Persistence One, a leading provider of blockchain interoperability solutions, has partnered with Merlin Chain to further enhance Bitcoin’s capacity using state-of-the-art ZK-Rollups. From this deal comes an opportunity to revolutionize the way Bitcoin works by integrating Merlin’s mBTC token into Persistence’s cross-chain solutions in the BTCfi environment for better efficiency, scalability and compatibility.
Persistence One is excited to collaborate with @MerlinLayer2 🤝
Merlin Chain is a leading Bitcoin L2 that improves the scalability and security of the Bitcoin network using ZK-Rollups, On-Chain BTC tamper-resistant modules and decentralized Oracles.
Through this partnership, users can… pic.twitter.com/iUZfVYtC2w
— Persistence One 🟠🔁 (@PersistenceOne) October 28, 2024
Addressing Bitcoin Scalability with ZK Rollups
Mainnet Bitcoin (mBTC) has had throughput and scalability issues, challenges that create barriers to cross-chain transfers, and higher transaction fees. The ZK-Rollup technology, which runs on Ethereum, is another solution that could solve Bitcoin’s scaling problems by combining multiple transactions into one to minimize congestion and fees. By integrating Merlin Chain’s ZK-Rollup functionalities into its system, Persistence hopes to improve cross-chain transactions so that they are seamless and efficient for those who want to use Bitcoin Net.
The role of mBTC in streamlining cross-chain transactions
With this integration, mBTC, Merlin Chain’s Layer 2 Bitcoin representation, will significantly facilitate the exchange of assets across the chain. It also means that the mBTC token can be moved from one chain to another without having to go through standard exchanges, reducing the number of fragmented marketplaces and creating a more unified place for liquidity.
Persistence’s intent-based architecture allows users to exchange tokens with little slippage and hassle-free. Such strategic connection of mBTC to its system will increase liquidity and help users transfer their assets seamlessly and securely to various blockchain ecosystems.
Merlin Chain: An Emerging Force in Bitcoin Layer-2 Solutions
Launched in early 2024, Merlin Chain has quickly attracted many adopters as an efficient Bitcoin Layer-2 solution with zkEVM compatibility. Merlin Chain also features decentralized Oracle services and data availability layers that provide additional features and enable staking, farm, and DeFi solutions for mBTC users.
Merlin Chain has gained credibility through collaboration with major industry players, and the platform’s architecture aligns well with Persistence One’s vision. Persistence’s cross-chain solutions, combined with Merlin’s technology developed specifically for Bitcoin, will provide better prospects for the BTCfi sector by allowing users to easily interact with decentralized financial applications.
Persistence One’s mission for a unified BTCfi landscape
Persistence One is committed to improving the liquidity profile and use of Bitcoin assets in Layer-2 solutions. Their goal is not to have isolated solutions, but to propose a fully interconnected BTCfi ecosystem in which assets such as mBTC can be transferred easily and securely between different participants.
This collaboration is an important step toward advancing Persistence One’s goal of providing Bitcoin with true cross-chain versatility, launching a robust and easily accessible BTCfi ecosystem while integrating various Layer-2 technologies with the security of Bitcoin.
Credit : cryptonews.net
