As one of the hottest Bitcoin native second-layer networks today, Merlin Chain has attracted an astonishing total locked value (TVL) of $3.5 billion in just 30 days after its launch, and has attracted the construction of more than 200 projects. However, this has brought with it severe challenges to the security of funds. How to ensure the security of these $3.5 billion funds has become the focus of all users' urgent attention.
Merlin Chain has taken a series of strict security measures to ensure the security of funds. First, in terms of architectural design, Merlin takes security into consideration and cooperates with multiple security teams such as SlowMist to build a secure and transparent system through layers of encryption such as decentralized Oracle, diversified asset support, proxy pledge, real-time monitoring and exit mechanisms.
Secondly, Merlin shares the security of the data storage layer (DA) with Celestia. Through the public data availability guarantee provided by Celestia, the transparency and credibility of the network are enhanced, and the verifiable release of block data is ensured.
In addition, Merlin adopts a solution based on Taproot's aggregated zero-knowledge proof and Rollup data written into the Bitcoin mainnet, so that all second-layer data is submitted to Bitcoin's first layer for security verification, inheriting the security of Bitcoin.
In addition, Merlin's asset management adopts Cobo's co-management mechanism and uses its MPC wallet solution to achieve institutional-level security, free from the impact of private key single point failure.
Finally, Merlin established the Merlin Security Committee, cooperated with a number of security companies to audit ecological projects, and supported users to monitor their ecological security through third-party independent platforms, such as mistTrack.
In general, fund security is crucial to the survival of public chains. Merlin Chain not only invests a lot of resources in security and continues to increase it, but also encourages individuals and teams to discover vulnerabilities and contribute to ecological security to ensure the long-term prosperity of the ecology.
