ABCDE: Why did we lead the investment in Bitmap.tech? 请注意，翻译结果可能因上下文而异。

ABCDE Capital

24-02-04 11:42

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Original Title: "CN ABCDE: Why We Led the Investment in Bitmap.tech"

Original Author: BMAN, Co-founder of ABCDE

Bitmap.tech has established the largest layer of asset community in the Bitcoin ecosystem, with the Blue Box holding the first NFT with a market value of 350 million US dollars, a community of 33,000 Bitmap holders, the BRC420 asset protocol, which is the second largest in the Bitcoin ecosystem, and the Merlin Chain, a Layer2 scaling solution for Bitcoin. It is one of the strongest players in the Bitcoin ecosystem.

Bitmap.tech stands out in Layer2 strategy, unlike other Layer2 solutions that focus on "building Layer2 first and then adding assets". Bitmap focuses on "building assets on Layer1 first and then Layer2", leveraging its leading Layer1 assets and strong user consensus to drive Layer2 adoption.

Bitmap.tech holds a blue box with 200 million US dollars and a community of 33,000 holders of Bitmap3.3. These assets have rich reserves and user base on the first day of launch on Merlin Chain, with advantages that other Bitcoin Layer2 cannot match.

1. First assets, then Layer2

Bitmap.tech is the most influential Bitcoin layer 2 asset community among all Bitcoin layer 2s.

They hold the native Bitcoin BRC420 asset protocol, and the market value of BRC420 assets in the blue box has exceeded $200 million, making it the strongest NFT in the Bitcoin ecosystem. Even among the 10K NFT collections on the entire network, Bitmap.tech's blue box is second only to CryptoPunks and BAYC.

Unlike other protocols such as Ordinals, the BRC420 protocol combines multiple plaintext recursively to form a complex plaintext. Therefore, BRC420 can support a wider range of asset types than BRC20, ranging from a character or pet to an entire game script, virtual machine, or even AI model that can be combined into on-chain assets for developers to purchase or pay royalties.

BRC420 consists of two parts, the Metaverse Standard and the Royalty Standard. The former defines an open format for assets in the metaverse, while the latter establishes on-chain protocols for creator economics.

Currently, assets and games from over 1000 teams have been issued on the BRC420 protocol, including game characters, game DLC, HTML scripts, music, videos, etc., and have received a large amount of on-chain royalties. These 1000 teams have already received over 10 million US dollars in royalties on the BRC-420 protocol.

2. 先有生态后有 Layer2

Translation:

2. First Ecology, Then Layer2

Bitmap.tech has the strongest native ecosystem among all Bitcoin Layer2 solutions.

Bitmap Browser and BRC420 protocol were launched successively. The market value of BRC420 assets exceeded 260 million US dollars, with over 20,000 independent addresses and peak trading volume surpassing all Bitcoin asset protocols. In addition, there are native games such as Bitmap War, recursive application RCSV, and Bitmap Explorer, forming a closed-loop ecosystem from asset protocol to Layer2, Dapp, and community.

Bitmap.tech has captured over 90% of the native asset Bitmap's traffic in the Bitcoin ecosystem, with a market value exceeding $250 million and over 33,500 independent addresses, making it the largest Ordinals asset community. As a 1:1 mapping of the BTC block, Bitmap is completely decentralized and the most Crypto Native+ and halal BTC metaverse. Bitmap.tech has developed an embedded editor, game engine, and game platform for Bitmap, greatly enhancing its activity and transactions. Its activity even surpasses Ethereum's Sandbox and Decentraland, making it the largest metaverse community in the entire crypto industry. Bitmap.tech has the potential to expand Bitmap to the entire crypto ecosystem and has the potential to break through the circle.

3. Pragmatic Layer2 Solution - Merlin Chain

Bitmap.tech team is very familiar with the advantages and disadvantages of various technology stacks of BTC, and adopts a practical technical solution to develop Bitcoin Layer2-Merlin Chain. Founder Jeff, as a serial entrepreneur, has been deeply involved in games, metaverse, and Bitcoin for many years. He believes that the biggest advantage of Bitcoin Layer2 lies in who can have the right to speak on asset protocols on the BTC layer, control high-value assets, and have a large community base. Whoever can do this will be the first to become a winner. Similar to Polygon in the Ethereum ecosystem, as an Ethereum sidechain, it has surpassed various Layer2s and established a huge ecosystem not because Polygon's technology is the most perfect, but because it first obtained consensus and established a huge ecosystem.

Currently, the second layer of Bitcoin is far from perfect. With the current architecture of Bitcoin, it is impossible to have "technologically pure" L2 or Roll-up solutions because the main chain cannot verify transactions on the second layer. Therefore, Bitmap.tech's second layer solution, Merlin Chain, focuses more on practicality while also having long-term plans.

After the mainnet goes live, Merlin Chain will continue to upgrade and soon integrate key modules such as the ZK-Rollup network, decentralized oracle network, and fraud proof on the Bitcoin chain. By using ZK technology to compress data to the maximum before uploading it to the Bitcoin network, the security of the ZK state root and ZK Proof can be verified, while also providing a foundation for the challenge mechanism by staking BTC on the first layer network.

Merlin Chain is not only an EVM compatible chain, but also has an account abstraction structure, allowing users to use both Bitcoin and Ethereum wallets at the same time. Additionally, Merlin will bridge native assets from multiple Bitcoin layers to layer 2, using Cobo's MPC solution to ensure all funds are non-custodial and secure. Merlin's overall solution will be audited by multiple companies and open sourced.

Unlike other Bitcoin layer 2 solutions, Merlin Chain will continue to support Bitcoin's native wallet and address. They adopt Particle Network's account abstraction scheme, allowing users to transfer, authorize, and receive assets on Merlin Chain using Unisats, OKX Wallet, or even email and phone registration.

Merlin Chain will be launched in early February, with 18 Dapp ecosystems already joining, including DEX iZUMi, cross-chain bridge Mesonfi and Polyhedra, Bitcoin native asset applications Bitmap.Game and Bitmap.War, BRC-420 native DeFi application Mineral, and other excellent ecological projects such as Bitcoin native stablecoin BitSmiley.

The battle for Bitcoin Layer2 Summer has begun.

Ordinals/Atomicals/Taproot Assets and other protocols have created a large amount of assets on Bitcoin. After a large amount of assets are created, the next step will be the Defi Summer of Bitcoin, allowing the 900 billion market value of Bitcoin to enter Layer2, and perhaps the TVL will be larger than the entire Ethereum ecosystem. In this super-large ecosystem, Bitcoin Layer2 has at least tens of billions of TVL in second-layer or Defi opportunities.

So, among the many Bitcoin Layer2 solutions, who will be the first to break through?

Bitmap.tech has the first NFT asset blue box in the Bitcoin ecosystem, the second asset protocol BRC420, the first asset community (Bitmap+BRC420), and the strongest native assets and ecosystem. Bitmap.tech is undoubtedly leading among many Bitcoin Layer2 players. Its metaverse standard protocol is expected to expand Bitmap to the entire crypto ecosystem, becoming the largest crypto metaverse. We look forward to Bitmap.tech leading Bitcoin towards a prosperous ecosystem.