Polyhedra Network announces that it plans to merge with Merlin Chain through its unique zkBridge technology. This development is a game-changer for the cryptocurrency ecosystem as stated in the third Network Expansion Proposal (NEP-3), it aims to make Bitcoin more useful in decentralised applications.
Merlin Chain is a Bitcoin Layer 2 solution, while Polyhedra Network is known for Web3 privacy, scalability, and interoperability – this partnership holds great promise for expanding Bitcoin’s capabilities in blockchain. The goal of this strategic move is to extend Bitcoin’s capabilities beyond its traditional bounds. It would be more secure, scalable, and efficient using ZK-Rollup technology and decentralised oracles.
Polyhedra Network Announces the zkBridge NEP-3 Integration Proposal with Merlin Chain
Polyhedra Network is a popular Web3 platform for privacy, scalability, and interoperability. Their connection with Merlin Chain through zkBridge is the focus of Polyhedra’s new proposal. The platform announced the project on its official X account. The third zkBridge Network Expansion Proposal marks a major expansion of Polyhedra’s capabilities. The Merlin Chain functions as a Bitcoin L2 solution. It incorporates a decentralised network of oracles, on-chain scam-proof Bitcoin modules, and a ZK-Rollup network. Each integration aims at bolstering Bitcoin’s native assets, products, and protocols on L1.
It plans to accomplish this through Merlin Chain’s L2 network. Thus, Merlin Chain is making an effort to improve Bitcoin‘s functionality anew. The goal is to make Bitcoin more useful in decentralised applications and to release its exclusive potentials. Additional assistance for the Merlin chain is provided by the zkLightClient. It combines with LayerZero Decentralised Verification Network through the zkBridge connection.
The required supporting layer will secure and facilitate Merlin Chain ecosystem transfers and interactions. In addition to ensuring the integrity of data transfers, it also allows for simplified interactions across chains. It adds up significantly to the integration because of this. Polyhedra Network believes Merlin Chain and zkBridge’s partnership could boost Bitcoin and blockchain development.
Bitcoin may join other DeFi protocols previously available on smart contract platforms via this connection. Such platforms include decentralised exchanges, lending platforms, and yield farming options. Merlin Chain and Polyhedra Network are making Bitcoin more flexible and linked using these capabilities.
Bitcoin Functionality Upgrade: Developers Target Increased Use Cases
Merlin Chain is able to deliver safe, scalable solutions because it uses ZK-rollup technology and decentralised oracles. Beyond its traditional limits, these ideas potentially expand Bitcoin’s possibilities. According to Polyhedra Network, zkBridge NEP-3 is a step in the right direction for the blockchain industry. Also, it will help make Bitcoin even more practical and useful.
The zkBridge and Merlin Chain integration will completely change how Bitcoin connects to the blockchain ecosystem. The technique developed by Polyhedra Network makes use of zero-knowledge proofs. It guarantees the privacy and security of cross-chain transactions. Simultaneously, it preserves the immutability and transparency of blockchain technology.
Verifying transactions over many networks effectively and securely is a major issue with blockchain interoperability. Polyhedra Network is solving this problem by using this technology. Thanks to this development, the blockchain ecosystem may become more streamlined and interdependent. Therefore, allowing asset and data flow across chains without compromising decentralisation or security.
The NEP-3 proposal by Polyhedra Network is a major step forward in Bitcoin’s development. Polyhedra Network improves Bitcoin’s technical capabilities through zkBridge integration with Merlin Chain. Also, it’s increasing Bitcoin’s possible use cases in the ever-expanding realm of decentralised apps. The timing of this invention couldn’t be more important. At this time, the blockchain industry is currently striving for increased scalability and interoperability.
Charting New Territories: The Future of Bitcoin in Web3
There is now a paradigm shift in Bitcoin’s perception and use in the Web3 age. This shift is symbolised by the integration of Polyhedra Network with Merlin Chain through the NEP-3 proposal. It is more than just a technological achievement. A more integrated and effective digital asset ecosystem is on the horizon. Thanks to this partnership’s plans, there’ll be the elimination of long-standing barriers between blockchain networks.
Polyhedra Network widens the scope of blockchain technology. Hence, more creative solutions that connect various networks and protocols will likely emerge. A new age of blockchain connectivity and usefulness could dawn if this integration proves successful. Other organisations will likely investigate comparable partnerships.
Looking ahead, the blockchain community highly anticipates how this revolutionary combination turns out. Polyhedra Network and Merlin Chain may create a more connected and efficient decentralised future. Their partnership will likely go down in history as a watershed point in the development of blockchain technology. Turkishnyradio continues to provide insights on these developments, helping investors stay informed.
