Merlin Chain made a hot debut, attracting more than 3.5 billion US dollars in funds and pouring into more than 200 projects in just 30 days after the mainnet was launched. However, as the scale of funds grows, security issues become increasingly prominent. This article provides an in-depth explanation of the security mechanism of Merlin Chain to protect the US$3.5 billion in funds.
🔒 **Architecture Design**: Merlin Chain uses a multi-token pledge Oracle node system to ensure decentralized power and data transparency, and resist single points of failure and centralization risks. Diversified asset support and agency pledge options ensure user flexibility and liquidity, and real-time monitoring and exit mechanisms add to the security line of defense.
🛡 **Shared security with Celestia**: The data storage layer is provided by Celestia, ensuring the verifiable release of block data and enhancing network transparency and credibility. At the same time, the security of Bitcoin is inherited to a layer of verification to ensure the safe processing and verification of transactions.
💼 **Asset Management**: Cobo's MPC wallet solution manages assets and implements private key security sharding through advanced MPC technology to protect assets from security attacks and human errors.
🤝 **Security Team Cooperation**: Established the Merlin Security Committee to jointly audit ecological projects with a number of well-known security companies. At the same time, on-chain monitoring is carried out through third-party independent platforms such as mistTrack to ensure Merlin’s financial security and on-chain transparency.
💡 **Future Plans**: Merlin Chain plans to add Council Grants and Merlin Bug Bounty programs to encourage discovery of vulnerabilities and contributions to ecological security.
Fund security is directly related to the life and death of the public chain, and Merlin Chain is committed to providing users with a safe and reliable ecological environment to protect fund security and continue to prosper and develop. 🚀
