The security of funds is the determining factor for the success of a public chain. Merlin Chain provides solid protection for huge funds with its innovative security mechanism. The following are its main measures:
1. Decentralized Oracle: Adopting a multi-token staking Oracle node system, it effectively defends against single point failures and centralized risks by decentralizing power and making data transparent.
2. Diversified asset support: Supports staking of mainstream BRC20 assets such as $BTC and $MERL, increasing the flexibility and risk resistance of the system.
3. Proxy staking and real-time monitoring: Providing proxy staking options and real-time monitoring functions, allowing users to flexibly manage assets while understanding the staking status.
4. Sharing DA layer security with Celestia: Celestia ensures data availability and enhances the transparency and credibility of the network.
5. Verification to Bitcoin layer: Using Taproot technology, all data is submitted to the Bitcoin network for security verification, inheriting Bitcoin's high security standards.
6. Asset management: Cooperating with Cobo, adopting MPC wallet solutions for asset management, providing institutional-level security.
7. Joint security team: Cooperate with multiple security companies to establish the Merlin Security Committee to jointly maintain the security of ecological projects.
8. On-chain monitoring: Support third-party independent platforms such as mistTrack to monitor on-chain data and increase transparency.
Through these comprehensive measures, Merlin Chain has not only established a solid security foundation for itself, but also provided a line of defense for the entire ecosystem, ensuring the safety of $3.5 billion in funds. In the future, Merlin Chain plans to further strengthen security measures, and through the establishment of funds and bounty programs, encourage community members to participate in security maintenance and ensure the long-term prosperity of the public chain ecosystem.
