Taproot-based aggregated zero-knowledge proof to submit the second-layer data to Bitcoin's first layer for security verification, ensuring the safety and reliability of transactions. At the same time, through Cobo's MPC wallet solution, institutional-level asset management security is achieved, ensuring the non-custodial and security of funds.
🔍Join the security team to jointly maintain ecological security
Merlin Chain not only puts a lot of effort into its own security, but also cooperates with many well-known security teams including Slowmist to establish the Merlin Security Committee to jointly provide security for ecological projects. In addition, through third-party platforms such as mistTrack, users can monitor on-chain data in real time, further improving the transparency of fund security.
💡 Future Outlook: Continue to increase investment to ensure ecological prosperity
Merlin Chain plans to continue to increase its investment in the security field in the future, including increasing CouncilGrants and MerlinBugBounty programs, encouraging community members to actively participate in ecological security construction and jointly maintain the security and stability of this prosperous ecology.
We believe that Merlin Chain has ensured the safety of $3.5 billion in funds in its ecosystem through a series of innovative security measures and collaborations, while laying a solid foundation for the continued development of the Bitcoin Layer2 network and user trust.