Innovation and Development of the Bitcoin Ecosystem: From BRC420 to Merlin Chain

The Birth of Bitmap Tech

After more than a decade of Web2 entrepreneurship, an entrepreneur decided to venture into the Bitcoin ecosystem in mid-2023. Although there were still biases against inscriptions in the market at that time, he was attracted by the Digital Meta Theory (DMT), believing that this concept could achieve permanent storage and immutability of content. This prompted him to start deep development on Bitmap, leading to the birth of Bitmap tech.

Innovation of the BRC420 Protocol

The BRC420 protocol launched by the Bitmap tech team has two core advantages:

1. On-chain storage: Unlike traditional NFTs that rely on centralized cloud services, BRC420 assets are stored directly on the chain, ensuring the immutability and permanent preservation of content.

2. Composability: The characteristics of being open source and permanently existing provide a foundation for innovation. Developers can reference and innovate based on existing content in inscriptions, promoting the inheritance and development of creativity.

The core concept of BRC420 is the modularization of content and the assetization of modules. It allows elements such as gameplay, characters, music, etc., to be recorded in the form of inscriptions, which can be combined into complete content and tokenized. Holders not only become shareholders of the project but also gain access to the content and opportunities to participate in its development.

The Path to Success of the Merlin Chain Community

Merlin Chain, as a Layer 2 solution for Bitcoin, owes its community's success mainly to the following points:

1. Open and transparent: The team expresses their true thoughts in all public occasions, earning the trust of the community.

2. Zero marketing costs: Avoid marketing expenses that affect the fairness of the community, creating an atmosphere of spontaneous promotion.

3. Early builder advantage: Compared to latecomers, the community recognizes teams that started building from the early stages of the ecosystem.

4. Meeting the needs of multiple parties: Attracting Western inscription enthusiasts and Bitcoin holders, satisfying the demand for inscription empowerment and Bitcoin interest.

Future Outlook

The Bitcoin ecosystem is still in its early stages, and developers, investors, and ecosystem participants should focus on laying a solid foundation and avoid the temptation of quick gains. The Merlin team has established three funds to provide liquidity, project investment, and incentives for early developers to promote the healthy development of the ecosystem.

In the future, how to better utilize existing assets and serve users will be the focus of the team's attention. With the addition of more excellent developers, the Bitcoin ecosystem is expected to achieve greater innovation and breakthroughs.