Merkle Network, a zero-layer interoperability protocol that stands at the core of the cross-chain ecosystem, has announced their collaboration with TrustSwap to aid in the FlashLaunch of their $MERKLE token offering on October 28th, 2021 at 01:00 PM UTC.
Merkle Network is an interoperability protocol that operates across multiple smart chains to facilitate inter-chain communication. Merkle Network’s main functionality is to connect multiple blockchains and bridge the gap between the decentralized ecosystem flourishing in these blockchains including Ethereum, Avalanche, Solana, Binance Smart Chain, Polygon, and Polkadot. Merkle Network is powered by a secure on-chain protocol combined with a decentralized oracle network to enable fast and secure transfer of data and assets.
Merkle Network is designed to be a blockchain-agnostic protocol using a 4-layered architecture. Merkle Network leverages a decentralized oracle network to transfer data between the chains. The protocol uses Merkle smart contracts for on-chain data requests from other blockchains. This makes Merkle Network easy to integrate into decentralized applications unlocking the many interoperability options offered by Merkle Network.
Security is at the core of Merkle Network’s Decentralized Interoperable Oracle Network and the services built on the Merkle Network Protocol layer will be able to choose from a range of consensus mechanisms to fit their use cases and security needs. these include PoS Validation, Custom Validation, and Hybrid Validation.
Merkle Network opens the floodgates for a vast spectrum of innovative applications to be built and enhanced with interoperability solutions. Some of the use cases and applications that Merkle Network will revolutionize include:
- Cross-Chain Decentralized Applications
- Decentralized Token Bridges
- Interoperable DeFi Markets
- Multichain Interoperable Exchanges
- Lending & Borrowing Platforms
- Yield Optimization and Distribution
- Multichain Token Standards
- Solving Fragmentation of Assets Across Chains
- Flexible Smart Contracts
- Computing & Storage Arbitrage
Merkle Network uses the $MERKLE token to fuel the decentralized protocol. $MERKLE is launching as a BEP20 token on the Binance Smart Chain with plans to expand to all major blockchains once the main net is live.
$MERKLE will have multiple utilities and features including:
- Operation within the decentralized Validator Network
- Gas Fees for cross-chain transfers
- Staking to secure the network
- Token Burns from the fees generated
- Adding assets to the interoperable ecosystem
- Platform Governance
For full details on this FlashLaunch, please see the official blog post here.