Because the end result of years of analysis and growth, Mintlayer kicks off to vary the narrative within the phase of Bitcoin-based second-layer scaling options. The blockchain is ready to make use of an eccentric hybrid consensus to merge the advantages of hottest decentralized networks.
Mintlayer sidechain launches in mainnet: Particulars
In line with an official assertion shared by its crew, Mintlayer, a second-layer platform on prime of the Bitcoin (BTC) community, goes dwell within the mainnet in the present day, Jan. 29, 2024.
Huge Information! Mintlayer’s #Mainnet is launching on Jan 29!
This marks a significant milestone, transitioning from a testnet to a completely operational blockchain community!
Prepared for a gateway to numerous Tokenization requirements with MLS-01 and MLS-03.
https://t.co/bJtJeK1lHS
— Mintlayer (@mintlayer) January 10, 2024
Like Bitcoin, Mintlayer will launch with the creation of a Genesis block. The Mintlayer blockchain shares a variety of qualities with Bitcoin, together with the UTXO (Unspent Transaction Output) mannequin and a powerful concentrate on safety.
From the onset of its mainnet operations, Mintlayer helps non-Turing-complete sensible contacts, lowering assault vectors and simplifying the auditing course of.
Within the subsequent releases, as soon as Atomic Swaps are carried out, tokens issued on Mintlayer will likely be obtainable for non-custodial conversion with Bitcoin (BTC), paving the trail for unprecedented safety and eradicating the necessity for intermediaries.
The Mintlayer sidechain was created in collaboration with trade veterans, together with the likes of decentralization pioneer Charlie Shrem of the Bitcoin Basis. Shrem helps Mintlayer growth as a method advisor.
Token staking and DeFi features will likely be obtainable to Bitcoiners
Mintlayer is developed utilizing the mainstream programming language Rust, with a consensus that mixes parts of proof of stake and proof of labor. The community goals to offer an surroundings for monetary innovation that inherits Bitcoin’s greatest options.
Block signers should “guess” the following block in a way analogous to PoW, however Mintlayer’s consensus imposes a lot decrease computational demand, that means even low-powered units can run a node, enabling broader participation.
The ML token helps community staking and fuels financial operations on the Bitcoin sidechain. Mintlayer will launch with a premined provide of 400 million ML.