News Report Technology
May 16, 2024

Merlin Chain Integrates Nubit DA, Enables User Access To Data Through Its Alpha Devnet

In Brief

Merlin Chain launches on the development test network Alpha Devnet with Nubit data availability underneath.

Merlin Chain Integrates Nubit DA, Enables User Access To Data Through Its Alpha Devnet

Bitcoin Layer 2 solution Merlin Chain announced its launch on the development test network Alpha Devnet with Nubit data availability (DA) underneath. This integration allows users to access relevant data through the development network. 

Nubit is a Bitcoin-native DA layer secured by Bitcoin that maintains trust minimization principles. It allows for the scaling of Bitcoin’s data capacities, enabling various applications such as Ordinals, Layer 2 solutions, and price oracles. This broadens the scope and efficiency of the Bitcoin ecosystem, supporting its growth and development.

DA refers to the capacity to access all transaction data for verification within a decentralized network. It ensures that every transaction contained within a block is accessible to every participant in the network. 

Nubit and Merlin Chain entered into a partnership aimed at combining Merlin Chain with Nubit’s Bitcoin-native data availability (DA) solution in March. This collaboration seeks to unlock the potential of Bitcoin by synergizing Merlin Chain with Nubit’s Bitcoin native DA solution to unlock the potential of Bitcoin with the native Layer 1 assets, users, and protocols. 

Keep track of cryptocurrency distributions in our Airdrops Calendar.

What Is Merlin Chain?  

Merlin Chain is developing its native Bitcoin Layer 2 platform, which enables secure, scalable, and efficient transactions on the Bitcoin network, serving as a robust infrastructure for projects centered around Bitcoin. As per data from DeFiLlama, the platform’s total value locked (TVL) currently stands at $1.2 billion. 

In April, the project successfully concluded a new round of financing, securing funding from Spartan Group, Hailstone Labs, Amber Group, Presto Labs, IOBC Ventures, and other contributors. Additionally, Merlin Chain conducted an airdrop of its token MERL and initiated its listing on major cryptocurrency exchanges, expanding its reach and accessibility within the cryptocurrency market.

Recently, Merlin Chain has enabled the deployment of the Bitcoin-native stablecoin project bitSmiley on its mainnet. This deployment coincided with the introduction of the Liquidity Grant program, designed to incentivize Merlin Chain community members by distributing 3,150,000 BIT tokens to enhance liquidity.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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