Monday, June 17, 2024
HomeFunding Singapore-Based Merlin Chain Secures Undisclosed Funding

[Funding Alert] Singapore-Based Merlin Chain Secures Undisclosed Funding

Merlin Chain,a Bitcoin Layer 2 solution provider based in Singapore, has raised an undisclosed sum of money. With investment from Amber Group, Presto Labs, IOBC Ventures, and Spartan Group, Hailstone Labs led the round.

Merlin Chain,a Bitcoin Layer 2 solution provider based in Singapore, has raised an undisclosed sum of money. With investment from Amber Group, Presto Labs, IOBC Ventures, and Spartan Group, Hailstone Labs led the round.

The money will be used by the business to keep growing its development activities.

A Bitcoin Layer 2 solution called Merlin Chain makes safe transactions within the Bitcoin ecosystem possible. It is intended to improve Bitcoin’s usability while upholding the strictest security guidelines.

Read also – Israel-Based Miggo Security Secured $7.5 Million in Seed Funding

It makes use of cryptographic security known as zero-knowledge proofs, which enable transaction verification without disclosing any underlying data. When used in conjunction with Bitcoin’s Taproot update, this technique improves efficiency and privacy.

Read also – UAE-Based Fortis Secured $20 Million Series A Funding

By combining several signatures into a single transaction, requiring less data, and guaranteeing increased privacy for transactions, Taproot streamlines complicated transactions on the Bitcoin network.

About Merlin Chain

Merlin Chain is a Bitcoin Layer 2 that is driven by Bitmap and builds upon the native assets, protocols, and products on Bitcoin Layer 1.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular