In recent times, there has been a series of new developments in the Bitcoin ecosystem that have attracted a lot of attention. These developments involve projects such as the BRC-420 protocol, Bitmap Tech, and the upcoming Bitcoin Layer 2 network, Merlin Chain, which herald the future direction and potential of the Bitcoin ecosystem.
The inscription market has also experienced some ups and downs in recent weeks as Bitcoin has fluctuated. Traditional assets such as ORDI and SATS have also seen varying degrees of growth. However, the recent launch of several new protocols on OKX has brought some signs of activity to the market and a glimmer of hope.
What is particularly striking is that on January 24, among the rise and fall of Bitcoin community assets sorted out by the community**, BRC-420 assets bucked the trend**, which caused widespread discussion and attention.
Developed by the Bitmap Tech team (formerly the RCSV team), the BRC-420 protocol is innovative in that it allows multiple inscriptions to be recursively combined to create complex assets such as game items, animations, effects, or game modules. The agreement also combines usufruct and royalties, providing the inscription owner with the ability to assign usufruct rights and set **.
Judging from the market performance, the ** increase in BRC-420 assets is amazing. For example, the Blue Box, the largest asset by market capitalization, has grown from only about $1 at the beginning to nearly $2$50,000, which is an impressive achievement. In contrast, the Bitcoin ecosystem's leading asset, Ordi, has risen much lower, taking nearly 10 months to reach a similar increase.
In addition to the BRC-420 protocol, Bitmap Tech has also released a series of important announcements. On December 26 last year, Recursiverse (the predecessor of Bitmap Tech) announced its upgrade to BitMap Tech and announced its four businesses. One of the most important businesses is the launch of the Bitcoin Layer 2 network, Merlin Chain.
Merlin Chain will be built on the basis of the Bitcoin L1 network and integrates several key modules, focusing on empowering the native assets, protocols and application ecology of Bitcoin L1. This move is considered an important step forward in Bitcoin's layer 2 solution, which will provide users with more choice and a better experience.
In addition to Merlin Chain, Bitmap Tech is working with several key partners. These partners will provide Merlin Chain with account abstraction services, ZKEVM design and build, and efficient decentralized trading and liquidity solutions. The addition of these partners will further facilitate the growth and growth of the Bitcoin ecosystem.
Bitmap Tech and the investors behind it have played a key role in this series of developments. The support and cooperation of investors such as OKX Ventures and ABCDE Labs has provided Bitmap Tech with more opportunities and resources for development, and has also brought new impetus to the development of the entire Bitcoin ecosystem.
To sum up, the Bitcoin ecosystem is in a phase of rapid development and change, and the emergence of projects such as BRC-420, Bitmap Tech, and Merlin Chain has injected new vitality and momentum into this change. As these projects continue to grow and improve, there is reason to believe that the Bitcoin ecosystem will usher in an even more brilliant future.
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