Merlin Chain Secures New Investments Co-led by Spartan Group and Hailstone Labs to Empower Bitcoin Apps

Merlin
Chain,
a
pioneering
Bitcoin
Layer
2
solution,
is
thrilled
to
announce
a
successful
new
round
of
funding
co-led
by
the Spartan
Group and Hailstone
Labs with
significant
contributions
from Amber
Group, Presto
Labs,
and IOBC
Ventures.
This
strategic
partnership
marks
an
important
milestone
in
Merlin
Chain’s
journey,
positioning
it
at
the
forefront
of
the
Bitcoin
ecosystem’s
evolution.

Since
its
last
funding
round,
Merlin
Chain
has
successfully
launched
its
mainnet,
which
has
rapidly
gained
traction
within
the
industry.
The
platform
has
already
facilitated
over
9
million
transactions
and
hosts
more
than
70
live
projects
with
a
Total
Value
Locked
(TVL)
exceeding
$4
billion.

The
addition
of
esteemed
backers
like
Spartan
Group
will
empower
Merlin
Chain
to
delve
deeper
into
the
institutional
management
scene,
leveraging
the
new
BTC
staking
narrative.
This
innovative
approach
offers
an
enhanced
yield
on
Bitcoin,
affirming
its
status
as
a
pivotal “storage
of
value.”

“We
are
believers
that
the
rapid
development
in
the
BTC
ecosystem,
including
efforts
to
introduce
smart
contract
capabilities
to
BTC,
will
unlock
billions
of
value
on-chain,”
said
Kelvin
Koh,
Co-Founder
and
Managing
Partner
of
Spartan
Group.
Koh
expressed
his
support
for
Merlin
Chain,
noting, “We
are
proud
to
back
the
Merlin
team
led
by
Jeff
as
they
truly
understand
this
vision
and
the
mindset
of
the
BTC
community
–
prioritizing
fair
launches
and
distribution
and
grassroots-led
growth
of
the
entire
ecosystem!” 

Strengthening
Foundations
with
Global
Backers
and
Safeguards

Merlin
Chain’s
founder
Jeff,
a
seasoned
entrepreneur
in
Web2,
has
secured
funding
from
top-tier
institutions
such
as
 Sequoia
Capital, IDG
Capital, BAI
Capital (Bertelsmann), 5Y
Capital,
and Vitalbridge
Capital.
With
over
20
investment
institutions
on
board,
led
by OKX
Venture, ABCED, Forsight
Ventures,
and ArkStream
Capital,
alongside
major
mining
pools
like
viaBTC,
the
platform
is
well-equipped
for
both
security
and
technological
advancement.
This
support
underlines
the
strength
of
Chinese
entrepreneurs
and
investors
in
the
Bitcoin
ecosystem.

With
a
TVL
of
$4
billion,
security
is
Merlin
Chain’s
paramount
concern.
To
this
end,
Merlin
Chain
has
established
the
Merlin
Security
Council,
which
includes
well-known
entities
such
as Slowmist, BlockSec, Salus, Secure3, ScaleBit and Revoke.Cash.
With
a
focus
on
research,
education
and
technological
development,
the
council
is
a
pivotal
element
in
its
strategy
to
attract
white-hat
hackers
and
innovative
DApps,
ensuring
the
ongoing
safety
and
growth
of
the
Merlin
ecosystem.

Revolutionizing
Blockchain
with
Advanced
Tech

Merlin
Chain
is
setting
new
standards
in
the
blockchain
domain
with
its
innovative
architecture
that
enhances
security,
scalability,
and
transparency.
At
the
core
of
Merlin’s
system
is
a
multi-tiered
structure
supported
by
a
decentralized
oracle
network.
This
network
is
crucial
for
integrating
external
data
with
the
blockchain,
ensuring
that
power
is
distributed
fairly
and
risks
are
managed
effectively,
thereby
stabilizing
the
ecosystem.

Central
to
Merlin’s
technological
advancements
are
the
strategically
placed
sequence
nodes
within
the
oracle
network.
These
nodes
are
vital
for
maintaining
the
integrity
of
the
blockchain’s
ledger
and
facilitating
the
consensus
process.
They
play
a
key
role
in
organizing
and
processing
transactions
efficiently.

Merlin
Chain
utilizes
zero-knowledge
(ZK)
proofs,
a
form
of
cryptographic
security
that
allows
transaction
verification
without
revealing
any
underlying
data.
This
method,
combined
with
Bitcoin’s
Taproot
upgrade,
significantly
enhances
privacy
and
efficiency.
Taproot
simplifies
complex
transactions
on
the
Bitcoin
network
by
merging
multiple
signatures
into
a
single
transaction,
reducing
the
data
needed
and
ensuring
transactions
are
more
private.

Advancing
Bitcoin’s
L2
Ecosystem
Through
Community

Merlin
Chain’s
success
is
not
just
a
product
of
strategic
marketing
but
is
deeply
rooted
in
its
cutting-edge
technology
and
the
robust
support
from
its
community.
This
support
is
evidenced
by
its
rapid
growth
and
the
trust
placed
in
us
by
top-tier
investors
and
the
wider
community.

In
an
era
where
Bitcoin
Layer
2
solutions
are
becoming
increasingly
crucial,
Merlin
Chain
stands
out
as
a
robust
competitor,
even
against
established
entities
like
ETH
Layer
2
solutions.
Merlin’s
approach
has
been
fundamentally
community-driven,
focusing
on
assets
that
garner
early
recognition
and
foster
community
cohesion.
Noteworthy
examples
include
its
BRC-420
assets
like
the
Blue
Box,
which
have
significantly
contributed
to
its
ecosystem’s
growth.

Merlin
Chain
is
also
actively
expanding
its
DApp
ecosystem
by
partnering
with
established
Ethereum
Virtual
Machine
(EVM)
teams
in
key
sectors
such
as
gaming,
DeFi,
and
social
platforms.
Their
collaborations
with
high-profile
projects
and
platforms
are
setting
new
standards
for
interoperability
and
innovation
in
the
blockchain
space.

With
its
latest
funding
round,
Merlin
Chain
is
poised
for
unprecedented
growth.
The
protocol
is
committed
to
leading
the
charge
in
the
Bitcoin
ecosystem,
driving
innovation
and
delivering
value
to
its
users
and
stakeholders.

Merlin
Chain
invites
the
community
and
interested
parties
to
join
in
this
exciting
journey
as
it
continues
to
develop
and
expand
its
capabilities,
paving
the
way
for
a
more
interconnected
and
efficient
blockchain
ecosystem.

About
Merlin
Chain

Merlin
Chain is
a
leading
Bitcoin
Layer
2
solution
that
facilitates
fast,
scalable,
and
secure
transactions
within
the
Bitcoin
ecosystem.
It
is
designed
to
enhance
Bitcoin’s
usability
while
maintaining
the
highest
security
standards.
By
leveraging
innovative
technologies
and
strategic
partnerships,
Merlin
Chain
aims
to
expand
Bitcoin’s
utility
and
foster
the
development
of
a
comprehensive
decentralized
application
ecosystem.

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Chain
Wiki

Disclaimer: The
information
provided
in
this
press
release
is
not
a
solicitation
for
investment,
nor
is
it
intended
as
investment
advice,
financial
advice,
or
trading
advice.
It
is
strongly
recommended
you
practice
due
diligence,
including
consultation
with
a
professional
financial
advisor,
before
investing
in
or
trading
cryptocurrency
and
securities.