Let's talk about the security of #Merlinchain today
Merlin Chain is undoubtedly the hottest native second-layer network of Bitcoin at the moment. The mainnet reached an astonishing TVL of 3.5 billion US dollars in 30 days after it was launched, attracting more than 200 projects to enter the construction. After Merlin launched the second-layer mapping assets, multiple ecological projects successively released major updates, and hundreds of millions of US dollars of liquidity poured in. The unprecedented popularity once caused congestion in the Bitcoin network. But if an ecosystem undertakes billions of funds, in addition to bringing prosperity to the ecology and liquidity, it also means being exposed to the dangerous dark forest of blockchain.
As an emerging #BTCL2 , Merlin has taken security into consideration in every aspect of its own architecture design, and has joined forces with multiple security teams such as SlowMist, plus layers of plug-ins, to jointly build a strong defense line for fund security.
Merlin Chain adopts a multi-token pledge Oracle node system. The sequence node is responsible for collecting and batch processing transactions, generating compressed transaction data, ZK state roots and proofs. This data is compiled by the Oracle network execution circuit and uploaded to the Taproot of the Bitcoin mainnet, making it publicly accessible to the entire network.
Diversified assets: Supports staking of $BTC , $MERL, and other mainstream brc20 assets, improving flexibility and risk resistance
Proxy staking: Not only allows users to directly stake assets to become Oracle nodes, but also provides more flexible proxy staking options, allowing users to entrust assets to existing, reputable Oracle nodes for management
Real-time monitoring: Users can view their proxy staking status and income in real time, as well as the performance records of proxy nodes
Exit mechanism: Provides a flexible exit mechanism, users can withdraw their assets at any time to ensure the liquidity of funds
By decentralizing power and data, Merlin Chain is able to resist the risks brought by single point failures and centralization.
Shared DA layer security with Celestia
The data storage layer (DA) is similar to a database, where all original transactions of the execution layer are stored for subsequent verification and confirmation. For Layer2, the openness, transparency and on-chain storage of DA are extremely important. If the latest transaction data is not uploaded to a trusted platform, the data withholding attack will cause the network to be scrapped and may prevent users from withdrawing funds smoothly.
