Developing defi rights to Bitcoin instead of using wrapped tokens and avoiding problems of blockchain bridges – this is Mainlayer’s main goal.
Mintlayer, an open-source, layer-2 solution for Bitcoin, has the best of Bitcoin
Ecosystems to make crypto operations efficient and secure. Its protocol allows batch transactions (even between different tokens), has a UTXO-based accounting system, and uses the Ethereum access control list for token security. With full support of the Lightning Network, Mintlayer can scale its network assets limitlessly.
Users can instantly exchange Bitcoin for tokenized assets through atomic swaps and transfer assets in the system with zero gas fees thanks to the dedicated Mintlayer wallet.
Its consensus mechanism, dynamic slot allocation (DSA), is a variation of proof-of-stake but with a twist: users do not need to refer to external sources for time validation, because each block is anchored in a block on Bitcoin; And it has an integral checkpoint system that can be activated by any network participant to prevent 51% attacks.
Mintalier also integrates Wasm, a general purpose virtual machine that can run a wide range of programming languages. It is a register based machine and more flexible than EVM.
Building for people
The Mintlayer protocol offers developers several def use cases, from building DEXs, marketplaces and lending platforms to token generation (utility, governance, security, etc.) and derivative tokenization. For those with no software development experience, Mintlayer offers smart contract integrations into apps with zero coding.
To support new creative minds and projects that would like to contribute to the development of Bitcoin, Mintlayer launched an ecosystem fund with an incubator, accelerator and grant programs.
The Cointelegraph x Mintlayer AMA
The upcoming AMA will delve into the future of DeFi on Bitcoin. The AMA guests leading the discussion are:
Charlie Shrem – Founder of the Bitcoin Foundation, entrepreneur and Bitcoin advocate. Member of the Mintlayer Advisory Board and co-founder of BitInstant.
Enrico Rubboli – Co-founder of Mintlayer with over 15 years of experience in software development.
The live AMA session will take place on March 15, 14:00 UTC on Cointelegraph’s YouTube channel.