Fund security is directly related to the survival of public chains, especially popular Bitcoin native Layer2 networks like Merlin Chain 🧙♂. This article will delve into the security of Merlin Chain and reveal how it ensures the safety of $3.5 billion in funds.
As one of the most watched Bitcoin native Layer2 networks, Merlin Chain attracted more than 200 projects to participate in the construction in just 30 days after its mainnet was launched, with a TVL of 3.5 billion US dollars. However, such a huge ecosystem brings not only prosperity, but also potential risks. 📈💰
Merlin Chain adopts a multi-level security architecture to ensure the safety of funds:
1. Decentralized Oracle: The Oracle node system adopts multi-token staking to resist single point failure by decentralizing power and data transparency. Users can conduct real-time monitoring and flexible exit to ensure the safety of funds. 🔒
2. Shared DA layer security with Celestia: Celestia, as a data availability layer, provides public data availability guarantees, enhancing the transparency and credibility of the network. 🌐
3. Verify to the first layer and inherit the security of Bitcoin: Merlin Chain proposed a solution based on Taproot, submitting the data of the second layer to the first layer of Bitcoin for security verification, ensuring the secure processing of transactions and the tamper-proof storage of data. 🛡
4. Asset Management: All funds locked in Merlin Chain are managed by Cobo’s MPC wallet solution, which uses cold and hot wallet isolation and other measures to ensure asset security. 💼
5. Cooperate with well-known security teams and third-party platforms: Merlin Chain has established a security committee, cooperated with multiple security companies to audit ecological projects, and supported third-party independent platforms to conduct on-chain monitoring to ensure ecological security. 🤝
Fund security is the cornerstone of Merlin Chain's development. To this end, they not only strengthen technical protection, but also provide a rich reward program to encourage the discovery of loopholes. The security of Merlin Chain is the guarantee of its continued prosperity, and it also provides users with a safe participation experience. 🚀$BTC #Merlin生态 #meilinchain
