The Bitcoin data parsing protocol TerpLayer (formerly Merlin Protocol) announced on its official X on Thursday that it is rebranding and partnering with multiple blockchain infrastructures including Chainlink and NFTScan to launch the Terp Indexer Oracle and the decentralized BRC20 asset cross-chain transfer solution Terp BRC20 Adapter.
Addressing the Challenge:
Bitcoin's absence of smart contract support hinders its growth. Developers use off-chain execution with on-chain status recording, but the lack of a standard for on-chain data serialization raises costs and wastes storage.
Bitcoin's Proof of Work (PoW) ensures network security and global consensus without third-parties. However, most Layer 2 and cross-chain solutions still require third-party trust, posing risks and limiting Bitcoin's ecosystem potential.
The TerpLayer Solution
TerpLayer provides decentralized BDIL nodes, anyone can set up nodes to provide service support, ensuring the decentralization of the BDIL nodes, and a higher degree of decentralization equals higher security.
On one hand, TerpLayer provides BTC native data parsing and access services for the Bitcoin L2 layer (BDIL). The L2 layer does not need to run a BTC full node to download and synchronize data. It can directly connect to BDIL to ensure state synchronization, data storage, and publication.
On the other hand, TerpLayer provides infrastructure services such as Bitcoin custody, wallet services, insurance, and payment processing, simplifying the threshold for Bitcoin L2 and BTC developers. They can directly call the modularized services of BDIL nodes without having to re-research BTC.
Moving Forward
In summary, TerpLayer's upgrade marks an improvement in protocol efficiency, functionality, and developer-friendliness. It aims to optimize the data indexing process, attract more developers to join the ecosystem, and enhance the overall capability of the Bitcoin network.
Contact
Stay up-to-date with TerpLayer's latest advancements by following their social media:
Twitter: https://twitter.com/terp_layer
Website: https://terplayer.org/
Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Media Contact
Company Name: Mercury Protocol PTE. LTD.
Contact Person: Hannah Yang
Email: Send Email
Country: Singapore
Website: https://terplayer.org/
