Because the fruits of years of analysis and growth, Mintlayer kicks off to alter the narrative within the section of Bitcoin-based second-layer scaling options. The blockchain is about to make use of an eccentric hybrid consensus to merge the advantages of hottest decentralized networks.
Mintlayer sidechain launches in mainnet: Particulars
In response to an official assertion shared by its group, Mintlayer, a second-layer platform on high of the Bitcoin (BTC) community, goes dwell within the mainnet immediately, Jan. 29, 2024.
🎉Massive 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 various qualities with Bitcoin, together with the UTXO (Unspent Transaction Output) mannequin and a powerful deal with 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 can be out there 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 business veterans, together with the likes of decentralization pioneer Charlie Shrem of the Bitcoin Basis. Shrem helps Mintlayer growth as a technique advisor.
Token staking and DeFi features can be out there to Bitcoiners
Mintlayer is developed utilizing the mainstream programming language Rust, with a consensus that mixes components of proof of stake and proof of labor. The community goals to offer an atmosphere for monetary innovation that inherits Bitcoin’s greatest options.
Block signers should “guess” the subsequent block in a fashion analogous to PoW, however Mintlayer’s consensus imposes a lot decrease computational demand, which 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.
